Business consist of number of element such as production and marketing pf goods and services for services for the purpose of earning profits. It is an undertaking of an individual or a group of individuals which involves some degree of risks. It uses lawful and ethical means for earning profit.
L.H. Haney- Business may be defined as a human activity directed towards producing or acquiring wealth through buying and selling of goods.
B.O. Wheeler- Business is an institution organized and operated to provide goods and services
to services to society under the incentive of private gain.
R.N.Owens- Business is any enterprises engaged in the production and distribution of goods for sale in market or rendering services for a price.
K.Davies&
R.L.Bloomstorm-The term 'business' refers broadly to both private and public institution which developed and process economic values in a society.
Although, the words and contents as above definitions are different,they carry almost the same meaning. A Business is an economic activity, which is concerned with the production and sale of goods and services to the society so as to earn profits by satisfying the member of the society.
0 comments:
Post a Comment