The Study of Business and It’s Importance
The financial development of a country is honestly related to the growth of business. Business covers all economic activities which are undertaken to earn of living. A country’s economic and social development will be likely through industry, trade and connected activities.
The study of business is valuable to know the position of economic development. The study of present rank will enable to know the good and weak points of the economy. A nation may have sufficient natural resources but still it may have minimum level of money-making development. This will be due to bad planning of the economy. The drawbacks can be improved only when these are accurately understood. So, it is important to study business to know its stand.
The economic circumstance goes on changing from time to time. It will be compulsory to keep a pace with the world so that proper amends are made from time to time. To remain in touch with the changing world one must have a proper study of the business.
There are rapid technological changes in the world of industry. All such changes cannot be incorporated in each type of economy. The improved methods of work should be used as far as possible to keep pace with the changes. A study of the technological changes and their implications should be methodically studied so that they are used for the benefit of the country.
The improved mode of moving and exchange of ideas has brought the world closer to each other. 澳洲中學 The products manufactured in one part can be sent all over the world without loss of time. It will be compulsory to see the pros and cons of trading with other countries and its implications on the country’s economy. A rational decision can only be taken if we have proper study of trade and industry of the country.
An official study of business will help in understanding the implications of various laws, rules and regulations concerned with the business. A person should know the areas where he can set up an entity without taking a license and where it will be required. He must know the formalities required in establishing an enterprise. The awareness of various laws which affects the operation of the business will greatly benefit in regular working.