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Business studies is a major subject in social sciences which deals with some of the major concepts such as accountancy, finance, marketing, organization etc. Business studies describe how an individual or people plan, organize and act to make goods and services to satisfy customers with various strategies. Factors which affect a business are listed below:
Business studies is a collection of business theoretical approaches, relevant contexts and business theory. It provides natural links to the social sciences learning area. Technology also plays an important role in modern business strategies. Sustainability, enterprise, citizenship and globalization are some of the issues central to both business and the study of business. It helps in making informed decisions for everyday business of living. Business studies define the working of a business. It sets a business and plans to achieve the respective goals for that business. It describes ways to use staff and resources in a right manner for the growth of the businesses. It also helps in production and marketing as well as manages the accounts and finance department of an organization.
Business study is the study of management and economics and it teaches the principles of the business, economics and management. Business studies helps in understanding the activities related to the production and purchase of goods and services and the profit earned from these and these activities are known as business activities.Business represents the combined efforts of individual or different individuals groups for making a living. Business studies means studying business techniques, efforts or methods.
Business studies includes studying activities like production of goods, which material or goods needs to be purchased, what kind of staff or employees needed to do the work, how much profit can be attained after the goods made. The main purpose of business studies is to know about the activities that can help in seeking profit and also what kind of goods and services the business enterprises should produce so that it can help the economic system too. It helps in understanding the following things:Business activities classification, Types of industry, Commerce and E-Commerce, Advantages and Disadvantages of different activities in the Business, Profit maximization, Effects on economic system.
Industry is refereed as production side of a business; it is a business activity and these activities are related to raise, produce, and process and manufacture products, goods or services. These products, goods or services are both producer as well as consumer good. Consumer goods are the one which is the final product and used by the consumers e.g., textiles, foods, etc. Producer's goods are the one which are used by the manufacture for making or producing new goods e.g., machinery, equipments, tools, etc.
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