Business Studies: Types of business, what is e-business.

Business studies is about how individuals and groups of individuals organise, plan, and act to make and develop goods and services to satisfy customers. Business is influenced by and impacts on the cultural, ethical, environmental, political, and economic conditions of the day.

Business Studies will assist you to create more informed decisions within the everyday business of living. It gives you a better understanding of the world of work. Business studies also encourages you to believe how and why people start up in business and why you too may additionally consider starting a business.

As well as developing the essential transferable or ‘soft’ skills that employers demand, the following strengths are also cultivated through business studies:

• critical thinking and analytical skills, alongside familiarity with evaluative techniques;

• numeracy and therefore the ability to research, interpret and use business and financial data and information;

• self-reliance, initiative and therefore the ability to manage time, projects and resources;

• appreciation of the causes and effects of economic and other external changes,

• a creative problem-solving approach and sound, logical decision-making skills;

• effective and persuasive written and oral communication skills;

• understanding organisational behaviour and structure.

These attributes are much wanted by employers, since they build commercial awareness and permit new employees to begin contributing to the organisation quickly.

The course structure and style of assignments also boost employability, with presentations, group work, independent projects and business simulation activities giving ample opportunity for development.

Forms of business organizations:
Say you wanted to start a new business, how will you decide on whether which kind of organisation it'll be? Will you begin a company or become a partners? This choice will depend on your requirements and suitability of the business. Let us take a glance at the varied types of business organizations.

• Sole Proprietorship:
  In the history and development of commerce, there are diverse forms of business organization. In Sole Proprietorship, a single person invests money in the business and so gets all the profits. 

• Joint Hindu Family Business

There are multiple forms of business organization worldwide but there is a unique form of business that has been originated in India. It only exists in India. It is known as ‘Hindu Undivided Family Business’ (HUF), ‘Joint Hindu Family Firm’ (JHFF).

• Cooperative Society

India is an agricultural country and has laid the foundation of the world’s biggest co-operative movement. The co-operative movement was started by the weaker sections of society for protecting its members and their rights. The country has a network of co-operatives at the local, regional, state and national levels.

• Partnership Firm

Partnership Firm is an important component of the Private Sector Organization. 'Partnership' form of the organization evolved because of limitations on capital raising capacity and managerial inability proprietary concern. The partnership helps in expanding the business based on capital and management.

• Joint Stock Company

Unlike other forms, this works on a different basis as there are only a few owners in other forms but here there is no limitation as every shareholder of the company no matter how much shares he/she owns is the owner of the company. This is the real meaning of the Joint Stock Exchange.

What is E-Business?

You ordered your favorite book on Amazon, and it was delivered the very next day. Sounds routine right? But this was unimaginable a decade ago. Since the turn of the century, we have seen a great deal of reshaping in the world of Business. And it can all be traced back to the internet. Let’s find out more about Emerging Modes of Business.

E-business or Online business means business transactions that take place online with the help of the internet. The term e-business came into existence in the year 1996. E-business is an abbreviation for electronic business. So the buyer and the seller don’t meet personally.

• Joint Hindu Family Business

• Co-operative society

• Sole proprietorship

• Partnership firm

• Joint Stock Company