# Unit 1 | Freedoms4
April 6, 2026 # Features and Nature of Business # A) Economic Activity. B) Continuous Activity. C) Profit Motive. D) Exchange of goods and services. E) Customer Orientation. F) Risk and Uncertainty. G) Legal and Ethical Compliance. H) Global. Concept # A) Value Creation. B) Profit. C) Social. D) Organised. E) Dynanic. Scope # A) Industry # Primary Industry: Extraction of raw material (agriculture, mining). Secondary Industry: Manufacturing. Tertiary Industry: Service (banking, insurance, transport, delivery) Quaternary Sector: Knowledge based services (IT, education/training) Quinary Sector: [cut: 901 characters, first 598 kept]

S1 BO DCM1109 Self

# Unit 1

Table of Contents

### April 6, 2026 #

## Features and Nature of Business #

A) Economic Activity.
B) Continuous Activity.
C) Profit Motive.
D) Exchange of goods and services.
E) Customer Orientation.
F) Risk and Uncertainty.
G) Legal and Ethical Compliance.
H) Global.

## Concept #

A) Value Creation.
B) Profit.
C) Social.
D) Organised.
E) Dynanic.

## Scope #

### A) Industry #

1. Primary Industry: Extraction of raw material (agriculture, mining).
2. Secondary Industry: Manufacturing.
3. Tertiary Industry: Service (banking, insurance, transport, delivery)
4. Quaternary Sector: Knowledge based services (IT, education/training)
5. Quinary Sector: Services of leading roles (Government services, NGOs)

### B) Commerce #

1. Trade.
2. Auxiliaries to Trade.

### C) Modern Dimensions of Business #

1. E-Business.
2. Green Business.
3. Social Business.
4. Global Business.

## Business as a System #

A) Interdependance.
B) Input-Process-Output Model.
C) Open System.
D) Dynamic Nature.

### B) Input-Process-Output Model #

1. Input.
2. Process.
3. Output.
4. Feedback.

## Business and Environment Interface #

A) Social Environment.
B) Economic Environment.
C) Politico-legal Environment.
D) Technological Environment.
E) International Environment.

## Objectives of Business #

A) Economic.
B) Social.
C) Human.
D) National.
E) International.

## Profit Maximization VS. Social Responsibility #

(Research pending)