WHAT IS

BUSINESS
 DEFINITION OF BUSINESS:
“ BUINESS IS AN INSTITUTION ORGANIZED AND OPERATED TO
PROVIDE GOODS AND SERVICES TO THE SOCIETY, UNDER THE
INCENTIVE OF PRIVATE GAIN – BO” WHEELER.
OBJECTIVES OF
BUSINESS
BUSINESS OBJECTIVES ARE CLSSFIED INTO FIVE
TYPES

 ECONOMIC OBJECTIVE
 SOCIAL OBJECTIVE
 HUMAN OBJECTIVE
 NATIONAL OBJECTIVE
 GLOBAL OBJECTIVE
ECONOMIC OBJECTIVES

 PROFIT EARNING
 CREATION OF CUSTOMERS
 REGULAR INNOVATIONS
 BEST POSSIBLE USE OF RESOURCES
 SOCIAL OBJECTIVES
I. PRODUCTION AND SUPPLY OF QUALITY OF GOODS AND
SERVICES
II. ADOPTION OF FAIR TRADE PRACTICES
III.CONTRIBUTION TO THE GENERAL WELFARE OF THE SOCIETY
HUMAN OBJECTIVES
 OF SOCIALECONOMIC WELL BEING OF THE EMPLOYEES
 SOCIAL AND PSYCHOLOGICAL SATISFACTION OF EMPLOYEES
 DEVELOPMENT OF HUMAN RESOURCES
 WELL – BEING LY AND ECONOMICALLY BACKWARD PEOPLE
NATIONAL OBJECTIVES
 CREATION OF EMPLOYMENT
 PROMOTION OF SOCIAL JUSTICE
 PRODUCTION A CORDING TO NATIONAL PRIORITY
 CONTRIBUTE TO REVENUE OF THE COUNTRY
 SELF SUFFICIEENCY AND EXPORTPROMOTION
GLOBAL OBJECTIVES

• RAISE GENERAL STANDARD OF LIVING

• REDUCE DISPARITIES AMONG NATIONS
• MAKE AVAILABLE GLOBALLY COMPETITIVE
GOODS AND SERVICES
 DEFINITION OF COMMERCE :
COMMERCE IS THE SUM TOTAL OF THOSE PROCESES , WHICH ARE
ENGAGED IN THE REMOVAL
OF HINDRANCES OF PERSONS PLACE AND TIME IN THE EXCHANGE OF
COMMODITIES .
“ STPHEN JAMES
 MEANING OF PROFESSION
.

PROFESSION IS A FORM OF ECONOMIC ACTIIVITIES

WHERE IN SPECIAL SKILLS KNOWLEDGE AND
EXPERTISE IS REQURIED TO BE APPLIED BY THE
PERSON , IN HIS OCCUPATION .
THANK YOU FOR THIS
OPPORTUNITY