Definition of Business

People have been encouraged to meet their needs since the beginning of human activity. Different financial resources of people arise from different needs. Apart from earning money to satisfy their needs and wants, people are involved in various business ventures and activities. Therefore, the business operations are based on their financial activities.

Simply put, the word "business" means "busy". But ideally companies cannot be said to be employed. The state of your business, ie involvement in financial activities, can be business related. Therefore, all financial activities aimed at satisfying needs are called business.

Again, not all financial activities are commercial. For a financial asset to be considered a business, it must be valid and legal. Not only that, it must have benefit, continuity, risk and uncertainty, profit and loss.

According to Lewis E. Bohn and L. Kurtz, "Business includes all commercial and for-profit organizations that provide goods and services essential to the economic system."

Peterson and Plowman also talk about business: "Business can be defined as an activity in which many people exchange goods or services of value for a common benefit or benefit."

Business has reached a new dimension these days. The term "business" or its various aspects has become more organized, planned and developed since the beginning of civilization.

Bo Wheeler said, "Business is an institution organized and operated to provide goods and services to society by motivating self-interest."

LH Haney quotes about business: “Business can be defined as a human activity aimed at creating or acquiring wealth through the buying and selling of goods.

Skinner and Ivancevich "Trade is the exchange of goods, services or money for mutual benefit or advantage."

Business Features – Some popular and important business features are mentioned here…

1. strive for profit
2. entrepreneurship
3. risk and uncertainty
4. legality
5. continuity
6. finance
7. Price-performance ratio
8. create resources
9. Buy and sell
10. ethics
11. predictions
12. freedom
13. flexibility
14. service
15. specialization
16. wealth grows
17. business
18. research
19. public safety
20. raising the standard of living

In the last point we can say to make profit, produce or buy and sell products, services etc. Enterprise is a condition in which the creation and production of consumption is guaranteed, as well as risks and uncertainties such as continuity and replenishment of shortages of physical and non-physical things.