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what is businessWhat is Business?

Business: The legal exchange of goods and services to earn mutual benefit is called business.

Why do we study business?

We study business for below reason:
  • Increasing dependence in others: Over the years, people have become more and more dependent in others. No matter how independent we are, almost everyone depends on other for example I watch TV programs that are provided by Dream World, I wear clothes designed by Disney, I live in a house that is built by cement and iron workers.
  • International business opportunities: Business studies increase the opportunities of doing business internationally. The new era of business in an international market place will require business leaders who knows how to start a business and successfully operate it and business studies teach us that how to run a business and do the operation.
  • Standard of living: Another reason to study business is to protect our life. Standard of living describes the amount of goods and services that an average family can have. Business studies teach us how to increase the standard of living.
  • Coping with changes: Business is dynamic – always changes. Coping with both predictable and unpredictable events can be easier, more efficient if we understand business. For example let’s take Malaysia they was a non-developed country but in recent years they became a developed country. This is a fact of coping with changes and of course this is because of studying business.
  • Preventing misconception: Understanding business also prevent us from accepting misconception, inaccurate data as truths. For example now-a-days businessman doesn't guess about their target market they first analyses market condition and works in proportion to their demand.



Why do we study business?
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