A business is any activities a person engaged to ,which requires the input of time, effort,and resources with expectation of reward to the person who supplied effort ,time and resources to such an activity . The basic element which qualify an activity to be known as a business are effort, time ,resources and reward expected. When we say effort we mean physical ,mental and intellectual spent on performing activities toward generating ideas and transforming them into physical or tangible goods or services .Time imply the moment spend in thinking ,researching and brain storming the idea before putting it into action. Resources means equipments ,money land or skills which are put in actions to produce goods or services which are required by the market (people) to solve their problems.Reward implies the price paid by the market for goods and services which are the results of the application of effort ,time and resources applied by a person .The reward is enjoyed by the person who performed the activities ( business). The central or focal point to any business is a natural person or organization of persons . A person may mean a natural person ,a partnership or a Corporations. One of the fundamental point in a business is the person who us the or will be the source of an idea or action which may produce economic impact or solve peoples problems.
Is any activity a business? Is any activity consuming time effort and resources a business? Certainly no! In order to be a business it must produces reward and and having positive impact to the community in meeting demand and solving peoples problems or challenges, not all activities which consume time,effort and resources are termed as business, a business must be enjoyed positively by the owner and the peoples in paying the price or exchange of values!
The Cambridge Advanced learner's Dictionary define business in the following terms" Is the situation or activity often one that your giving your opinions about. It goes in defining as "The amount of work done or the number of goods or services sold by a company or organization .Furthermore it imply that: The work that you do to earn money From the definition we can say that business has the activity of giving opinions(ideas), the amount of work which requires effort ,time and energy,. Also it involves selling and earning money (rewards or profit)!
The big challenge among many is how do we get a business idea? How do we transform the idea into business ? How do finance an idea ? These are question where an entrepreneur is required to have a clear understanding of them!
In simple words every person is a business entity! You can wonder how you can be a business entity! Every person is the business entity because every person carries a business idea within himself. It is business entity because no entity without a founder and the founder is most likely to be a natural persons or group of persons which may be called partners or an organization. It is not the matter of financing the business which is important it is the idea which you carry within that is most important, so wake up the idea within you then transform the idea into business which produces goods or services . Never ever copy someone idea! Never finance copied idea you will lost in the bush ,find the idea within I believe you possess one! Think yourself as the person who have the prenacy of ideas which require birth then attend clinics to have clinical advice prior to birth,this help to check the health development of your child (ideas). Then where do you find your business idea .Let proceeds next section tommoro
Is any activity a business? Is any activity consuming time effort and resources a business? Certainly no! In order to be a business it must produces reward and and having positive impact to the community in meeting demand and solving peoples problems or challenges, not all activities which consume time,effort and resources are termed as business, a business must be enjoyed positively by the owner and the peoples in paying the price or exchange of values!
The Cambridge Advanced learner's Dictionary define business in the following terms" Is the situation or activity often one that your giving your opinions about. It goes in defining as "The amount of work done or the number of goods or services sold by a company or organization .Furthermore it imply that: The work that you do to earn money From the definition we can say that business has the activity of giving opinions(ideas), the amount of work which requires effort ,time and energy,. Also it involves selling and earning money (rewards or profit)!
The big challenge among many is how do we get a business idea? How do we transform the idea into business ? How do finance an idea ? These are question where an entrepreneur is required to have a clear understanding of them!
In simple words every person is a business entity! You can wonder how you can be a business entity! Every person is the business entity because every person carries a business idea within himself. It is business entity because no entity without a founder and the founder is most likely to be a natural persons or group of persons which may be called partners or an organization. It is not the matter of financing the business which is important it is the idea which you carry within that is most important, so wake up the idea within you then transform the idea into business which produces goods or services . Never ever copy someone idea! Never finance copied idea you will lost in the bush ,find the idea within I believe you possess one! Think yourself as the person who have the prenacy of ideas which require birth then attend clinics to have clinical advice prior to birth,this help to check the health development of your child (ideas). Then where do you find your business idea .Let proceeds next section tommoro
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