Definition About Business
What is Business?
Business is an organization that produces and sells products or services that consumers need for a certain level of profit.
In capitalist economies, where most businesses are owned by private parties, businesses are formed to make a profit and increase the prosperity of their owners. The owners and operators of a business get rewarded according to the time, effort, or capital they provide.
But not all businesses pursue this advantage, such as a business co-operative that aims to improve the welfare of all its members or institutions that aim at improving the welfare of the people. This business model contrasts with the socialist system, where big businesses are mostly owned by the government, the public, or the union.
Business understanding of the many causes arises from an understanding of a wide range of definitions of the business itself
Here’s Some Business Definition According to the experts :
1 . Huat, Chwee T (1990 )
"Business in the broadest sense is a general term that describes all the activities and institutions that produce goods and services in everyday life. Business is a system that produces goods and services to satisfy the needs of the community ( business is then simply a system that produces goods and services to satisfy the needs of our society".
2 . Steinford (1979 )
"A business is an institution that produces goods and services DEMANDED by the people. That business is an organization that produces goods and services needed by the community".
If the community needs to increase, the institute will also increase business development to meet those needs, while gaining profits.
3 . Griffin and Ebert (1996 )
” Business is all those activities INVOLVED in providing the goods and services needed or Desired by people”.
In this sense as a business activity that provides goods or services that are required or desired by the consumer. Can be done by corporate organizations that have a legal entity, a company that has business entities, and individuals who do not have a legal entity or business entity.
4 . Hughes and Kapoor
” Business is an organization that provides goods or services to earn a profit ”.
In line with these definitions, business activities through the provision of goods and services are intended to generate profit ( profit ). A company is said to produce a profit if the total revenue in a period ( Total Revenues ) is greater than the total cost ( Total Costs ) in the same period. Profit is the main attraction for the conduct of business activities, so businesses can profit through the scale of their efforts to develop a greater increase in profits.
3 things are important in business :
1 . All businesses produce goods and services
2 . All businesses seek to profit
3 . All businesses strive to continue Consumers' desire
Why do we have to learn about the business, is because due to the following :
1 . The Impact of Business ( business strong influence in everyday life )
2 . Career choice ( choice of career or profession )
3 . Business Ownership ( desire to have and to explain to consumers about the products )
Purpose of Business :
1 . Profit
2 . Growth
3 . Continuity
4 . Stability
5 . Public Service
6 . Will fare / Financial Freedom
Orientation while the business is divided into two :
1 . Profit
2 . Non-profit
The role of humans in the business :
The human element is the core of the Business, as the businessman needs to be placed as owner, workers, and consumer Identify business opportunities In identifying business opportunities, there are two phases to be followed :
1 . The first phase is to find an idea or ideas.
In this phase, there are 4 places to get ideas, namely :
• Yourself
• Customers
• Markets
• Products that fail
2 . Second phase is to identify business opportunities for the earlier idea.
In this phase, four steps must be taken in sequence :
• Analysis of issues
• Analysis of the situation
• Formulate an unknown territory
• survey the targeted customers
Types of business types :
1 . Business home
2 . Business Online
3 . Businesses and other
That is a definition about business. Hopefully, it will useful to you.
Post a Comment for " Definition About Business "