This document provides an introduction to key concepts in business including definitions, objectives, and elements. It defines business as an economic activity directed towards producing or acquiring wealth through buying and selling goods. The objectives of business are discussed from different points of view including profit, social, and human objectives. Finally, it outlines some of the main elements of business like industry, commerce, trade, and factors of production.

1. INTRODUCTION
TO
BUSINESS

2. BUSINESS
Humanactivity directed towards producing or acquiring
wealth through buying and selling of goods.”
- According to Henry
Business is an economic activity of two or more persons for earning profit.
It is also a human activity directed towards producing or acquiring wealth
through buying or selling of goods.
MD. REFAT HOSSAIN

3. OBJECTIVES OF BUSINESS

4. Pre Consideration Of Objective
S SPECIFIC M MEASURABLE
A ATTAINABLE
T TIME SPECIFIC
PRE CONSIDERATION OF OBJECTIVE
R REALISTIC
MD. REFAT HOSSAI

5. OBJECTIVES FROM DIFFERENT POINT OF VIEW
PROFIT OBJECTIVE
SOCIAL OBJECTIVE
HUMAN OBJECTIVE
MD. REFAT HOSSAI

6. PROFIT OBJECTIVES
GROWTH
EXPANSION OF BUSINESS
SERVIVAL
MEASURE OF SUCCESS
MD. REFAT HOSSAI

7. SOCIAL OBJECTIVES
SUPPLING BETTER QUALITY GOODS & SERVICES
CREATING EMPLOYMENT OPPOTUNITIES
ADEQUATE & FAIR WAGES
UTILIZING RESOURCES JUDICIOUSLY & ECONOMICALY
INVESTING SOCIAL CAPITA
PAYING REASONABLE PRICE TO SUPPIERS
MD. REFAT HOSSAI

8. HUMAN OBJECTIVES
JOB SATISFACTION
FAIR & ADEQUATE WAGES
MOTIVATING THE WORKERS
DEVELOPING THE HUMAN RELATIONS
CONGENIAL WORKING CONDITIONS
MD. REFAT HOSSAI

9. GOODS & SERVICES
Goodsare tangible
Example: Food, Clothing, Toys, Furniture, And Toothpaste
Servicesare intangible
Example: Haircuts, Medical Check-ups, Mail Delivery, and Car Repair
Businessmeans creation utility for the satisfaction of human wants
through goods and services
MD. REFAT HOSSAI

10. FEATURES OF BUSINESS
Exchange Of Goods & Services
Profit Motive
Deals In Numerous Exchange
Risk & Uncertainty
Buyer & Seller
Connected With Production
Making And Distribution Of Goods
To Satisfy Human Wants
Social Obligations
Legal Consideration
Continuous Process
Fixed Capital
Economic Activity

11. WHY PROFIT IS THE MAIN GOAL OF BUSINESS
MOTIVATING THE OWNER
REMUNERATION OF THE
BUSINESSMAN
LIVELIHOOD OF THE BUISINESSMAN
ENCOURAGEMENT INNOVATION GOODWILL OF THE BUSINESS
EXPANSION & DEVELOPMENT
SOURCE OF FINANCE
MEASURING ROD OF PERFOMANCE
MD. REFAT HOSSAI

12. ELEMENTS OF BUSINESS
INDUSTRY COMMERCE
TRADE
MD. REFAT HOSSAI

13. TYPES OF INDUSTRY
EXTRACTIVE
Ex: Mining
SECONDARY
GENETIC
Ex: Fish Culture
PRIMARY
MENUFACTURING
Ex: Weaving Mill
CONSTRUCTION
Ex: Real State Companies
** ANOTHER TYPE OF INDUSTRY IS SERVICE ENTERPRISE
MD. REFAT HOSSA

14. CLASSIFICATION OF MANUFACTURING INDUSTRY
CONTINUOS INDUSTRY
EX: YARN SPINNING
ASSEMBLY INDUSTRY
EX: AUTOMOBILE
ANALYTICAL INDUSTRY
EX: OIL INDUSTRY
SYNTHETIC INDUSTRY
EX: PAPER INDUSTRY
ASSEMBLY INDUSTRY WITH
SIMILAR COMPONENTS
EX: CLOTHING INDUSTRY
ASSEMBLY INDUSTRY WITH
DISSIMILAR COMPONENTS
EX: AUTOMOBILE INDUSTRY
MD. REFAT HOSSAIN

15. FACTORS OF PRODUCTION
LAND LABOR
CAPITAL ENTREPRENEURSHIP
MD. REFAT HOSSAI

16. COMMERCE
The process of buying & selling and all those activities which facilitate
trade, such as storing, grading, packaging, financing, insuring, transporting
are called COMMERCE.
COMMERCE is Concerned with the distributions’ exchange of commodities.
- J.A. Hanson
MD. REFAT HOSSAI

17. HINDRANCES REMOVED BY COMMERCE
1. HINDRANCES
OF
PERSONS
3. HINDRANCES
OF
PLACE
2. HINDRANCES
OF
EXCHANGE
4. HINDRANCES
OF
TIME
5. HINDRANCES
OF
INFORMATION MD. REFAT HOSSAI

18. TRADE
Tradeis the final state of business activity and involves
sale and purchase of products. It is to facilitate the transfer
of goods from the seller to the buyer.
Trade means business of buying & selling.
- P. H. Collin
MD. REFAT HOSSAI

19. TYPES OF TRADE
TRADE
WHOLE SALE
TRADE
INTERNATIONAL TRADE
RETAIL
TRADE
INTERNAL TADE
EXPORT
TRADE
IMPORT
TRADE
** ANOTHER TYPE OF INDUSTRY IS SERVICE ENTERPRISE MD. REFAT HOSSAI

20. THANK YOU