nature and purpose of b/s

Mind Map by , created almost 6 years ago

bst Mind Map on nature and purpose of b/s, created by animesh.agarwal on 01/14/2014.

Created by animesh.agarwal almost 6 years ago
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nature and purpose of b/s
1 b/s refers to an occupation in which people regularly engage in activities related to purchase, sale or production of goods and services with a view of earning profits
2 classification of activities
2.1 economic
2.1.1 these are done to earn livelihood
2.1.2 categories business refers to those activities which are connected with the sale of goods and services with a motive of earning profit profession includes those activities that require special skill and knowledge employment employment refers to the occupation in which people work for others and get renumerated in return
2.2 non-economic
2.2.1 these are done out of sympathy and love
3 characteristics of b/s
3.1 an economic activity
3.2 production of goods and services
3.3 sale of goods and services
3.4 dealing in sale of goods and services on a regular basis
3.5 profit earning
3.6 risk bearnig
3.7 uncertainity of returns
4 classification of b/s acts
4.1 industry
4.1.1 PRimary extractive genetic
4.1.2 secondary manufacturing processing assembling analytical synthetical construction
4.1.3 tertiary
4.2 commerce
4.2.1 trade internal retail wholesale external import export entreport
4.2.2 aux of trade advertising finance transport warehousing insurance
5 objectives of b/s
5.1 market standing
5.2 innovation
5.2.1 inovation in product
5.2.2 innovation in various skills and activities
5.3 productivity
5.4 physical and financial resources
5.5 earning profits
5.6 manager performance and development
5.7 worker performance and attitude
5.8 social responsibility
6 business risks
6.1 types
6.1.1 speculative involve both possibily of gain and loss
6.1.2 pure possibility of loss or no loss
6.2 nature
6.2.1 b/s risk arise due to uncertainties
6.2.2 risk is essential
6.2.3 risk depends mainly upon nature and size of b/s
6.2.4 profit s the reward for risk bearing
6.3 cauases
6.3.1 natural
6.3.2 human
6.3.3 economic
6.3.4 other
7 starting a b/s
7.1 selection of line of b/s
7.2 size of firm
7.3 choice of form of ownership
7.4 location
7.5 financing
7.6 physical facilities
7.7 plant layout
7.8 competent workforce
7.9 tax planning
7.10 launching

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