Business is an organised approach to provides what the customers want (Goods and
Services).
Word business refers to an organisation that provides these goods and services.
Most business seek to make a profit, they aim to achieve revenues
some business only seek to earn enough to cover their operating costs.
*that business called nonprofits, and they are primarily nongovernmental service
providers.
**Nonprofit businesses such as social service agencies, foundations, advocacy
groups and many hospitals.
Business operations
1. Production
just - in - time inventory (produced only as required)
technology
machines
respond to consumer demand
2. marketing
processing the goods and services demanded
right price, place , and time
3. finance
management of money
enough capital on hand
paying bills
4. human resource management
hire and keep good employees
determine the number and type of employees
trains or arranges for the training of its staff