Introduction of Business Organization

Things to remember

• The nature and volume of the economic activities largely depend on the economic prosperity of the society.
• Business is centered on the service and satisfaction of the customers by fulfilling their needs and wants.
• Organization refers to the act of bringing necessary resources for the production and distribution of goods and services and utilizing them in the best possible manner for achieving the definite objectives.

• Business organization can be classified into the following forms:

  1. Sole trading Concern
  2. Partnership Organisation
  3. Joint Stock Company
  4. Public Enterprises
  5. Co-operative Society
  6. Multinational Company