Unit 1 Business Organization | BBA First Year 2023

Business Organization | BBA First Year 2023

Unit-1

Business

• An organization where goods and services are exchanged for one another or for money.

Business concept

• It is a statement which describe the reach and reason of existence of a given business idea.

Nature of Business

• Deals in goods and services
• Sale or exchange of goods and services
• Require investment
• Aims at earning profit
• Involve risk and uncertainty of income

Scope of Business

• Industry
• Commerce
• Industry
• Industry refers to production of goods by manufacturing
• Row materials into finished good
  

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Type of industry

Genetic industry

• It is related to reproducing breeding and multiplying certain species of plants and animal with the object of earning profit from their sale

 Extractive industry

• Extractive o drawing out products from natural resources it supplies basic raw material to other industries like mining, farming, fishing etc

Construction industry

• It concerned with construction of road, bridge, dams etc.

Manufacturing industry

• Which engage in transformation of good, material into now products

Business as a system

• The system helps the business organization to achieve there goals
• A business system is a combination of policies, personnel, equipment to coordination the activities of a business organization
• Business system decides how date must be handled and is processed

 objective of business

• Profit maximization
• Survival
• Profit satisfying
• Sales growth
• Business and environment interface
• Both are interrelated and interdependent on each other for its survival and growth

 Interface between types of environment

1. Business and demographic environment

• Age, gender, starts and income and also it differ from country to country

2. Business and economic environment

• Any change in the economic policies and have a positive or negative impact

3. Business and technological environment

• Business is responsible for technology up gradation

4. Business and natural environment

• Business can’t take environment grunted

5. Business and cultural environment