The Nature of a

Business
Do you think that the situation of
being busy is common among
adolescent students today? Explain
your answer
What is Business
Business

 We are surrounded by various

artifacts of an activity that we call
business
 Business is a maze that is
inescapable because it has become a
necessary facet of modern living and
of the contemporary society
Etymology of Business

Bisignes (Old English Word) –

care, anxiety, occupation
Bisig (adjective) – careful,
anxious, occupied, diligent
Business is one’s occupation,
engagement or work
Duska and Ragatz – Business is
to engage in purposeful activity
“What is your business?”
What does it mean to be “busy”?
Being Busy

To be busy is to be preoccupied

not only with the task itself but
also with how well the task is
performed
One cannot be truly busy and
accomplish nothing at all
Business

 An organization or economic system

where goods and services are
exchanged for one another or for
money – profit
 The activity of making, buying, or
selling goods or providing services in
exchange for money
Business
 Itcovers the manufacturing, finance,
trade, service, and other economic
activities. The fundamental purpose of
business activity is to satisfy human
needs by creating products and services.
 Business is often defined as economic
activity engaged in for the sake of
profit.
“Busy-ness” is not anymore the main
criterion for an activity to be called
business.”
Businessperson vs Entrepreneur
Entrepreneur

 somebody who shifts economic

resources out of an area of lower
and into an area of higher
productivity and greater yield.
(Jean-Baptiste Say)
Entrepreneur (Russell Sobel)
 Entrepretndre – to do something or
to undertake
 Antha Prerna – self-motivated
 Entreprenuer is a self-motivated
person who is not afraid to
undertake new ways of
accomplishing something.
Entrepreneur vs Businessperson
Entrepreneur Businessperson
o Concerned with the “insight aspect” o Concerned with the “business
of an enterprise aspect” of the enterprise
o An innovator o An imitator
o Very observant o Waits for the innovations
o Risk-taker (thinks without the box) o Play-safe
o Goes beyond the profit motive o Motivated by the financial reward
o Founders o Business professionals
The challenge that business people
face is to never let go of the
entrepreneurial mind
Capitalist vs Entrepreneur
Capitalist (David Schweickart)

 Someone who owns enough

productive assets that he can, if he
chooses, live comfortably on the
income generated by the assets
 Comprises a tiny minority of the
society
The entrepreneur is more productive
and more valuable to the society
than the plain and pure capitalist
Activity : Business Person vs
Entreprenuer
4groups
Examples of Entrepreneur or
Businesspeople
Why do you say so?
THE PURPOSE OF BUSINESS
POSTER SLOGAN MAKING
 Business person VS Entrepreneur
(10-15 words)
 Criteria:
Creativity - 15
Meaning - 15
Explanation - 15
TOTAL - 45 points
Subjective Reason for Putting
Up a Business
 Desire to make more income for oneself and
his or her family.
 For independence.
 Continuing the legacy of the family.
 Try a unique and novel idea.
 Desire for competition.
 Genuine desire to help people in your small
community and country in general.
The Objective Purpose of
Business
 Milton Friedman: Profit as the
Primary Responsibility of business.
 Paul F. Camenisch: The Primacy of
Business’ Social Function
 Ronald F. Duska: The Motive is not
the Purpose