What is Business History?

>> January 1, 2014

Business history means the history of business. In this history, we see when business was started by human being. In human development, business has its own role. When human being has learned some skills. He started to sell it on the basis of barter system. In barter system, business was very simple. If anybody will give any product or service to other, he will get the product and service in this consideration. For example, a businessman sold the wheat for getting the vegetables. In this history of business, business was only limited upto local area.

After developing of transport, business was also developed. One businessman of other village started to go to other village for selling his product or service. When a currency was developed, business became so simple. At that time, business was at large scale because at any time, businessman can sell anything for getting the reward of currency. In the beginning time, there was the gold currency. Pure gold coins were used for buying and selling of goods.

Mathematics, economics and accounting had also played a great role for development of business. Measurement became scientific through inventions of mathematical units. Now, any quantity can be measured. So, to fix the price became easy.

Accounting helped to record the business transaction. It had increased the life of business because accounting record helped to find the mistake. To control the financial position became easy. Business can tolerate all type of risk because it had the powerful accounting records. So, businessman had used it for taking better business decisions at minimum risk.

Economics also assisted the business through his wonderful economics laws. Businessmen became more clever by learning the effect of demand and supply. Now, he had fixed better price by equilibrium his demand and supply quantity.

Now, business has reached at international level due to inventions in IT sector. Mobile, internet has developed a new age of business. Now, people are doing business through eCommerce.

Marketing management has also played a great role in the history of business. For carrying business at large scale, marketing management skill has to learn. 

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