CHARACTERISTICS AND OBJECTIVES OF BUSINESS

CHARACTERISTICS AND OBJECTIVES OF BUSINESS

Definition of Business:- Business is a wide term. It is the composition of two words 'Busy + ness'. It means any activity in which we remain engaged to earn a profit on a regular basis. 

   

Characteristics/Nature of business:-

 

• Business is an economic activity which aim is to earn money.

• The main purpose of business is to earn profit and sharing it with their partners and owners.

• Every business is subjected to risk. It means the possibility of losses and if there is no risk then we can't say it business. 

• Exchange of goods and services must be on regular basis.

• Business involves the production of goods and services and creating customers.

   

Objectives Of Business:-

The business objectives may be classified broadly into three categories. These are:

 • Economic objectives

 • Social objectives

 • Human or Individual Objectives 

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