All Entries in the "Management" Category

Management: Kinds of Business

Business activities may be divided into three kinds:

Industry
Commerce
Services

Why People Engage in Business

Human behavior, involves a complicated process of stimulus-and-response system to many factors and motives.  People engage in business because of the following reasons: 

Power
Profit
Service to the community
Prestige
Livelihood
Social approval, etc..

Responsibility of a Business Enterprise

A business enterprise is a part of a larger economic system.  Other groups and individuals affect the way business is managed.  They are the owners of the business, employees working for the enterprise, customers buying the goods and services selling machinery, equipment, or materials to the enterprise.  The business company must also follow all government [...]

Elements of a Business System

Economics is the study of how a society produces and distributes its desired goods and services.  It deals with how society uses it resources to produce goods and services.  These economic resources to produce are called factors of production.  They are land, labor, capital, and the entrepreneur. 
·        Land pertains to all natural resources, including [...]

Relationship between Business and the Economy

Basically, the role of business is to produce goods and services which consumers need.