Forms Of Business Ownership

Meaning of Business Ownership:The business organization, created for the purpose of carrying on the business is given a legal from the point of view of ownership. This legal from of business organization is called form of business ownership.

Different Forms of business Organization:

1.Sole proprietorship was the earliest form of business organization.

2.There are emerged a form of business organization called joint Hindu family firm.

3.The creation of joint stock company form of organization.

4.Government to set up state or public enterprises.

Business organization in private sector:

1.Sole proprietorships.

2.Partnership Firms.

3.Joint Hindu Family in India.

4.Joint stock company.

5.Co-operation Society.

6.Multinational co-operation.

Business organization in public sector:

1.Department Undertakings.

2.Public Corporations.

3.Government Companies.

Characters Of Business Organization:

1.Ease of formation.

2.Ease of raising capital.

3.Extent of liability.

4.Degree of direct relationship between ownership and control desired.

5.Flexibility of operation.

6.Continuity of existence.

7.Type of business.

8.Impact of tax liability.

9.Transferability of interest.

10.Maintenance of secrecy.

Different Forms Of Business Organizations:

1.Sole Trading Concerns.

2.Partnership Firms.

3.Hindu Undivided Families.

4.Joint Stock Companies.

5.Co-operative Societies.

6.Multinational Co operations.

7.Government Undertaking.

8.Joint Sector Undertaking.

Meaning of Sole trading concern:

            In the words of L.H.Haney the industrial entrepreneurship is the form of business organization on the head of which stands an individual as the one who is responsible who directs its operation who alone runs the risk of failure.

Features of Sole Trading Concern:

1.The sole trading concern is the oldest and the simplest form of business organization.

2.No legal formation are required for the formation and the closing of a sole trading concern.

3.It is owned and managed by a single person.

4.It is owned by a single owner.

5.The sole trader puts his own labor in conducting his business.

6.The sole trader assumes all the risks involved in the business.

7.A sole trading concern has no separate legal existence from that of its owner.

8.The liability of the sole trader is unlimited.

Evolution Of Business

Evolution of commerce:

1.Diversity of human wants.

2.Scarcity of natural resources.

3.Diversity of natural resources.

4.Division of labor.

Various Stages Of Evolution Of Commerce:

1.Hunting and Fishing.

2.Pastoral Stage.

3.Agricultural Stage.

4.Handicraft Stage.

(a)Absence of double coincidence of wants.

(b)Lack of common measure of value.

(c)Difficulty of sub-division.

(d)Difficulty of staring wealth.

5.Money Economy Stage.

6.Domestic Stage..

7.Town Economy Stage.

8.National Economy Stage.

9.Period of Geographical Discoveries.

10.Industrial Revolution and Transport Development.

                                            Evolution of Industry

The various stages in the evolution of modern industry can be studied under three heads, they are:

Industry in the Pre-Industry Revolution era:

1.Hunting and Fishing Stage.

2.Pastoral Stage.

3.Agricultural Stage.

4.Handicraft Stage.

5.Guild Stage.

6.Domestic System.

II Industry During The Period Of Industrial Revolution:

1.Developments of engineering.

2.Revolution in iron-making.

3.Use of Steam Power.

4.Rise of chemical industries.

5.Development of coal mining.

6.Revolution in transport.

                                      Objectives Of Business

Economic  Objectives:

1.Earning of Adequate profile.

2.Creation of Customers.

3.Optimum Resources.

4.Innovation.

Social Objectives:

1.Supply of goods which the society wants.

2.Avoidance of profiteering and anti-social practices.

3.Production according to national priorities.

4.Providing employment.

Commerce And Trade

                                           Commerce

Meaning Of Commerce:

            In the words of James Stephenson, "Commerce is the sum total of all those processes which are engaged in the removal of the hindrances of persons, place and time in the exchange of commodities.

 

Scope of Commerce:

1.Commerce is not a single activity it includes many activities, such as trade or aids to trade.

2.Goods are produce for the purpose of consumption, they have to be made available from the places of production to the places of consumption.

3.There are certain hindrances or obstacles in the distribution of goods from the producers to the consumers these hindrances are mainly of six types,

* Hindrance of person.

*Hindrance of place.

*Hindrance of risk.

*Hindrance of time.

*Hindrance of finance.

*Hindrance of information.

4.The hindrance of person is removed by exchange.

