Question

What is the modern concept of business

Answer 1

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Consumer satisfaction is the central point of modern concept of business. Profit can be earned by maintaining social responsibilities. It survives to include every aspect of human civilization. It views the modern business as a social-economic institution which always responsible towards the society.

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Answer 2

The modern concept of business entails the latest trends with new and innovative ideas of doing business.  It has brought in the new age of automated online business transactions through e-commerce and trading

Explanation:

• The modern concept of business has introduced the latest trends of conducting business with creating loyal customers. It entails business transactions with developing effective long term customers along with the bringing in ethical ways of doing business for the welfare of the society and the environment.  
• Customer satisfaction is the the main focus of modern business trends through latest technologies of online trading and e-commerce transactions. Today people are able to buy things of their choice through the internet at their prices
• E-commerce has changed the traditional form of conducting business  operations and people are able to buy things from any part of the world. The modern form of business has made the market more dynamic with more competition among the enterprises for selling their products

To know more about modern concept of business

What is the concept of the ‘Business Environment’ ? Explain its nature and Scope in modern Business.

https://brainly.in/question/8670195

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