Question

What is the nature of the business enterprise

Answer 1

Answer:

Business Enterprise: Business enterprise is defined as the enterprise which planned to generate revenue, profit or wealth for the organization by exploring the business processes. We can also defined as the activities engaged in products supply or services support like financial, commercial, industrial etc that are focused for generating the revenue/profit for the firm. Business enterprise are

Nature of the Business Enterprise: The nature of the business enterprise is as below

• Business Concept: the nature of the business enterprise is that it is on the concept of business, where product or services are supplied against money.
• Revenue/Profit Generating: the nature of the business enterprise is to generate the revenue and profit for the organization.
• Product support/Service Support: the business enterprise either engaged in product supply or service supply to the consumer market to generate revenue or profit.
• Use of Business Practices: the enterprise uses the business practices to generate profit from the use of resources and raw material with the given method and procedures.
• Investments for wealth generation: the nature of business enterprise includes the investment from the firm for developing the set up for the business.
• Use of resources - help employment: The business enterprise uses the resources for running the business process, thus it provides the employment for the people.