In this section, you will understand what business is, what its objectives and types are, and what its full form is.
What Is Business
Business refers to the buying and selling of goods and services to earn money. It is a way through which people make their living.
A Business refers to both an activity or an enterprise that is involved in the trade of goods and services with an ultimate aim of making profits.
Objectives Of Business
The main objective of any business are as:
- Economic Objectives: Business has an economic objective which means it is used for making profits, better living etc.
- Human Objectives: It means that a business aims at developing good human resource and meeting their needs.
- Organic Objectives: The organic objective of a business is how it can grow and capture a good market share. It involves marketing, innovation and quality control.
- Social Objective: through this objective, a business wants to achieve betterment of society. It involves quality control, fair practices, corporate social responsibility, etc.
Types Of Business
There are various kinds of business, and they are:
- Manufacturing Business: This type of business is involved with the manufacturing of goods. The goods are then sold to the end customer to earn profits.
- Merchandising Business: In this type you don’t manufacture goods, but you buy them from one party and then sell them to the other, to earn profits.
- Services Business: This type of business is involved with the sale of intangible goods (services). An example of this type of business is the consultancy services agency.
- Hybrid Business: A business that comprises of two or more of the above businesses, is called a hybrid business.
Business Full Form (बिजनेस का फुल फॉर्म क्या है)
The word “Business“, in itself is a complete word and not an acronym. It has existed as such in English language for over 1000 years.
However, some people consider “BUSINESS” as an acronym and its full form varies from one section to another section of people.
Full Form Of Business
Some people consider the business expanded form as below:
We are sure that this article would have cleared your mis-understanding about the expanded form of business.
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No, the word Business is not an acronym at all. It is a full fledged word that has been used in English language for more than 1000 years now.
Even though the word Business is not an acronym, but some people wrongly consider it as an acronym. According to them the full form of Business is B-Best, U-Upcoming, S-Startup, I-Invented, N-Not, E-effected by, S-Society, S-Success.
The short form of Business is Bus or Biz.