What Is Business?


Business is the activity of making a living or making money by producing or buying and selling goods or services. It is also the practice of dealing in goods or services for profit, which is an important subject of economics. It is a comprehensive term for any gainful activity that a man does to earn an income and acquire wealth.

The first and the most significant feature of a business is that it deals in goods and services. These goods may be consumer goods for consumption or industrial or capital goods for production of other goods. The services offered by a business include finance, insurance, advertising and warehouse etc. The production of these goods and services contributes to the national output and helps in the development of the economy.

A business is an institution, a group or an organization which operates a commercial enterprise to make profits. The primary function of a business is to create and possess wealth through the production and exchange of goods and services. A business is also an important source of employment and provides livelihood for millions of people worldwide.

Another important function of a business is to create and maintain exchanges and relationships with the external environment. It aims to meet the needs of its customers and provide them with quality products and services at reasonable prices. A business is also responsible for the protection and preservation of its employees and the environment.

Various strategies are adopted by business to achieve its objectives. A business repositioning is a strategy used by companies to shift their focus to new markets and customer segments. This is usually done as a result of changing market trends or customer needs.

In the present time, the business concept has replaced the idea of profit-no-service as the basic or real objective. Modern business tries to make customers happy and satisfied through service and by earning the profit in return. This concept is also known as profit-through-service.

A business article should always be proofread and edited to ensure that the writing is accurate and readable. This will help to boost the appeal of the article and enhance its usefulness to the readers. Moreover, the use of graphics and charts is recommended as it will effectively strengthen the article’s message. A business article should also contain information that is valid, reliable and recent. Adding a quote by an expert in the field can add value to the article. In addition, citing the references of the article is very important. This will also help in establishing the credibility of the content and make it more credible to the readers. This is because it will make them believe that the article has been properly researched and presented. It will also help to avoid misquotes or plagiarism. This will also be beneficial to the business article writer in terms of a higher rank on search engines. This will also increase the chances of the article getting read by potential clients and investors.