“Business Entrepreneurship” SSC 2021 (English Version) 1st Week Assignment Answer
Concept of Business – Types of Business – Concept of Business Environment – Elements of Business Environment – Affects of Business Environment in Bangladesh
(a) Concept of Business
Generally, all economic activities conducted for profit are called business. And where is profit, there is a risk. The last few days back, I went to play on the field and asked some of my friends what their father does. Friends said their fathers were involved in drug stores, grocery stores, cosmetics shops, and so on. In a word, they are associated with business & economic work. But being involved in economic work cannot be called business. All of their parents’ economic work will be included in the business if they do it in the hope of making a living and making a profit. Business is basically the economic activities conducted for the purpose of making a profit. Producing food for family members, cultivating vegetables cannot be called business. Because there is no purpose to profit. However, all economic activities conducted for the purpose of making a profit will be considered as a business if they are conducted in a lawful and proper manner under the law. There are other features of the business that set it apart from all other professions. The product or service involved in the business must have a financial value. Another feature of the business is the potential for risk. So we can say that business is –
- One kind of financial activity
- Which has legal validity
- Which has financial value
- Whose purpose is to make a profit
- With which there is a risk relationship
- Industry
- Commerce
- Direct Services
(Note: You must draw the table on the answer sheet.)
- Genetic Industry (Nursery, Hatchery)
- Extractive Industry (Mining industry)
- Construction Industry (Road, Bridge, Culvert)
- Manufacturing Industry (Textile mills, )
- Service Industry (Banking Service, Health Care Service, Production & Distribution of Gas, Electricity)
- Natural Environment
- Economic Environment
- Political Environment
- Social Environment
- Legal Environment
- Technical Environment
(Note: You must draw the table on the answer sheet.)
- Natural Element: Most of the elements of the natural environment are favorable for setting up business in Bangladesh. Bangladesh is a land of rivers. As a result, it is possible to easily produce raw materials for various agricultural products.
- Economic Element: The effective finance and banking system in the country, the contribution of agriculture and industry, the people’s savings and investment mentality and the government’s patronage serve as a strong economic component of the business environment. Although the foundations of some of the economic elements in Bangladesh are quite strong, but most of them are very weak.
- Social Element: Most of the social elements of race, religious beliefs, attitudes, human resources, education and culture, heritage, science and technology business are conducive to business expansion in Bangladesh. The people of this country are ethnically, traditionally and culturally liberal, hardworking and creative. In the past, the people of this country have left their mark on their talents and hard work by building ships and producing Moslin cloth.
- Political Element: Good law and order situation and favorable industrial and trade policy, good relations with neighboring and other countries help in expanding trade and commerce. On the other hand, political instability, frequent changes of government, strikes, lack of business-friendly industry and trade policy, etc. adverse political elements hinder the expansion of industry and trade.
