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What is Business History?

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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Objective of Business Environment

Following are main objectives of business environment:
1. Knowledge of Information 
By studying the business environment, we can know the changes of business. This information is very useful for our business. Every businessman should aware current environment of business. With this, he can think the future of his business in such environment. 
2. Basis of Decisions 
One of main objective of the study of business environment that it can provide all the information which is needed for taking good decisions. Suppose, you completed your internal business environment study. With this study, you can take decision relating to purchase, sale, salary and price because you know your competitor, you know your suppliers and you know your customers. 
3. Helpful in making of Policies 
For making good business policies, we need to know and scan business through business environment. 
4. Technological Planning 
Today, technology is changing very fastly. 3 years ago, I have to search software for downloading …

Limitation of Business Environment Analysis

Following are main limitation of business environment analysis:

1. Unexpected and Unanticipated Events 

We can not tell unexpected and unanticipated events in business environment analysis. Sometime, business has to face unexpected happenings. So, there will no benefit of business environment in these cases.

2. No sufficient Guarantee

Business environment analyst does not give any guarantee whether all events will happen as per estimation in business environment.

3. Uncritical Faith 

Sometime data may be incorrect. So, decisions on basis of these analysis may be risky for business.

4. To much information

Sometime too much information relating to business environment analysis will create the doubt in businessmen.

Technological Environment

Definition of Technological Environment :-

“Technological Environment means the development in the field of technology which affects business by new inventions of productions and other improvements in techniques to perform the business
 work. "