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Business Environment
CA-IPCC

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Following is a sample excerpt from STRATEGIC MANAGEMENT - By CA K S Jolly
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TOPIC:
2 Business & Its Objectives

Human activities can be classified into two broad categories as:
1 Economic activities - Activities, which are performed with an economic motive, and
2 Non-Economic activities - Activities, which are not performed to earn money but with social or
psychological motive.
Occupation
Occupation means keeping oneself engaged or occupied in some gainful economic activity on a regular basis to
earn ones livelihood.
Occupations may be classified into three broad categories:
1 Profession - profession refers to an occupation, which requires specialised knowledge and training to
pursue it.
2 Employment - Employment refers to an occupation in which a person works regularly for others and gets
wage/salary in return.
3 Business - Business refers to an occupation in which goods and services are produced, sold and exchanged
in return of money.
2.1 Business
The term business refers to
- all economic activities,
- pursued mainly to satisfy the material needs of society,
- with the purpose of earning profits.
Such activities include exchange of goods and services on a regular basis and carry an element of risk and
uncertainty.
Manufacturing, trading, mining, banking, transport, insurance, etc. are all different types of business.

Business activities are classified into two categories:
1 Industrial activities - activities related to production or extraction of goods through utilisation of various
resources; and
2 Commercial activities - activities which are undertaken for sale or exchange of goods and services and
facilitates their availability for consumption and use.





1
Business Environment
CA-IPCC

www.coursemateonline.com



+91 99887 12345