1. Meaning of Business
  2. Meaning of Management
  3. Functions of Management
  4. Business Resources
  5. Objectives of Business
  6. The Business Environment
  7. The Social Responsibility of a Business
  8. Business Organization


Meaning of Business

Business can be defined as any activity that people engage directly or indirectly in order to make profit.  It can also be defined as the sum total of all economic activities which people engage in order to create, procure or provide desired goods and services to the consumer in proper quantities at suitable times and at satisfactory prices in order to make profits.


  1. Define the ‘term business’.


Meaning of Management

Management is the process of setting organizational goals, deciding what actions and resources must contribute to meeting goals and then co-coordinating, guiding and encouraging the co-operative work of other people to meet the goals.

We can also define management as the process of using authority to organize, direct, and control subordinates in order to achieve the objectives of the business.

Lesson tags: Commerce Lesson Notes, Commerce Objective Questions, SS3 Commerce, SS3 Commerce Evaluation Questions, SS3 Commerce Evaluation Questions First Term, SS3 Commerce First Term, SS3 Commerce Objective Questions, SS3 Commerce Objective Questions First Term
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