Business Organization
BBA 102: Business Organization UNIT I Business We may define the term business in the following words : "As an institution organized by person or group of persons to produce or distribute goods or services within incentive of earning profit through the satisfaction of human wants. The element of risk is also involved in it." Following are the main characteristics of a business : 1. Every business deals in goods and services. 2. The profit motive in the business is essential. 3. Element of risk is also involved in business. 4. In a business there should be a series of deal. 5. People should do the business for money. Free consumption of goods is not included in business. Business Organization A business organization is an institutional arrangement to form any business activity. An entity formed for the purpose of...