Business

Introduction: Business is a noble profession. Earning a livelihood based on the acquisition of specialized knowledge is called a profession. The importance of business as a profession is immense. People benefit themselves and society through money earned through business. So business as a profession is very important. Business is an important profession in earning a living. Along with its own development in business, it helps in the development of the society.

Checking whether a business is a profession: According to Hodge and Johnson, a profession is a highly skilled professional work that is applied with great expertise in some service area that is very necessary for society. What is the profession that needs to be known before verifying whether it is a profession in business? Profession means an economic activity that requires professional knowledge and experience in the subject before performing the work.

For an activity to be considered a profession, it must have the following characteristics. For example-

(a) To acquire special knowledge or training in a subject. (b) To provide service advice to others through profession.

(c) An association of specialist professionals is established.

(d) Members must obtain certificates from professional associations.

(e) Members regularly pay subscriptions to the Association.



S

Trans

Transl

Intoduction: All types of human endeavors involving risk and quantifiable financial value for the purpose of earning money are called business. Irrespective of the ownership, nature, size, field or purpose of a business, it has certain basic characteristics.

→ Features of business: Following are the features of business- 1. Profitability: The main feature of business is profitability.

Any activity other than making a profit does not come under the purview of business. It is not considered to be a business if there is no profit motive. C. B. Gupta says, “Every business is run for the purpose of acquiring wealth and making profit.” But profit is not the only goal of business.

2. Entrepreneurship: One of the hallmarks of business is initiative. To form, operate or expand a business, either individually or jointly. Businesses cannot be formed, operated and prospered without initiative. It is essential to take initiative in setting up new business establishments.

3. Risk taking: Risk taking is essential in all types of business. No business can be run without taking risks. S.S. According to Sarkar and others, business involves many elements of risk and uncertainty.

4. Production of goods and services: Various goods and services are required to fulfill the various needs and needs of people. Aiming at the needs of the people living in business society, they produce various goods and services by extracting natural resources and making them suitable for human use.

5. Creation of utility: The scarcity of a commodity is called utility. Business creates spatial, temporal, morphological and risk utility of products, services, advice etc. Economic activity that does not generate utility is not considered business.

6. Funding: In order to do business, you need to fund the necessary capital. Finance is absolutely essential to set up and run any business, big or small. This money used in business enterprise is called business capital.

So it can be said that one of the characteristics of business is capital.The place or area around which a business or industrial establishment is established and operated is called business location. The factory and head office of the business may be at the same place or at different places. In this case business location refers to both locations. For example, Pertex Group's factory is in Noakhali and its head office is in Dhaka, so both their locations will be considered as business locations. Success and failure in business largely depends on location. The better the location of the organization, the more likely it is to succeed. That is why many considerations should be placed before setting up a business. For example, a confectionary or a grocery store at the entrance to the street will be crowded, but it will not be like that if it is inside.

Therefore, from the above discussion, it can be said that the place or area where the business is established and operated is called the location of the business.

Waiting