Business Topic – Nature of business
Focus- Business
Topic – Nature of business
Writer- Joy Iyere
The term business was defined by sir Frederick hopper (1961:150). He gave a comprehensive definition of the term business. In his view business refer to the whole complex field of commerce and industry. The basic industries processing and manufacturing industries and the network of anicillary services, distribution, banking, insurance, transportation and so, which serve the world of business as the whole. The study of business, ipso facto, enocom passes in totality the study of the firm, its management, operation, its environment and the general climaite within which business is carried out. Business activities are carried out to provide some degree of utility or satisfaction to consumers with profit seeking as one of the motives
It is therefore an aberration and academic fraud to include such institution as charitable organization, social group, labor unions and government as business organization.
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