11th NCERT Business Studies Chapter 1
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– Financing the proposition: Involves providing necessary capital for starting and continuing the business, including investment in fixed assets and current assets.
– Physical facilities: Availability of machines, equipment, and supportive services is crucial and depends on the nature, size of the business, and availability of funds.
– Competent and committed workforce: Essential for converting resources into desired outputs; plans for employee training and motivation are crucial.
– Tax planning: Necessary due to numerous tax laws influencing business decisions; entrepreneurs need to consider tax liabilities in advance.
– Launching the enterprise: Involves mobilizing resources, fulfilling legal formalities, starting production, and initiating sales promotion after making decisions on various factors【4:0†source】.
State the meaning of business.
Why is business considered as economic activity?
What is the role of profit in business?
What is meant by business risk?
State the causes of risks involved in business.
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