Short Essay On Business

In this essay we are going to talk about the Business. In our society business plays a major role. Business is an act of making a living by earning money through the process of selling and buying varieties of products. Business is a competitive and creative activity which contributes to shaping out society continuously. It is based on the footing of profit and loss; hence, the failure or success of a business has a broad array of variation.

Short Essay On Business

Business is an organised effort by a group of individuals or an individual who are engaged in making a living.

Business constitute an organised effort by an individual or group of individuals who are committed in making a living. It, therefore, includes all those activities which entail production or purchase of goods or supply of certain services with the object of selling them at a profit.

A business is expected to provide services and goods in an effective manner to the society. It means, along with aiming at earning profit it should also take care of the interests of their customers and should make them feel satisfied after they have purchased any product or goods from them. After that only, a business can flourish and survive.

Essay On Business

The term business can also be connoted as a ‘company.’ But as a generalized term business can be referred to a multinational company as well as to a street peddler’s work. Even a small inspiration or idea when it is slowly fostered carefully and strategically planned and set up over years, then only it turns out to be a successful business. To make a proper lifestyle millions of small and large scale businesses run all over the world.  

A very demanding career or profession which has broadened and popularized over the years is business. Business is not a easy career, it needs teamwork, very high skills of management, effectiveness of work, mental health and patience. Business is not always secure and for that reason a person should be mentally strong and be prepared to accept the fall of their business at any point of time in their life. But, a business can have a high rate success of it is planned properly from beforehand along with the help of the expertise and patiently blossomed over the years.

Generally, a business is done along with the coordination of several other activities like financial management, safety, manufacturing, sales management, research, marketing and development. These are the various departments which are needed to be tended to for running a good business and have the aim of success. For the profit of a business, there are certain people who plays a pivotal role which are creditors, regulators and investors. There are basically four main types of businesses which are limited liability companies (LLC), sole proprietorship and corporations. The entrepreneurs should carefully look which structure will suit best for their enterprise before initiating or starting a business.  

There are certain factors which affects the state of any business and they are the sector and the country, size and scope of a business firm, control, coordination requirements, disclosure and compliance requirements and tax advantages. Businesses usually cover a very wide field of jobs which are financial services, industrial manufactures, sports, agriculture, wholesalers, entertainment companies, real estate, distributors, retailers, transportation and utilities.

The employment generation gets benefited by business. Business is very important as it generates employment, provides jobs to several people like several clerks, managers, salesman, etc. Businesses are known to use the scarce resources which are available and then convert them into a valuable product which fulfil a utility and then sell them to the public. Hence, a business is very helpful for optimum utilisation of resources. It also helps in improving the communication between nations via foreign trade and it results in improving the relations between nations.

A person can have a certain lifestyle and can be independent by setting up a business. A successful business helps to provides creative freedom, personal satisfaction and financial rewards. A person gets self-confidence and motivation through the success of a business. In today’s world and time, E-business has become very common and has popularized greatly with a high rate of success. As the government try to promote digitalization so they give many benefits to online business. E-business has many advantages as it becomes very easy to reach large number of audience and can also be conducted at any point of time.  People who does start-up or sets up small start-up businesses they initiate their businesses online and once they get a minimum customer popularity they get established online.

Business plans also have a big disadvantage which are involvement of time and regions. A business can suffer more than they gain success if the business set up does not have enough money or they fail to expertise to make a proper business plan. There are certain businesses which are bound to climate and region and hence, they have to concentrate more on their sales which are at a particular time and place and are incapable of expanding. These businesses are harder to handle and very carefully and tactfully and skilfully they need to be planned. Before putting a creativity into a certain action it is very important to cultivate that creativity in a person and be well informed about that.

There are many benefits of a business which are communication between nations, building self-confidence, optimum utilisation of resources, financial gain and securing the future.

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Often, a generation after generation of a family takes over a business and becomes family business and becomes integrated into their identities. It is very important to be well informed about the factors which affects a business and get advise and suggestions from expert to protect a business from huge loss which will result in mental breakdown.

The economic pulse of a nation is the business which strives to improve the standard of living of the society. Hence, business can also be referred to the total enterprise of any country’s industry, commerce, manufacturing and finance. A business can be a private enterprise or even a public enterprise.

A business environment can create problems for prospering businesses or can even create many opportunities. What a business can do by channelling and shaping it’s development is determined by the environment.

Within an environment a business functions which allows any entrepreneurs to create profits and raise capital freely. There are certain things which can have a strong effect on any business which are the economic stability and the supply of money which is available within a business through the times is recession and growth.

Essay On Business In English

When a nation imports more than it exports then a shortage of international trade occur. Within our society, a general economic growth or stagnation can also have an influence on business which is very important. There are many factors which can have an affect on the condition of business which are technology, war, political assassinations, new inventions, labour negotiations, the discovery of natural and physical resources, government actions and many other things. A business can prosper when the demand is high and the economy is strong. A business have to compete with their enemies and other firms for labour and scarce raw materials no matter how great the economy is.

Any activity must have certain features to be called as a business. The features are listed below:

Economic Activity

As a business involving services for any product and the purpose of profit making, buying and selling of goods and creating wealth is solely an economic activity. Other activities such as cooking for family, serving the poor, etc. are non-economic activity as they are not done with the objective to earn wealth and are not called as business.

Production in Services and Goods:

There is a crucial aspect of business which is the purchase or production of good and services and selling them to people to earn money by satisfying what the people wants. The services and goods are of two types and they are producer goods which are used in the production of capital goods like raw materials, manufacturing and industrial chemicals or the production of consumers. And consumer goods which are for direct consumption by the final consumer like shampoo, coffee, etc. Services can be said as intangible goods like banking, communication, transportation, insurance, warehouse, etc. Services removes the varieties of hurdles in business by clearing the way for selling and buying of goods. 

  • Continuity in Dealings
  • Profit Motive
  • Transfer, sale or exchange
  • Creation of Utilities
  • Element of Risk
  • Art As Well As Science.

Business is a way for any individual to provide their services and goods to the customers and consumers. And while providing goods and services it also produces a profit for themselves. Businesses are not just important as they provide services and goods to customers but it also helps in improving the economy and jobs for all the people within the society which acts as an addition to producing a high standard of living for all the individuals and the society.

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