MBA Study Material | Business Environment
Definition of Business
Business means all economic activities which is done for the motive of earning. In these activities, we can include production, manufacturing, purchasing and selling and other market promotion activities. Commerce, trade and aids to trades and enterprise are also included in business.
Truthful facts about business:-
- 1. Richest person of the world = Bill Gates
Net worth in USD = $ 40.0 billion
Business = Microsoft
- 2. Oldest company is Kongo Gumi of Japan in the world and its business is construction . This company started his business in 578 in company form.
Concepts of Business Environment
There two concept of business:-
1st Economic concept of business
This is oldest concept of business and according to this concept; main aim of business is to earn profit and never to do any other work. Under this concept, every legal and illegal and scams and fraud are the necessary for doing highest profit from business. Because in old time, there is no competition and trend to earn money is by any way. But now this concept is totally failed and bear a new concept which is successful in world business market.
2nd Social concept of business:-
According to this concept, business’s all activities are done for making stable customers and make them satisfied. Now, all business organization is understood this point and making social networking for promoting business. Even all big business organization is communicating with general public by the way of twitter and face book and linkedin (35 million registered business profiles).