Importance of Study Business in Education
A lot of books have been written on this single word business. And every one expressed it in his single word ‘Business’. There are lots. of advantages of study business. 1st we study about business that what is a business.
Explanation of Business:
A business (also called a firm or enterprise) is a legally recognized organization designed to provide goods and services to consumers. If we talk about this word technically then the etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. In economic sense, business includes all those legal activities, which are under taken for the purpose of earning profit. In other words, business is an activity in which various persons regularly produce or exchange goods and for mutual gain or profit. All illegal activities, (smuggling, gambling, betting, and robbery) social activities, self-consumption and gifts etc, are excluded from the definition of business. Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit that will increase the wealth of its owners and grow the business itself.
Thus Business includes besides buying and selling of goods , manufacturing, mining, forestry, agriculture, fishing, trade, banking, insurance, transport, financing as well as the services of all professional men who directly and indirectly help the production and distribution of goods. An organization formed for the purpose of business activities is called business enterprise or business organization. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial returns in exchange for work and acceptance of risk. The persons who are engaged in business are call businessmen or entrepreneurs.
Notable exceptions include cooperative enterprises and state-owned enterprises. Socialist...