Business is any activity that involves the exchange of money for a product or service. It is an economic activity that is engaged in to make profits and earn remuneration. Business also refers to the organization or management of such activities. Business involves a complex network of people and resources, including employees, raw materials, suppliers, customers, financial institutions, and government agencies. Business is a vital part of any economy. It provides the goods and services required for human survival in society and helps in generating wealth and growth.
A business article is a piece of writing that offers information of interest to readers. It could be a case study, an analysis of business trends, or comment or opinion on important issues. A business article should always have a clear and concise message that can be easily understood by the target audience. It is also important to have good grammar when writing a business article. Poor grammar can make the article seem unprofessional and show a lack of skill.
The first social objective of any business is to provide useful products and services at reasonable costs to the consumers. This can be done by introducing efficient design, latest technology and upgraded machinery into the process of production. Large corporations invest a lot of capital in Research and Development to keep their competitive edge.
Another social objective of business is to provide employment opportunities to the people. It can be achieved by creating business enterprises in the fields of manufacturing, agriculture, forestry, mining, horticulture, printing, importing and exporting. Businesses can also help in the upliftment of the weaker sections of the society by building schools, libraries, dispensaries and hospitals.
Business can also contribute to the economic growth of a country by attracting foreign investments. The economic policies of a country are directly related to the level of business and industrial activity in that country. A country with a well-developed business sector and low tariffs is more attractive to investors.
A business can be a sole proprietorship, a partnership or a corporation. A sole proprietorship is a form of business that has one owner and operates for profit. The owner is personally liable for all debts that the business incurs, and is taxed on all income from the business. The other type of business is the partnership, which is a legally recognized relationship between two or more individuals who share ownership and responsibility for an enterprise. Partnerships are also subject to state laws that govern the operation of the business and the distribution of profit.
The modern American culture of business may have become distorted by a heady doctrine that proclaims the market king and always gives priority to the shareholder. This doctrine enthralled America for a generation, and infected Britain during the Thatcher years. But it is time for the Anglo-Saxon world to restore confidence in the wealth-creating potential of business, and in the corporate culture that makes it possible. A few changes would be a start: more honesty and real-world reporting of results, and a less cultish obsession with the bottom line.