Marg DarshanMarg Darshan
  • Home
  • Bhakti
    • Tyohar
    • Vrat
    • Vrat Katha
    • Aarti
    • Puja Vidhi
  • Technology
    Technology
    Stay up-to-date with the latest advancements in technology through articles, insights, and resources that explore innovations, trends, and breakthroughs shaping the future.
    Show More
    Top News
    How Social Media Effect our Life:
    November 19, 2024
    TECHNOLOGY AND INNOVATION: FEULING HUMAN PROGRESS IN THE FUTURE
    November 22, 2024
    Unlock Your Potential: The Power of Education and Self-Development
    November 16, 2024
    Latest News
    The Rise of Cybercrime with the Help of Artificial Intelligence
    December 31, 2024
    ISRO Launch It’s Major SPADEX Mission
    December 24, 2024
    Elon Musk and Starlink: Connecting the World
    December 21, 2024
    Renewable Resources: The Future of Energy
    December 21, 2024
  • Business
    Business
    Explore the dynamic world of business with articles, insights, and resources on the latest trends, strategies, and innovations shaping industries and driving entrepreneurial success.
    Show More
    Top News
    How Social Media Effect our Life:
    November 19, 2024
    Why Uber Charges Different Prices for the Same Place on Different Phones
    December 25, 2024
    Elon Musk’s Starship Project: A Leap into the Future of Fast Space Travel
    November 17, 2024
    Latest News
    Beginner’s Guide to Investment: Investment Made Easy
    April 23, 2025
    Scalable Business Model in 2025: Key Strategies for growth
    February 4, 2025
    Marketing Trends in Social Media 2025: what startups must know?
    January 27, 2025
    Is Nissan and Honda and Mitsubishi Motors Merger
    December 28, 2024
  • Web Stories
  • PDFs
    PDFs
    Get various ‘Chalisas’, ‘Aartis’, ‘Stotra’, etc. with their respective PDF files which can be downloaded in a single click.
    Show More
    Top News
    Vishnu Sahasranamam Lyrics - Image
    Sri Vishnu Sahasranamam Stotram With PDF in Sanskrit – श्री विष्णु सहस्रनाम स्तोत्रम्
    April 29, 2025
    Shri Sukt with PDF | श्री सूक्त का पाठ करने के लाभ और विधि
    December 24, 2024
    Kanakdhara Stotra labh
    Kanakdhara Stotra PDF: कनकधारा स्तोत्र पाठ की विधि, लाभ, कथा और हिंदी अनुवाद सहित
    April 30, 2025
    Latest News
    NEET 2025: Everything you need to know about NEET
    January 25, 2025
    Sankat Nashan Ganesh Stotra PDF: संकटनाशन गणेश स्तोत्र महिमा, पाठ एवं विधि
    December 28, 2024
    Hanuman Chalisa PDF: हनुमान चालीसा पाठ करने का सही तरीका
    December 27, 2024
    Kanakdhara Stotra PDF: कनकधारा स्तोत्र पाठ की विधि, लाभ, कथा और हिंदी अनुवाद सहित
    April 30, 2025
  • About
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer
    • About Us
    • Contact Us
    • Contact No.
Reading: Fundamentals of business
Share
Notification Show More
Font ResizerAa
Font ResizerAa
Marg DarshanMarg Darshan
  • Home
  • Bhakti
  • Technology
  • Business
  • Web Stories
  • PDFs
  • About
  • Home
  • Bhakti
    • Tyohar
    • Vrat
    • Vrat Katha
    • Aarti
    • Puja Vidhi
  • Technology
  • Business
  • Web Stories
  • PDFs
  • About
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer
    • About Us
    • Contact Us
    • Contact No.
Have an existing account? Sign In
Follow US
© 2025 Marg Darshan News Network. An Unbiased Tunnel For Latest News. All Rights Reserved.
Marg Darshan > Blog > Economy > Business > Fundamentals of business
BusinessEconomy

Fundamentals of business

All human being perform some activities for satisfaction of their needs. They persue some occupation to earn a livelihood and get some psychological satisfaction

Anushka Mishra
Last updated: November 22, 2024 1:46 pm
By Anushka Mishra
7 Min Read
Share
SHARE

All human beings perform some activities for the satisfaction of their needs. They pursue some occupations to earn a livelihood and get some psychological satisfaction. Some activities are performed for profit motive but some to derive personal satisfaction.

Contents
WHAT IS BUSINESS?SOME OTHER ECONOMIC ACTIVITIESNON ECONOMIC ACTIVITIESCHARACTERISTICS OF BUSINESSMULTIPLE OBJECTIVES OF BUSINESS

WHAT IS BUSINESS?

According to Peterson and plowman, Business is an activity in which different persons exchange something of values, whether goods or services for mutual gain or profit.

• There is no minimum qualifications required to start a business.

• Some money as capital is required before starting a business and it depends on the scale of business

• In business there is always a chance of risks and uncertainties.

• The reward for business issues called profit.

SOME OTHER ECONOMIC ACTIVITIES

  • Profession: Profession refers to the activities which require special knowledge and skill of any field and applying the skills to earn a living. A prescribed and professional qualification and training is required for any profession. Limited capital investment is required. In profession a little risk is present. The main motive is to provide services. Reward for profession is called fees
  • Employment :Employment refers to the activity which an individual performs under an employer who employs them. The qualification is depending upon the nature of business. No capital investment is required. There’s no risk involved in profession. Reward for employment is called salary or wage.

NON ECONOMIC ACTIVITIES

The activities which are undertaken for the purpose of getting psychological satisfaction is known as non economic activities. For example: charitable activities, going to temples, social services etc.

