This document outlines 7 key characteristics of business: 1) Businesses exist to create value for customers and earn a profit. 2) Businesses produce or purchase goods and services to sell to others. 3) Successful businesses require recurring transactions, not just isolated deals. 4) All business activities involve exchanging goods and services for payment. 5) Earning profits is essential for a business's survival and growth. 6) Business involves risk as there is uncertainty around achieving profits or avoiding losses. 7) Businesses engage in economic activity like production and distribution of products and services to earn money.

1. CHARACTERISTICS
OF BUSINESS
Presented by :
Anoop

2. 1. CREATION OF UTILITIES

In the words of Roger, "a business exists to
create and deliver value satisfaction to
customers at a profit".

3. 2.DEALINGS IN GOODS AND SERVICES

Every business enterprise produces and/or
buys goods and services for selling them to
others.

4. 3. CONTINUITY IN DEALINGS

According to Peterson and Ploughman, "a
single isolated transaction of purchase and
sale will not constitute business recurring or
repeated transaction of purchase and sale
alone mean business."

5. 4. SALE, TRANSFER OR EXCHANGE

All business activities involve transfer or
exchange of goods and services for some
consideration.

6. 5. PROFIT MOTIVE

Profits are essential for the survival as well
as growth of business.

7. 6. ELEMENT OF RISK

Risk implies the uncertainty of profit or the
possibility of loss.

8. 7. ECONOMIC ACTIVITY

It involves production and distribution of
goods and services for earning money

9. 8. ART AS WELL AS SCIENCE

It requires personal skills and experience &
based on certain principles and laws.

10. REFERENCES:

www.preservearticles.com- By Soumya
Singh.