The term "Business" is derived from English word "Busy", which means to remain active or to be active continuously. Business is carried out with the motive of getting profit and wealth. The concept of business is related with profit motive. Some times loss is incurred in business even though it is an economic activity.
Business is a very demanding profession that has broadened and popularized over the years. A business requires high skills of management, teamwork, patience, mental strength, and effectiveness of work. A person should be mentally prepared to accept the fall of a business at any point of time in their life since it is not always secure. But, if planned properly, with help from the expertise and patiently blossomed over the years, then a business has a greater rate of success.
The primary business objective of all organizations is to earn profit. In general terms, profit is considered as an amount of money that is left over from sales revenue after deducting all expenses. However, some organizations indulge in malpractices, such as hoarding and black-marketing, to maximize their profit. Such unethical practices can bring high profits for an organization in the short run, but may adversely affect the organization’s reputation in the long term.
The involvement of time and regions makes it the biggest disadvantage of a business plan. When a business set up does not have enough money or expertise to make a proper business plan, the business ends up suffering more than gaining. Certain businesses are region and climate bound and thus have to concentrate their sales at a particular place or time and are incapable of expanding. A business often starts with a small idea or inspiration. It is important to cultivate the creativity in a person and be well informed before putting the creativity into action.
The term
"
Business
"
is derived
from English word
"
Busy
"
, which means to remain active or to be active
continuously
.
Business
is carried
out with the motive of getting
profit
and wealth. The concept of
business
is related
with
profit
motive.
Some
times
loss
is incurred
in
business
even though
it is an economic activity.
Business is a
very
demanding profession that has broadened and popularized over the years. A
business
requires high
skills
of management, teamwork, patience, mental strength, and effectiveness of work. A person should be mentally prepared to accept the fall of a
business
at any point of
time
in their life since it is not always secure.
But
, if planned
properly
, with
help
from the expertise and
patiently
blossomed over the years, then a
business
has a greater rate of success.
The primary
business
objective of all
organizations
is to earn
profit
.
In general
terms,
profit
is considered
as an amount of money
that is
left
over from sales revenue after deducting all expenses.
However
,
some
organizations
indulge in malpractices, such as hoarding and black-marketing, to maximize their
profit
. Such unethical practices can bring high
profits
for an
organization
in the short run,
but
may
adversely
affect the
organization’s
reputation in the long term.
The involvement of
time
and regions
makes
it the biggest disadvantage of a
business
plan. When a
business
set up does not have
enough
money or expertise to
make
a proper
business
plan, the
business
ends up suffering more than gaining. Certain
businesses
are region and climate bound and
thus
have to
concentrate their sales at a particular place or
time
and are incapable of expanding. A
business
often
starts
with a
small
idea
or inspiration. It is
important
to cultivate the creativity in a person and be
well informed
before
putting the creativity into action.