1) Social Responsibility: The only and one aim of business undertaking is not to increase profits. They own some responsibilities to the society also. The society expects business undertaking to provide cheap and better quality goods of consumers.They are also expected to contribute towards social amenities by opening schools, hospitals, parks etc, not only for the employees but also for people lining in those facilities.
2) Profit Motives: All business undertakings are run to earn profits. An undertaking started for social service will not be able to called business undertaking because the aim is not to earn profit. The incentive of earning profit keeps undertaking going. The aim is to get back more than what has been invested.
3) Dealing in goods ans services: All business undertakings deal in goods and services. The goods, may be consumer goods or producer`s goods. The consumers goods are those which are purchased by them for consumption or day to day use.
4) Continuity of Transactions: The transactions in a business undertaking are continuous or regular. They are engaged in a series of successive transactions over time and space.
5) Risk and Uncertainty: Every business undertaking is exposed to risks and uncertainties. Business is influenced by further events and further is always uncertain. There are chances of price fluctuations, demand charges, consumer likings and dislikings etc. There may be fire, earthquake, strike by workers etc. All these factors make a business undertaking risky and uncertain.
2) Profit Motives: All business undertakings are run to earn profits. An undertaking started for social service will not be able to called business undertaking because the aim is not to earn profit. The incentive of earning profit keeps undertaking going. The aim is to get back more than what has been invested.
3) Dealing in goods ans services: All business undertakings deal in goods and services. The goods, may be consumer goods or producer`s goods. The consumers goods are those which are purchased by them for consumption or day to day use.
4) Continuity of Transactions: The transactions in a business undertaking are continuous or regular. They are engaged in a series of successive transactions over time and space.
5) Risk and Uncertainty: Every business undertaking is exposed to risks and uncertainties. Business is influenced by further events and further is always uncertain. There are chances of price fluctuations, demand charges, consumer likings and dislikings etc. There may be fire, earthquake, strike by workers etc. All these factors make a business undertaking risky and uncertain.
0 comments:
Post a Comment