Business Organization :-It is a process of establishing effective co operation between the factors of production for producing goods or services to earn profit.
In the present age production and distribution activities are increasing day by day with the rise in world population standard of living is also improving due to the business activities. Today the man is enjoying all the facilities of life due to the business efficiency. But without business organization we can not solve the business problems. Business organization consists of the skillful activities of the business man which are helpful for promoting the trade commerce and industry. business organization plays very effective role for the business development.
Importance Of Business Organization :-
We can discuss its importance as under :
1. Production of Goods :-
Business organization is very useful for the production process of goods and services. It increases the efficiency of various sections.
2. Reduces the Cost :-
Business organization principles are used to minimize the cost of production. So the profit of the business increases.
3. Distribution :-
Marketing and distribution problem is also being solved by the business organization.
4. Common Link :-
It provides a common link between various of the business activities. So effective cooperation among the various factors increases the profit of the enterprise.
5. Saves the Time :-
Due to business organization we can save our time which is more precious in the present age.
6. Minimum Wastage :-
Business organization reduces the wastage of material and other expenditure. So rate of profit increases.
7. Secretariat Function :-
Business organization teaches us the principles of office organization. It tells us the best way of performing the secretarial functions.
8. Finance Management :-
Business organization also guides the businessman that how he should meet his financial needs and expand the business.
9. Transportation Use :-
It guides the businessman that which type of transport he should utilize to increase the sale and profit of his product.
10. Makes the Businessman Efficient :-
Business organization has enabled the businessman to conduct the business affairs efficiently. It also provides the solution of many problems.
11. Fixes Responsibility :-
It fixes the responsibility of ever individual in a different manner. It also introduces the scheme or internal check with works automatically.
12. Solve the Market Problems :-
Business organization solves the problems of buying, selling storage and grading.
13. Technical Development :-
It also very helpful for improving the technology in the country. New methods and innovations are used in the production process.
14. Decision Making :-
Decision making is very important factor for the success of business. The business organization is very useful in making the decisions in time.
15. Provides Skill :-
Business organization provides the skilled people like salesman to satisfy the customers.
16. Supply according the Demand :-
It guides the producer that he should produce the goods according the demand of the market. Facts about market are collected and demand is produced accordingly.
3 comments:
great work thanks a lot,,
This is absurd explanation. Where is the impact of business in economic growth and its contribution to the GDPs.
How can business be related to reduction of cost in importance . It is the primary objective of every business organization.
Reduction of wastage again is the objective that ensures profitability and sustainability in current business scenario.
Please make the necessary changes as your article is being referred by lot of enthusiast.
Why is innovation important in business from time to time because if you don't innovate, you won't be able to survive in the market.
Being a business owner, if you want to exploit your product or service, whatever you are offering, you have to keep on innovating to provide good user experience to your target segment.
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