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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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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. 
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Factors of Environmental Scanning

Following are the main factors of environment scanning.

1. Events

Past events of business environment is the main factor of environment scanning. For example, if Govt. has to control food prices, it has to scan every week prices of vegetables, fruits, milk and other food items. For more simplification of price rise, Govt. will calculate wholesale price index.