hyzendust.github.io/content/uninotes/bo-dcm1109-unit1.md

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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)