Introduction To Business Studies

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In today’s class, we will be talking about the introduction of business studies. Enjoy the class!

Introduction To Business Studies

Business Studies

Business studies is a subject that provides us with the knowledge, understanding and skills needed for productive work or activity. A productive activity involves using business resources to make goods and services that satisfy human needs and wants.

Business studies can be regarded as the study of the methods and techniques of setting up and running a business venture profitably. The main objective of going into a business is to make a profit.

Importance of business studies

It teaches you how to establish and run businesses (Private or Public) efficiently.
It develops and prepares you for office occupations in future
Business studies equip you with the basic skills with which to begin an occupation if you do not have an opportunity for further training.
It allows students to understand the necessity for the existence of various businesses. Furthermore, students can differentiate between types of businesses.
Business studies enable students to develop a keen interest in various forms of business, which they can engage in (set up) after leaving school.

Components of business studies

This level, the term business studies comprise various areas of business that can be studied, analyzed and explained. As you move up in your school career, you can specialize in studying a specific area of business.

1. Office practice:

Office practice deals with the study of the principles & procedures of running an office. It deals with activities carried out on a day-to-day basis within an organization.

2. Commerce:

Commerce is that part of a business endeavour that deals with trade and aids to trade. It covers the buying and selling of goods and services along with those activities that facilitate this exchange to take place. Trade knows the facilities that make the exchange of goods and services easier as aids. They are banking, insurance, transportation, warehousing, adverting and communication.

3. Bookkeeping:

Bookkeeping is concerned with the recording of business transactions in an orderly and meaningful manner. The process of buying the goods, selling them, paying the suppliers, receiving payments from customers are called business transactions. The trader cannot rely on his memory for all these transactions. He or she needs to record them in the books of account. This all is called Bookkeeping.

4. Shorthand:

Shorthand is an act of using symbols to represent spoken words/sounds. It can be used to record information speedily and accurately. One of the systems of shorthand in the world is PITMAN.

5. Keyboard:

Keyboarding in the techniques of using the computer or typewriter keyboard to produce printed information in a hard copy or soft copy. Hard copy refers to information on paper while softcopy refers to information on the computer storage device such as compact disc or flash drive.

Career opportunities available in business studies

Those who have undergone training in Business Studies can be employed as:

Clerical officers who keep general office records.
Typists who type documents in the office.
Computer operators who use the computer to produce office information
Bookkeepers & accounts clerks who keep records of business transactions.
Salesmen who sell goods in supermarkets and stores
Receptionists who receive and attend to visitors and make telephone calls in an office.
Stenographers who take dictations in shorthand in offices.

Other Career Opportunities are:

Self-employment, for students who proceed to the University after a successful senior secondary education, can study the following courses, accountancy