Business is very important in our everyday life and also in every walk of life. Modern business involves almost total population of the globe, directly or indirectly. Business is a field of interest to the conscious. Peoples study business for much reason. Some persons are preparing to pursue earners in one of the major fields of business. Other want to become better-informed consumers by understanding their rights, and to pre and post purchase-problem. The followings are some of the reasons or objectives for that men study business: Career choice, Business ownership-choice, Procurement-choice, and Appraisal necessity. In elaboration, objectives of studying business are as follows.
Objectives of Studying Business
Career choices: Business is studied primary to choose career as businessmen or business manager. Business is a better filled of employment and career choice. Knowledgeable person can start a “Bachelor of Business Administration” or “Master of Business Administration” and “Doctor of Business Administration” degrees, are employer manager with handsome payment in corporate types.
Business ownership-choice: To businessman, entrepreneur or successful owner of business it need to be studied or learned. Traditionally business was learned as a novice. Being employed or involved in business with another successful businessman. Many individuals want to own a business. Knowledge about business and its operation can assist to get success in business. Knowledge of accounting, management, finance. Marketing distribution and geography is a necessity in small as well as large business. In a small business, the owner needs to know all knowledge. He acquires and applies these informally. Through he uses these knowledge, but can’t recognize. In the corporate type of business, these are formally recognized, studied and applied. There knowledge are must for the success of large business firms.
Procurement-choice: To establish rights as consumer, knowledge of business process, inputs and methods is necessary. All of us are consumers in the business World. Consumers have the right to be well-informed. Even a producer is a consumer in other aspects. Knowledge and information about business operation and products can make us informed and aware consumers.
Appraisal necessity: To understand the impact of business on human life. study of and research on business are necessary. Business today, is a major force in our life Business affects our daily activities. Business provides most of us employment and jobs and thus money or income and supplies goods and services on which we spend money . Business shapes and reshapes our lives. These are the reasons for which researchers, academicians, social planner. Economists and other people have general curiosity about business.
Business in the Ensuing Future
Business in the late 20th century has got worldwide characteristics. Some innovation and events made business operation globalization. The invention of television as a communication medium in the in the 1970,s the Arab-Israel wars and the resultant use of oil-weapons or the crisis due to efforts and operation of Organization of oil Exporting Countries in the 1970’s and the resultant cost and energy consciousness contributed to the strategic business operation in the transnational setting. Beside the development of ‘Information and Communication Technology’ or the emergence of computer and Information Technology as a data processing and communication mechanism Internet. Worldwide Wed or information superhighway. On-line communication and other telecommunication media made the whole world ‘as world village’. A global village for business operation and contributed to the development of
Worldwide Wed or information superhighway. On-line communication and other telecommunication media made the whole world ‘as world village’. A global village for business operation and contributed to the development of electronic business and electronic commerce. Yet businesses are facing and will face problems situations like:
- Growing scarcity of resources.
- Globalization of business operation.
- Continuous challenges of newer technologies and resultant risk of technological obsolescence.
- The competition of improved productivity
- Increased importance of study business’s social responsibility visa-a profitability and the like.