Mindblown: a blog about philosophy.
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Survival
Every business is started with the aim of earning profit, but a time comes when it is difficult task for the business to even the run the business, and that is the time when the business decides that it has to survive. Survival is a time when the business
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Growth is a business objective
It is one of the main objectives of a business to grow. When a business starts achieving sufficient profit it aims to grow because it wants to increase the market share and discover new business opportunities.
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Value added is a business objective
Value added is the difference between the selling price and the cost of the raw materials which make the product. Value added is the extra value which is added in to the raw materials and eventually the price of the product increases and so does its value.
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Profit is a business objective
Every person who starts a business starts it with the main objective if earning profit. Earning profit is very important because the business has to repay the investors and it also want to get some reward for the effort he or she has made. It is not essential that a business will always earn profit…
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What are the different objectives of businesses?
Make profit Expand the business Survive Serve the people
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Why do people engage in business activity?
Most people in this world engage in business activity because they want to earn money. The money which they earn might be used for their own use or it could be used to invest money again.
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What is the purpose of business activity?
Business activity is needed because people need different products and the products can only be made with business activity. Business activity also gives people a chance to earn money by engaging themselves in the production process. The aim of any business activity is to combine all four factors of production and produce the product which…
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Disadvantages of division of labor
There is a chance that productivity might decrease because when a person keeps on doing the same thing the person gets bored and ultimately the production decreases.
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Advantages of division of labor
Advantages of division of labor are that a person performs the task in which he is best at doing and the productivity can increase.
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What is division of labor?
Division of labor is when the production process is divided into smaller tasks and each person performs the task which he or she can do in the best way.
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