Business Basics

There are many definitions of a business but simply we say,  “Business is a long term activity in which products or services are continuously provided to customers”.

Objectives of a business:

·         To provide right service or a product to right customer.

·         To satisfy customer by providing quality product.

·         Self-satisfaction and to earn the profit.

·         To give jobs to unemployed and needy based upon his/her skill.

·         To contribute in nations economic growth.

A very first objective is to satisfy customers by serving quality product and then earning profit. Definitely there is a profit if we provide quality.

Introduction:

Business is having number of activities and various stages to start and run. It requires sufficient time, so we can say business is a long term activity. In whole process there is an engagement of an individual & team to run the activities. Always we should be busy in activities therefor I will say business is “Busyness”.  

A very important & first step of business is to generate an idea. Idea can be generated from market survey, visiting various industries, problem facing in daily routine. By thinking on problem the solution can click and this solution will give idea for business.  

Who can start business?

A very simple answer for this question is anybody who is having interest and passion can start business. If anybody knowing the customers requirement he can start business after studying all the business processes. About qualification if we say, there is no such a need of specialization and qualification. He/she should have some qualities like good communication, some process knowledge, accounting, leadership, teamwork, understanding, professional level reading and writing.  These qualities will bring maturity to work in a particular field. 

Following picture gives motivation to do business:

B – Be with goal

Define your goal before planning of business & always remember goal at every stage of business.

U – Unique Identity

Make your unique ideas for doing business which will lead to unique identity.

S – Sincerity

Sincerity will give us focused and punctual work. It will result into completion of various tasks within time.

I - Interdisciplinary

Any individual who is taking an effort to set a business he/she should not hesitate to learn new things. Interdisciplinary knowledge is required to mould in any situation.

N – Never give up

As anyone is going to start a business he/she should not scare about failure. If there is failure, believe in yourself and stand in front of problem to face. Definitely success will find you.

E – Efficient & Easy

Business includes number of activities & processes; its completion should be output oriented and easy.   

S – Standardization

All inputs for business should be standard so that we can assure our service or product with some standards. Standardization is very important to get more customers.

S – Satisfy Customer

Our ultimate aim is to satisfy customer, customers satisfaction is a success of any business.