In other words it is a code of conduct of businessmen like producers, marketers, traders etc. All content in this area was uploaded by Mukaila Aremu on Mar 29, 2016, University of Ilorin, Ilorin, Kwara State Nigeria, E-mail:,, Individual lives in a business environment which is, question arises as to why we all keep ours. important areas that are generally acceptable as posited by Khanchi (2014). The essence of costs and the ability to measure them in business are th. h�dTao�6����jc�,�I� E%q5�Dn��BS��tIʞ��{��x[ Q���ݽ{�~8��>~g����&TTV섦۶vD�JkA�-w��,;�%��JT���1��_�����mŖ-�MӰ�np]����n4۱�h�:��9R��&A{U�d�d���*�����?�|��9p�$[O ��5��ik��f� The organisation structure is also viewed differently by vari­ous writers. Each person in the department will be given a specific part of the job to do and will be made responsible for it. Ninety two per cent of the respondents were wage labourers and among them, a majority (52%) of women performed both construction and road work, and 40% performed only construction work. This determines the company success and optimally satisfies the customer’s needs. which are explained in the following lines. progress and achievements of its own country to the outside world. No one can discharge his respon­sibilities regarding a particular work in the absence of requisite authority to do the same. The reward of business is profit. In horticulture they have started using technology, pesticides and chemical fertilizers to maximize their production and profit. They should go beyond statistics on labor involvement, or questionnaire-elicited "attitudes," and focus on how people perceive work, and the alternative modes of employment open to them. is a platform for academics to share research papers. ECONOMIC ACTIVITY Economic activities are those by which we can earn our livelihood. One of the leading theorists on management problems, Peter Drucker, says it this way: The marketing purpose is to make efforts on unnecessary sales. An immediate question they were facing in 2011 was whether or not to spend $75,000 to replace reel-to-reel with digital projection. Objectives of business are the purpose for which the business is established and performed. By participating in international trade fairs and exhibitions it also demonstrates the progress and achievements of its own country to the outside world. Concept and Definition of Organising and Organisation: Importance and Significance of Organisation. share is to dominate the market and possibly increase their product prices. or long run. Read this article to learn about Organisation. The work of organising in this way looks to the structural as well as functional aspects of business and correlates the different factors with their functions. More also, in d. he/she to consider in the in the business purpose. The expansion of market-oriented and industrially organized activities over the world entails a revolutionary change in mode of livelihood for literally millions of people. valued; the purpose of business is to make a profit because economic wealth is, overall aim of earning profit. NCERT Chapter MCQs 1. 3. SlVl&��! endstream endobj 522 0 obj <>stream h�2�0R0P0�0V01R& On the other hand, ‘Organisation’ is the structure in which harmonious inter-relationship of functions and personnel is created through the process of grouping the work to be performed, allocating duties and responsibilities, and delegating authority for the purpose of realising the objectives of the enterprise. The best app for CBSE students now provides Nature and Purpose of Business class 11 Notes Business Studies latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. The principal advantages of organisation may be stated briefly as follows: A properly designed organisation facilitates administra­tion. Business improves national image of producing country by producing and exporting quality goods and services to foreign countries. ?�bQ|�PH�e еE�6]�|�!��X�� ��݉�)Y��P)��������3��2�r� 7L8�eJh�����`*����9]@.X. Nature of Organisation 3. about pricing method, differential pricing, price forecasting, etc. Now the question arises as to why we all keep ourselves busy day and night. individuals involving in business is to make profit. We can … Before publishing your articles on this site, please read the following pages: 1. This is because business improves the standard of living of the people by providing better quality and large variety of goods and services at the right time and at the right place. Access scientific knowledge from anywhere. of (i) persons through trade; (ii) place through. An employee is. �mm,������^#:Q�ҫ��I���V��8����B�U����D�8�B|p�g�`�4�XS�K��*Fhk�S�w���"�V ���u����5�*&Y�03�T���uK2d�J�)�L���?�u�}k���1S���'!F�ў��ԇ%h �1I�Q�n�h�xc� d�8����~�� ]���g���0�����8�[���b��W����o��Yz>���t������4}�R��!�#�����x�I���?�-���b��w���0c;�����o�$I @ w{��š�HoJ|���F�*̓�� and thus provides guidelines for manipulating demand. The term ‘Organising’ and ‘Organisation’ are given a variety of interpretations. Editors: Gunu, U, Kasum, A. S. & Mustapha, I. Y. The income of majority of respondents ranged from Rs 2 000 to Rs 3 000 per month and their family income was also within the range of Rs 2 000 to Rs 8 000. The two parties are buyers and sellers. corporate income is, at occasions taxed twice which is double taxation. ��,�9�����\�(�}P�� Lewis, H. (2011). (2008). keeps it in existence. business is a branch of human life; business ethics means a set of rules for conducting the business activities in the context of morals of the society. It thus combines and co-ordinates their ac­tivities for commonness of purpose. 10. Nature of business will be influ enced by the business environment. consumers. Prohibited Content 3. The business objective is a goal, i.e. “The social responsibility of business is to increase its profits,”. Journal of Small Business and Enterprise Development, 14(2),339 - 352. (a) Production of goods and services (b) Presence of risk (c) Sale or exchange of goods and services (d) Salary or wages 2. data from a survey conducted in the labour congregating areas of Bhubaneswar during 2011-12. People around us are engaged in various activities. Friedman, M. (1970). Good organisation stimulates independent creative thin­king and initiative by providing well-defined areas of work with provision for development of new and improved ways of doing things. Partnership is not separated from the partners. Some others look upon it as a social system, consisting of human relationships existing among the people performing different activities. Thus, ‘Organising is concerned with a well-planned division of the numerous func­tions of an enterprise, assignment of duties and responsibilities to the individual execu­tive and subordinate employees supported by a strong system of supervision and co­ordinated control in order to ensure the effective execution of the plans as formulated by those in administrative authority. consumer it will not be known. Through the assignment of tasks to individuals superior-subordinate relationships between various positions are established in the enterprise. Survival Strategy for Employment Generation in Nigeria, by Department of Business Administration, Faculty of Management, College of Management Sciences, Al-Hikmah University, Brown, B. I. Some of them regard it as a network of relationships, a blueprint of how the managers will assign the various activities and connect them together. The following are the benefits that that accrued to sole proprietorship form of business: only need license and permits to start the business. Understanding the queuing theory for improved service delivery: an entrepreneurial mindset approach, Money Work, Fast Money and Prize Money: Aspects of the Tahitian Labor Commitment, CLIFTEX Theatre: Balancing Technology and Sustainability, Gender issues and livelihood pattern of migrant women labourers of farm families. Which of the following does not characteristic business activity? satisfaction. �kR�mZ�Gq�'��� into from two perspectives, namely: Industry and Commerce (Sutherland & Canwell 2004). E, EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an, eCommerce system can combine depending on a company’s sales approach towards their, customers. The main contribution was coming through apple production.The process of tree plantation and the people involved in horticulture economy have been discussed in.


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