Nature and Scope of Business

You will find ...

• Work:
• Business title
• The nature and scope of the work

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Trade and commerce are generally the same . But the scope and level of meaning of the word "work" is very wide or broad.

Business is the production, distribution and support of goods and services for profit.

In business, the production process goes through the business through the industrial and distribution process.

The main activity in distribution is the sale or purchase of goods or the exchange of goods. Other work activities are considered strategic or ancillary activities for productive exchange.

Therefore, the work can be represented by the following formula .

∑B = ∑I + ∑T + ∑AT

over here

b = company

I = industry

T = Trade

AT = additional trade items

We know that business is a combination of industry and commerce. But in today's business, direct customer service, buying and selling are also important economic activities.

In general, although they are considered a profession, these freelance jobs can be considered a business.

 

Therefore, the scope of the work is divided into three main parts viz...

 

1. Industry.  

The process by which natural resources are harvested and used for human consumption is called industry.

 

Due to differences in production processes and efforts, the industry can be divided into the following sub-categories…

 

A) genetic industry . The industry in which manufactured materials are used for regeneration or production is called genetic industry. Such as hatchery, fish, poultry, etc.

 

b) Amazing industry. Industrial endeavors that extract resources from groundwater or air are called extractive industries. Mining, fishing industry.

 

c) Construction. The industrial endeavor that builds roads, bridges, dams, buildings, etc. is called the construction industry.

 

d) industrial industry. Manufacturing industry is the process of producing raw materials or profitable products suitable for human consumption through various processes with the help of manpower and machinery.

 

For example: textile industry, steel industry, etc. These branches can be divided into analytical, integrated, technological, additive, imaging, etc.

 

e) Service industry. An industry that works to make people's lives easier and more comfortable is called a service industry. Gas, electricity, telephone, etc. They are included in those areas.

2. Business.

Marketing is the sum total of operations to remove barriers that prevent the movement of raw materials and semi-finished products to the next producer and actual goods produced in the industry.

 

Therefore, trade is related to distribution activities as an important part of business. The items included in the trade are the following…

 

a) business; Buying and selling goods (including services) for profit is called business.

 

This removes personal barriers to transfer ownership of the distribution of the product through an exchange or purchase sale. Business can be divided into the following categories.

 

==> Domestic trade . The process of buying and selling within the geographical boundaries of the country is called internal trade.

 

In this case, the seller and the buyer are residents of the same country. By nature, it is divided into wholesale and retail.

 

==>Foreign Trade. Foreign trade is the process of buying and selling between two countries or businessmen of two countries.

 

There are three types of trade: import, export and re-export.

 

b) Business assistance. There are significant financial, structural, time and promotional barriers to a smooth buying and selling process.

 

To remove these barriers, cooperation between banks , insurance , transportation, storage, marketing , expansion, etc.

 

All these activities are owned by corporations, which are naturally for-profit organizations.

3. Direct services.  

Freelance doctors, lawyers, engineers, etc. sell services to make money directly. Their work is generally considered as an investment in business and basically as a profession or art.

 

However, a few doctors can start a clinical company or a few lawyers can start a law firm or engineers can start an engineering company with a strong business as a direct service provider.

 

In summary, trade is the sum total of a wide range of economic activities in today's global civilization. Manufacturing, distribution and support activities are covered directly or indirectly by business activities.

 

The real fact is that apart from business activities, people's economic activities cannot be considered at present.