NATURE OF BUSINESS

THE MEANING AND NATURE OF BUSINESS CAN ALSO BE EXPLAINED WITH THE HELP
OF FOLLOWING POINTS:

1=BUSINESS IS A HUMAN ACTIVITY:
BUSINESS IS PURELY A HUMAN ACTIVITY. IT IS THE HUMAN BEING WHO STARTS BUSINESS,EARNS PROFIT AND MANAGES DIFFERENT FACTORS RELATED TO THE BUSINESS.
2=BUSINESS IS A SYSTEM:
BUSINESS IS A SYSTEMATIC AND SOUND ARRANGEMENT OF VARIOUS FACTORS, WHICH NEEDS TO THE FULFILLMENT OF PARTICULAR OBJECTIVE ACCORDING TO A WELL-ESTABLISHED STRATEGY.A BUSINESS ENTERPRISE IS A COMBINATION OF A VARIOUS SUB-SYSTEMS.
3=BUSINESS IS A SOCIAL PROCESS;
BUSINESS IS A PROCESS, WHICH IS RUN BY THE OWNERS WITH THE HELP OF EMPLOYEES, PROFESSIONALS AND CUSTOMERS, THESE PEOPLE ARE THE PART OF SOCIETY WHOSE WELFARE IS THE RESPONSIBILITY OF BUSINESS . THUS THE BUSINESS IS A SOCIAL PROCESS.