Business Management: The Nature of Business Activity.

Q1. Business organisations are of great importance for both society and the individual. A good way of showing their importance is the Business Cycle below. Organisations exist to provide Goods and services. Business organisations are there to satisfy consumers and in satisfying these consumers they are providing resources i.e. wages/salary. In order to carry on successfully they have to create new demand by developing new products and marketing. All the while these organisations …

…for each of the different types of business. *Sole Trader: - To make a profit. Achieving a stable working environment. *Partnership: - To make a profit Ensuring survival in the marketplace. *Public Limited Company: - To make a profit. Expanding the business. *Private Limited Company: - To make a profit. Expanding the business. *Co-operative: - To make surplus. To protect themselves from unfair and dishonest trade practices and ensure their needs as consumers are satisfied.