CHARACTERISTICS OF BUSINESS

  • An economic activity: Business is an economic activity as it is concerned with the earning of profit and not psychological satisfaction.
    • Production or procurement of goods and services: Each and every business either produces or procures goods or services. Goods may be consumer or industrial and service may be warehousing, banking or insurance.
    • Sales or exchange of goods and services for the satisfaction of human needs: A business that is not satisfying the needs of others will not be considered as business. A farmer growing crops for himself is not business but if he is selling crops to others so it will be referred as business. Similarly buying gifts for someone is also no a business. So there must be sales and exchange of goods and services in doing of business.
    • Dealing in goods and services on regular basis: Buying or selling of goods or services once or twice is not business. Also one single transaction does not constitute to be business. In business regularity is very important.
    • Profit earning: The profit is the main motive of business and business giving no profit is not a business. No businessman can survive without profit.
    • Uncertainty of return/risk: There is always a chance of risk or uncertainties in a business. Risks occurs due to changes in market, customers taste and preferences, accidental losses etc.

    MULTIPLE OBJECTIVES OF BUSINESS

    The business objectives are mainly classified into three categories:

    ●Economic objective

    》Survival: The purpose of business is to exist and survive in competition and in market and it is possible only is business is earning some good amount of profit.

    》Profit: Profit is the reward for bearing the risks. Profit is important for growth, expansion and survival too. Profit is also the main motive of business as no business can survive without profit.

    》Growth: A business organization must grow and expand. The growth rate is increased if there us more profit and growth is measured through number of branches, number of employees etc.

    ●Supply of desired qualities of goods and services: Consumers prefers to buys good qualities of products that too in a reasonable price. Quality is meant differently for different products like for products like gas cylinder and pressure cooker the quality may be safety and for pulses, spices qualities may be purity. The businessman must provide goods with good quality to maintain reputation in the society.

    ●Avoidance of unfair trade practices: No one in the society accepts any anti-social practices. Anti-social practices includes black marketing, overcharging, exaggerating in advertisement etc. With these practices a businessman can loose his reputation in the society. The businessman can even be punished of doing such activities.

    》Employment generation: Unemployment us the major problem of every society so businessman must provide new business opportunities for overcoming of this problem.

    》Avoidance of pollution: Industrialization bas led to a large problem of pollution so businessman must take care of the environment for the production of goods and services. They must avoid dumping wastes in the water and must bring new environment friendly techniques for production of goods and services.

    》social services: The businessman must undertake various projects for the society for their welfare such as running charities, school or hospitals. They can also help society by helping social services programmes such as NGOs, donating money in orphanages etc.

    ●Human objectives

    》providing good working conditions.

    》paying competitive and satisfactory salaries and wages.

    》Giving peer recognition to every employee by involving them in decision making.

    》providing special benefits to employees such as housing facility, medical facility or free education of children etc.

    TAGGED:basic business fundamentalsbusiness development fundamentalsbusiness development fundamentals pdfbusiness ethics fundamentalsbusiness fundamentalsbusiness fundamentals definitionbusiness fundamentals examplescleaning business fundamentalsdefine business fundamentalsMarg DarshanMarg Darshan ChannelMarg Darshan Sadhana PandeyMarg Darshan websiteMarg Darshan YouTubeSadhana Pandeyमार्ग दर्शन
    Share This Article
    Facebook Email Print
    ByAnushka Mishra
    An enthusiast author at Marg Darshan who holds the proficiency in the fields of Finance, Ethics and Sports.
    Previous Article Mahashivratri Vrat 2024: जानें तारीख, पूजा विधि, शुभ मुहूर्त और व्रत के नियम
    Next Article Renewable Resource Electric vehicles : A step towards a sustainable future
    Leave a Comment

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    If the guidance is right then even a small lamp is no less than the sun..

    Must Read

    • Top 10 Study Apps That Actually Help You Learn Better
      ~ Anushka Mishra
    • Gupt Navratri Day 7: सातवे दिन करें मां कालरात्रि का पूजन | पढ़े विधि व कथा
      ~ Anushka Mishra
    • Sawan Somvar Vrat Katha: पढ़े सावन सोमवार व्रत की कथा व शिव आरती
      ~ Anushka Mishra
    • Gupt Navratri Day 6: छठे दिन करें मां कात्यायनी का पूजन, नोट करें विधि व कथा
      ~ Anushka Mishra
    • Durga Saptshati (Sanskrit): पढ़े दुर्गा सप्तशती का चौथा अध्याय
      ~ Anushka Mishra

    About Us

    This website being operated and owned by Marg Darshan India Private Limited.

    Varanasi

    [email protected]

    Facebook Youtube Instagram Rss

    Quick Links

    • Tyohar
    • Vrat
    • Vrat Katha
    • Aarti
    • Puja Vidhi
    • Technology
    • Business
    • Politics
    • PDFs

    Important Links

    • Privacy Policy
    • Terms & Conditions
    • Disclaimer
    • About Us
    • Contact Us
    • Contact No.

    Must Read

    Top 10 Study Apps That Actually Help You Learn Better

    Read More »

    Gupt Navratri Day 7: सातवे दिन करें मां कालरात्रि का पूजन | पढ़े विधि व कथा

    Read More »

    Sawan Somvar Vrat Katha: पढ़े सावन सोमवार व्रत की कथा व शिव आरती

    Read More »

    Gupt Navratri Day 6: छठे दिन करें मां कात्यायनी का पूजन, नोट करें विधि व कथा

    Read More »
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?