Nature and significance of business
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Transcript of Nature and significance of business
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CLASS 1 1Business studies
CHAPTER – NATURE AND PURPOSE OF
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HUMAN ACTIVITIES
Activities performed by human beings to meet needs and wants or for personal satisfaction. Human activities can be categorized as Economic and Non-Economic activities.
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TYPES OF ECONOMIC ACTIVITIES
BUSINESSEMPLOYEMENTPROFESSION
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CLASSIFICATION OF INDUSTRIES
INDUSTRY-◦PRIMARY INDUSTRIES EXTRACTIVE INDUSTRIES GENETIC INDUSTRIES
oSECONDARY INDUSTRIES MANUFACTURING INDUSTRIES ANALYTICAL INDUSTRIES SYNTHETICAL INDUSTRIES PROCESSING INDUSTRIES ASSEMBLING INDUSTRIES CONSTRUCTION INDUSTRIES
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TERTIARY INDUSTRIES provide supporting services to primary and secondary industries.
They provide services in the field of banking , communication, transportation, advertising, warehousing etc.
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CHARACTERSTICS OF BUSINESS
ECONOMIC ACTIVITYSALE OR EXCHANGE OF GOODS AND
SERVICESPROFIT MOTIVEELEMEN TOF RISKUNCERTAINITY OF RETURNDEALING ON REGULAR BASIS
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OBJECTIVES OF BUSINESS
ECONOMIC OBJECTIVESProfitSurvivalGrowth
Social objectives Employment opportunities Social welfare Employee welfare and development
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ROLE OF PROFIT
REWARD FOR BEARING RISKCREATING CREDITWORTHINESSYARDSTICK FOR BUSIENSS PERFORMANCE
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Business risk
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CAUSES OF BUSINESS RISK
NATURAL CAUSESHUMAN CAUSES ECONOMIC CAUSESEXTERNAL CAUSES
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TYPES OF BUSINESS RISK
SPECULATIVE RISKSPURE RISKSINSURABLE RISKSUNINSURABLE RISKS
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