5.The hindrance of place is overcome by transport.

6.Such as roadways, railways, waterways and airways.

                                     

                                                 Trade

Meaning of trade:

            Trade or exchange refers to buying and selling goods.

Trade can classified in to two types, they are:

1.Internal Trade.

2.Foreign Trade.

                                        Internal Trade

            Internal trade refers to trade within the boundaries of a country the buyers and sellers belong to the same country. Internal trade can be divided into two types, they are:

1.Wholesale trade: Wholesale trade is the sale of one or few classes of goods in large quantities by the producers or the wholesalers to retainers.

2.Retail trade: Retail trade is the sale of variety of goods in comparatively smaller quantities by the retail traders to the ultimate consumers.

                                      Foreign Trade

             Foreign trade refers to trade between one country and another, the buyers and sellers belong to different countries. Foreign trade can be divided into three types, they are:

1.Import Trade:Import trade refers to the purchase of goods from other countries for domestic use.

2.Export Trade: Export trade refers to the sale of home goods to other countries.

3.Enterpot Trade: Enterpot trade refers to import of goods from one country for the purpose o0f export to some other country.

Characteristic of Business

                                   All of we know about the business, In the business what ever we are doing knowingly or unknowingly that is ok.  But we should have idea related to the Characteristic of Business. I have found out a few characteristics of business which are listed as below.

                                    

   Characteristics of Business

                                    

     * Economic activity.
     *Sale Exchange For Value.
     *Dealing In Goods.
     *Recurrence of dealings.
     *Profit motive.
     *Element Of Risk.
     *Capital Investment.
     *Entrepreneurship.

I hope all of you should have liked the characteristics of business. If you are having more information about it, kindly share with me or if you have liked what i have posted kindly leave your comment which can guide me in future to provide the better matter.

                                         

                                      

Meaning And Nature Of Business

                       "Nature of business is a exciting game, play it right"

     

       Business is one of the economic activities, so before we take up the discussion of business, let us have some idea about "economic activities".

                                        Meaning And Nature Of Business 

              In the words of Ur wick and hunt. Business is any enterprise which makes, distributes or provides any article or services which other members of the community need and are willing to pay for.                
                   
                            

                                                ECONOMIC ACTIVITIES

           Economic activities refer to those human activities which are undertaken with the object of satisfying material or economic needs. Buying and selling of goods bu traders and specialized personal services rendered by professional like doctors, lawyers, chartered accountants, management consultants and personal services os employees in private and government undertakings.

                                                        Types of Economic Activities:

                                                                          *Business
                                                                          *Profession
                                                                          *Employment

                                                                BUSINESS
                                                                
             Business refers to economic activities concerned with the production and sale of goods and services for the purpose of earning profit,Such as trading, transportation and banking.

                                                               PROFESSION

             Profession is an economic activities concerned with the rendering of technical, specialized and export personal services to clients in return for a reward or payment called fees.Such as services of doctors, lawyers.

                                                               EMPLOYMENT

              Employment is an economic activities or occupation in which a person known as an employee under a contract of employment or contract of services performs regularly such work as may be assigned to hime by the employer in returend for a payment called salaries or wages.      

Early Computing Machine

             The Abacus, which emerged about 5000 years ago in asia mirror and us still in use today, and may be considered as the frist computer. This device allows users to make computations using a system of sliding beads arrangsd on a rack.

              First mechanical adding machine was invented by Blaise pascal in 1642 Pascal's device used a base of ten to perform calculation. The drawback to the Pascaline, of course, was its limitation to addition

                In 1694 a german mathematician and philosopher, Gottfried Wilhem von Leibniz, improved
the Pascaline by creating a machine that could also multiply. Like its predecessor, Leibniz's mechanical multiplier work by a system of gears and dials.

               The real beginnings of computers as we know them today, however, lay with an English mathematics professor, Charles Babbage. Charles Babbage is known as father of computers. Babbage developed machine to perfome different equations called Different Engine. It was powered by steam and large as a locomotive, could perform calculations and print the results automatically.

             After working on the Different Engine for10 years, Babbage was suddenly inspired to begine work on the frist general purpose computer, which he called the Analytical Engine.

             In 1889, an American inventor, Herman Hollerith, also applied the Jacquard loom concept tp computing. Holleriths method used cards to store data or infornation, which he fed into a machine that coropiled the results mechanically.