Sir Rafeeq I2b Lecture 2

NATURE & SCOPE OF BUSINESS LECTURE # 2

www.superior.edu.pk

OUT LINE www.superior.edu.pk

SCOPE / COMPONENTS OF BUSINESS ☻ FUNCTIONS OF BUSINESS ☻ DISTINCTION B/W TRADE, COMMERCE AND INDUSTRY ☻ WHAT IS SMALL BUSINESS ☻ ADVANTAGES AND DISADVANTAGES. ☻

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Muhammad Rafiq

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SCOPE / COMPONENTS OF BUSINESS www.superior.edu.pk

Commercial occupation deal with buying and selling of goods ,the exchange of commodities and the distribution of the finished goods

refers to that part of business activity which is concerned with the extraction, production or fabrication of products Continued……….. 12/12/08

Muhammad Rafiq

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SCOPE / COMPONENTS OF BUSINESS Continued………..

www.superior.edu.pk

BUSINESS INDUSTRY EXTRACTIVE GENETIC

COMMERCE TRADE

AIDS TO TRADE TRANSPORT

INTERNAL TRADE

CONSTRUCTIVE

Whole Sale

INSURANCE

MANUFACTURING

Retail

WAREHOUSING

SERVICES

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BANKING

EXTERNAL TRADE

Muhammad Rafiq

Import

ADVERTISEMENT

Export

MERCANTILE

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Differences www.superior.edu.pk

☻ Difference

between industry and

commerce ☻ Difference between commerce and trade

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Muhammad Rafiq

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SCOPE OF THE BUSINESS ORGANIZATION

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☻ In

Sole Proprietorship

☻ In

Partnership

☻ In

Company

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Muhammad Rafiq

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What is a small Business www.superior.edu.pk

☻A

firm that is independently owned and operated, not dominated in its field and meets industry specific size standards for income or number of employees.

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Muhammad Rafiq

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Contribution of Small Business to Economy www.superior.edu.pk

☻ Creating

new jobs ☻ Creating new industries ☻ Attracting new industries

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Muhammad Rafiq

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Advantages of Small Business www.superior.edu.pk

☻ Innovation ☻ Low

cost ☻ Superior customer service

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Muhammad Rafiq

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Disadvantages of a Small Business www.superior.edu.pk

☻ Management

short coming ☻ Inadequate Financing ☻ Government regulation

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Muhammad Rafiq

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www.superior.edu.pk

12/12/08

Muhammad Rafiq

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