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Meaning of Business

Business means all activities which generates wealth. In these activities, goods are produced or purchased and then are sold on profits. Following are main features of business. 

1. Objective of business is to earn profit.
2. There are lots of risks in it.

Following are main business objectives:

1. Economic objectives

a) To earn profit

b) To Grow the business

c) Innovation of new products

2. Social objectives

a) Service to society

b) Employee satisfaction and development

c) Quality products and services

d) Fair return to investors

e) Good corporate citizenship


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