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    Chapter 1

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    ashvidheer
    Business involves the purchase and sale of goods and services with the aim of earning a profit. It provides characteristics like the regular exchange of goods and services that require investment and involve risks. Business is important as it improves living standards by providing goods and services, generating employment, and reducing poverty. The objectives of business include economic goals like profit earning, social goals like quality production and fair trade practices, human goals like employee well-being, national goals like creating jobs and revenue, and global goals like raising standards of living worldwide.

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    Chapter 1

    Uploaded by

    ashvidheer
    17 views14 pages
    Business involves the purchase and sale of goods and services with the aim of earning a profit. It provides characteristics like the regular exchange of goods and services that require investment and involve risks. Business is important as it improves living standards by providing goods and services, generating employment, and reducing poverty. The objectives of business include economic goals like profit earning, social goals like quality production and fair trade practices, human goals like employee well-being, national goals like creating jobs and revenue, and global goals like raising standards of living worldwide.

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    Business Environment

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    Business involves the purchase and sale of goods and services with the aim of earning a profit. It provides characteristics like the regular exchange of goods and services that require investment and involve risks. Business is important as it improves living standards by providing goods and services, generating employment, and reducing poverty. The objectives of business include economic goals like profit earning, social goals like quality production and fair trade practices, human goals like employee well-being, national goals like creating jobs and revenue, and global goals like raising standards of living worldwide.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    17 views14 pages

    Chapter 1

    Uploaded by

    ashvidheer
    Business involves the purchase and sale of goods and services with the aim of earning a profit. It provides characteristics like the regular exchange of goods and services that require investment and involve risks. Business is important as it improves living standards by providing goods and services, generating employment, and reducing poverty. The objectives of business include economic goals like profit earning, social goals like quality production and fair trade practices, human goals like employee well-being, national goals like creating jobs and revenue, and global goals like raising standards of living worldwide.

    Copyright:

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    of 14

    Business Environment

    V. NEELAMEGAM M.A., M.Phil., M.B.A., A.M.T., MIMA. Senior Lecturer School of Commerce and Business Administration Faculty of Science and Humanities SRM University Tamil Nadu VRINDA PUBLICATIONS (P) LTD. DELHI - 110 091. www.vrindaindia.com
    2

    CHAPTER 1
    Introduction to Business

    Introduction
    The Term Business means all those human activities which are performed for making profits. Business includes purchase of goods with the object of selling them at profit.

    Characteristics of Business

    Deals in goods and services; Sale of exchange of goods and services; Regular exchange of goods and services; Requires investment;

    Aims at earning profit; and


    Involves risk and uncertainty of income.
    5

    Importance of Business
    1.

    2.

    Business includes the standard of living of the people by providing better quality and large variety of goods and services and the right time and at the right place. It provides opportunities to work and earn livelihood. Thus, it generates employment in the Country, which in turn reduces poverty.

    Types of Business Activities

    Objective of Business
    Economic Objectives Social Objectives

    Human Objectives
    National Objectives

    Global Objectives
    8

    A. Economic Objectives
    Profit Earning Creation of customers

    Regular innovations
    Best possible use of resources

    B. Social Objectives
    Production and Supply of Quality Goods
    and Services
    Adoption of Fair Trade Practices Contribution to the General Welfare of the Society

    10

    C. Human Objectives
    Economic Well-being of the Employees Social and Psychological Satisfaction of Employees Development of Human Resources

    Well-being of Socially and Economically Backward People


    11

    D. National Objectives
    Creation of Employment Promotion of Social Justice

    Production According to National Priority


    Contribute to the Revenue of the Country Self-sufficiency and Export Promotion
    12

    E. Global Objectives
    Raise General Standard of Living Reduce Disparities Among Nations Make Available Globally Competitive Goods and Services

    13

    THE END

    14

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