Skip to main content

Introduction to Business Studies


Hello Readers,
       
             Business studies is one of the important subject of commerce stream. Students think that it is very boring because it is a theory subject, but it's not like that infact it is a very marks scoring subject, if  you study properly. Before starting the chapters it is neccessary to know the importance or relevance of this subject in today's world.


Introduction to Business Studies
     
       Business Study is the study of  how business work, especially the financial and the management aspects of business. Business studies helps you to make more informed decisions in the everyday business of living. 
         It gives you a better understanding of the world of work. It encourages you to think about how and why people start up in business and why you too might also consider starting a business.





Importance of Business Studies

* Business studies helps to provide opportunity for self-development

* It provides opportunity for making career selection

* It helps individual to make better investment decision

* The knowledge of Business studies help consumer to make better decisions about thier daily needs.

* It provides knowledge of the activities of commerce in the marketing of goods and services.

* To provide study of the more important aspects of the commercial world.

Please follow this blog to know more about business studies. I will be uploading chapter notes, question bank for every chapter in this blog.. Hope it will be helpful for you all..😊

Comments

Post a Comment

Popular posts from this blog

What are the various factors that should be considered while choosing the most suitable form of business organisation?

The choice of the best suitable form of organization is a very crucial decision. So, the choice should be made with great thought and consultations. Each form of business organization has its own advantages and disadvantages, and these should be considered before choosing the form of organization. The following are the various factors that should be considered while making the selection of the form of organization: 1. Nature of business: The nature of business has an important role in the choice of the form of business organization. Businesses providing direct services, like small retailers, salons, tailors, restaurants, and professional services depend on their success upon personal attention to customers and the personal knowledge or skill of the owner and are, therefore, organized as proprietary concerns. Business activities which required pooling of skills and funds, like wholesale trade, accounting firms, tax consultants, stockbroker, are better organized as partnerships. 2. Size...

Sole Proprietorship

       Sole Proprietorship is a popular form of business organization and it is the most suitable form of organization for small businesses. It is one of the oldest, simplest, and common form of business organization. Sole proprietorship form of business is established, financed, owned, and managed by a single person who is known as, Sole Trader or Sole Proprietor . The sole trader bears all the risks and he alone is responsible for all the profit and losses of his business. He may borrow funds and employ people to help him but the ultimate authority and responsibility lie in his hands. Therefore, Sole trader business is a one-man show. Definition of Sole Proprietorship by L.H. Haney        The individual proprietorship is the form of business organization at the head of which stands an individual as one who is responsible, who directs its operations and who alone runs the risk of failure. Definition by B.O. Wheeler       The sole ...

Classification of Business Activities ( Part 1) - Industry

Business activities may broadly be classified into two categories:   Industry – Industry involves the production of goods and materials   Commerce – Commerce is concerned with the distribution of goods and services.   Industry and Its Types     Industry means the production of goods for sale by the application of human or mechanical power. It is concerned with changing the form of goods from any stage from raw material to finished product. Thus, Industry creates utilities for the satisfaction of human wants and to earn profits.   Examples of Industry - Converting  cotton into  cloth,  breeding  cattle , constructing houses.   Industry involves in the production of consumer goods and producer goods. Consumer goods are produced for direct use by people e.g. bread butter, cloth, spices etc. Producer goods or capital goods are required for the production of consumer goods e.g. raw materials, machinery, equipment, plastic, rubber,...