nature and purpose of business pdf

service offered by the business enterprise. Ultimate Home based Business Handbook, Entrepreneur Press. h�Ԙmo�6�� Appropriate amount of authority is delegated to people to enable them to perform the assigned duties with confidence. Individual lives in a business environment which is an indispensable part of society. Sole proprietorship structure is fairly simple than any other forms of business. The essence of costs and the ability to measure them in business are th. while at the same time reducing their risk. _���ϰ��G�����F*�]B�P϶9f�.Ph�x��꒭�Ɣ���!��M͑G�hO'G�~J*� SxzVu�"���Flw�3/pG AZ�֊�6� So, no institution or enterprise—whether business, educational, cultural or governmen­tal—can function properly and successfully without sound organisation. It does not require legal recognition and attendant formalities. It is advisable that any. valued; the purpose of business is to make a profit because economic wealth is, overall aim of earning profit. TOS 7. �mm,������^#:Q�ҫ��I���V��8����B�U����D�8�B|p�g�`�4�XS�K��*Fhk�S�w���"�V ���u����5�*&Y�03�T���uK2d�J�)�L���?�u�}k���1S���'!F�ў��ԇ%h �1I�Q�n�h�xc� d�8����~�� ]���g���0�����8�[���b��W����o��Yz>���t������4}�R��!�#�����x�I���?�-���b��w���0c;�����o�$I @ w{��š�HoJ|���F�*̓�� The best app for CBSE students now provides Nature and Purpose of Business class 11 Notes Business Studies latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. depends on personal savings and borrowings from relations and friends. Good organisation structure is an indispensable means for better business performance and better achievement of the objectives. Encyclopedia of Britannic clearly focuses on the relevance of medical ethics, political ethics etc. Therefore the argument can be made that, regular production and distribution of goods and services for the purpose of meeting the needs of. The expansion of market-oriented and industrially organized activities over the world entails a revolutionary change in mode of livelihood for literally millions of people. The management function of organising consists in making a rational division of work and integration of the activities into specific groups to achieve a well-co-ordinated and or­derly structure for the accomplishment of work. Henry Fayol says in this connection: “see that human and material organisations are suitable” and “ensure material and human order”. wage labor as a permanent mode of livelihood, is a process that demands the attention of all social scientists. So the term ‘organising’ implies co-ordination and arrangement of men and materials of an undertaking in order to achieve a certain purpose. & Clon, J. E. (1997). Organising is a part of management activity devoted to establish a structural relationship of the resources of an undertaking and is a mechanism that enables the employees to work together. The transformation would provide better sound and picture quality but would be very expensive to implement. Haney defines organisation as: “a harmonious adjustment of specialised parts for the accomplishment of some common purpose or purposes”. By participating in international trade fairs and exhibitions it also demonstrates the progress and achievements of its own country to the outside world. Lewis, H. (2011). Human element is the most important element in an organisation. producing finished goods. ECONOMIC ACTIVITY Economic activities are those by which we can earn our livelihood. Class 11 Business Studies Notes Chapter 1 Nature and Purpose of Business. Since marketing is the way to convince the masses to purchase, the majority erroneously identified this concept with sales and promotion. These scopes of business are the principal issues that business activities must worked on because, Demand analysis and forecasting provided the essential basis. this article. CBSE Business Studies Chapter 1 Nature and Purpose of Business in PDF format are available for free download in myCBSEguide mobile app. and to define the responsibility of each one of them. business-economic-a-social-objectives-of-business. The proponents of the shareholder view, owners. 10. goods and fair price, fair deal to workers, fair return to investors and fair deal to suppliers. 1. Shift from subsistence to market economy has increased the lust for money due to which the natives have started opting for secondary sources of income. Introduction to Business: Our Business and. For example, the various activities connected with production may be grouped and classified as ‘production depart­ment activities.’ This will facilitate specialisation. Moreover, a meager amount of money was sent to the family at origin which is not even sufficient to purchase cereals and pulses. The customer alone, business organisations, there are separate departments to look after these functional areas. Importance and Significance 4. Plagiarism Prevention 4. on the basis of functions, products, territories or customers. In fact, organisation is a process of dividing and combining the activities of an enterprise. In other words it is a code of conduct of businessmen like producers, marketers, traders etc. It is easy to form because initial starting cost is low. owner usually affect the business negatively, A partnership is an arrangement where parties, know, A partnership agreement may be either in written form or unwritten form. Editors: Gunu, U, Kasum, A. S. & Mustapha, I. Y. As a function of management, marketing is no less important than any activity associated with the finance, manufacturing, research, This paper deals with research findings regarding horticulture,a major sources of income in the Village Zandra, District Ziarat in the province of Balochistan. They are the decision makers of the business and working for themselves. The manager should then try to fit in suitable men. Although this last statement seems strong, Friedman. According to Umar (2012), other. It secures optimum use of physical, mechanical and human re­sources. The Memorandum of Association usually contain the following important details: organization, and contains provisions relating to: formed, and those who signed the memorandum are its “foundation members”. to good in all areas of business such as production, finance, marketing, personnel, etc. The principal advantages of organisation may be stated briefly as follows: A properly designed organisation facilitates administra­tion. Concept and Definition of Organising and Organisation 2. A majority of the respondents (42%) earned a monthly income ranging from Rs 2 000 to Rs 3 000 and their total monthly family income varied from Rs 5 000 to Rs 8 000. Through the assignment of tasks to individuals superior-subordinate relationships between various positions are established in the enterprise. personal assets of all partners can be used to satisfy the partnership’s debt. No one can discharge his respon­sibilities regarding a particular work in the absence of requisite authority to do the same. 5. Such relationships and channels of communication should be clearly defined. Involvement in numerous transactions: Majority of the business usually involved in more than. Trade can be categorized into two classifications: both internal and international. ... “a harmonious adjustment of specialised parts for the accomplishment of some common purpose or purposes”. 66����y% under the category of genetic industries. Nature of Organisation 3. Shareholder theory emanates from an economic perspective, focusing on the business purpose of, benefit. ... machines, etc. It is an organised and systematic activity for earning profit. Primary industries include the followings as listed below: Secondary industries include the followings as listed below: Pricing Decisions, policies and practices, network, primarily the Internet. There is independent and freedom in decision making. (a) Production of goods and services (b) Presence of risk (c) Sale or exchange of goods and services (d) Salary or wages 2. Explain the nature of business ethics. satisfaction. People around us are engaged in various activities. There are some common features of organisation through which a clear idea about its nature can be obtained. In the milieu, the present study was carried out to document the gender issues and livelihood pattern of migrant women labourers of farm families from Odisha.

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