Evolution and foundation of Business, Consideration before starting a new Business, Requisites of Business Success, Business environment: Concept and Components
Business is an economic activity consisting of production, distribution, exchange and auxiliary functions to satisfy the changing needs and demand of the customers to meet the economic goal of business.The business of present stage has been developed from the very beginning of human civilization.It has been evolved from self-sufficiency stage of modern technological stage.Industry and commerce is the two major components of business which is related to earning the profit and generating wealth.
A well-planned business ensures the success in future. At this competitive age, many factors are to be considered before starting a new business. A businessman needs to complete some mental exercise and legal documentation.
The forces of business environment are its components. They influence the operation the operation of business. They are internal and external components. business environment refers to the aggregate of all the factor which influences the business operation. It is composed of an internal and external environment. The internal environment is controlled by business whereas externally is not controllable by business.