Did you ever think from where the “Business”, that we see and understand today, came from? The mankind is involved in business since very ancient time of history. People have been doing business from the very beginning of evolution, knowingly or unknowingly. Initially the business was just the exchange of goods and necessary staffs, before currency emerged. That was the most simple and very initial form of business at the beginning of civilization. Scholars mentioned that kind of business as “Barter System”, after business turned into a vital subject to study and doing research. The feel of lacks, needs, wants and demands played the role to initiate exchanging things and that simple activities helped to build the current scenario of business that we are seeing today.
Whatever we think and understand of business didn’t get in its current shape over night. If you go through the history of business evaluation it might seem very fascinating and interesting. And certainly, you may conclude that the total evolution of the process has gone through down the timeline of human civilization in a very fast and rapid motion. But if you observe business closely, year by year, you can understand that it has gone through many ups and downs. And it is the result of thousands of corrections made after innumerous events and effects of reactions in interrelated prospects.
Apart from the historical and basic meaning, what we think of after hearing the word “business”? Answers may vary from person to person according to their knowledge and insights of business. But I am pretty sure that, most of the general people, with a minimal knowledge of business things, will have a common answer, which is “Profit”. Though definitions of business doesn’t include the profit part in the very beginning but ultimately the main motive of running a business is earning profit or making more money of what you have. It may sound a little off bit and really narrow in thoughts but eventually this is the real picture of business.
You can look at business in two different ways, like; the narrower way, in which it means just earning profit and making money, or, the broader way, which also includes earning profit but has a bigger and deeper perspective of activities and affects that business has on other sectors. If we see deep through business and consider its broader perspective, then it is actually really complicated and full of reactions, not chemical reactions, but economical reactions. Business has grown to a state where it can easily control and manipulate activities from individuals to state. When it comes to international form it gets hazier with the involvement of international laws, trends and so many other critical mouthful things. Describing business and its effects, criteria and involvements in one single article is impossible. Scholars and researchers have written thousands of books and papers on business and how it actually works. Summarizing them in few words is really tough task to do and will not be very effective either. Instead of elaborating the deeper and critical part of business, this article mainly deals with the simple and basic ideas and concepts of business which may give you a fine picture of what business is, how it works and pros and cons of doing business in 21st century. This may get boring sometimes and there may be some bookish words of which you really don’t have any idea but you will get to so many things about “Business” after you reach the very end of this article.
We live in a world now, where business is almost everywhere! You may think that there are other sectors like service, defense, politics, social services, education etc which cannot be categorized under business. But think from another point and observe closely. Rewind the activities of the stated “non-business” zones and observe. Do you really think they are not business at all? It may be done for the greater welfare of mankind but it still includes monetary facts and eventually gaining something, in terms of money or popularity. When you will think like a businessman, or just from the business perspective, you will find that, everything can be considered as business. It doesn’t need to be a start up; which is opening a brand new business of your own. Even a pure no- profit-seeking act can be a business too!
The act which helps to gain fame is also a business. The criteria of business are so vast and ambiguous these days that it can’t be distinguished from most of our activities. So you can say, business is everywhere; from simple acts like buying food to doing actual business tasks like manufacturing, marketing etc. you may not find the “business” part in some activities, but it still exists in there. For instance; if we consider education, who would think of business in this? But there is. The education providing organization is doing something to build a nation but it is also taking fees from students to run it, keeping some money in funds for branding its name, providing scholarships to boost its fame.
World is getting faster and smaller day by day. Everything we see, eat, drink or watch is the result of the world which is emerging globally. And this “world turning into a village” has a greater impact on business as it syncs every country of the world together and their entire activities regarding demand, supply and economic matters. Globalization and business is more complex concept and getting terribly complicated day by day. It now includes international laws, rules and regulations and international interrelated politics. Though some countries find it hard to comply with the “internationalization” but business seems to tend tapping markets across its home boundary. This has become very common and obvious incident of business which is, going global. It may be very small or huge; businesses are rapidly getting into global position which is accelerating the whole concept of globalization at large.
Doing business in international platform is not as easy as doing it in a single country. There are different cultures and norms which shape and design the business type and its activities when it steps outside its comfort zone. And these variations are widely considered as a barrier when you are serving just one product. Global products are much harder to figure out as not every country will have the same tastes and preferences. Still we can see some multinational companies like Unilever, Microsoft, and Toyota etc having a successful business “almost” worldwide. The term almost is used because we can find some countries where they haven’t stepped in yet. The world is looking forward to see global brands, serving same standard and all sorts of products, worldwide. Thus the vision of globalization will come true and world will literally turn into a village.
Though business has so many glittering features and it can take to the peak of success once you hit the market with what it wants. But making a successful business is not a piece of cake as it sounds. There are some tactics and moves that a business has to make to bit the market. Successful business can only be the result of the deep knowledge of business activities which comes from experience, observation and clicking the right decision on the right time.