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Bangalore University Study Mate

Business Organization and Environment-Meaning of Business

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Concept 1.
Meaning of Business:
Business may be understood as the organized efforts of enterprises to supply goods and services to
consumers for a profit.
Concept 2:

Purpose of Business:
The purpose of business goes beyond earning profits.It gives importance to development of society by
creating job opportunities,providing better quality of life and contributing to economic growth of the


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