1.
t
Traits of business
Activities: A business consists of various
activities basically economical and non-economical.
2.
Profit: The primary goal of business is to make
profit for its owners. It is the main incentive for starting a business. Other
goals of business can be growth, survival, market leadership, efficiency,
innovation, social responsibility and corporate citizenship.
3.
Customers:...
Thursday, February 19, 2015
Meaning of Small Business
Small business is an organization. It is engaged in production and
marketing. The various types of activities can be: manufacturing, services,
construction, transport and trade. It is everywhere.
The small business owner establishes and manages the business to attain
personal objectives. The business is an extension of the owner’s needs,
objectives and personality. The business growth is not a primary objective. The
aim is to continue operations over a long period of time. The major characteristics
of a small business are:
a.
Management...
