Write an essay on the scope of business.
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Answer:
Scope of Business
After the Industry Revolution, the scope of business organization has largely extended. The role of business organization in various forms of business is discussed in brief:-
Sole proprietorship
In this form of business, due to simple structure of organization, entrepreneur brings his own capital. He is organizer, operator, controller, decision maker, financier, and above all, responsible for all the success and failures of business.
Partnership
In this form of business, according to the agreement each partner introduces capital, Management and labor. In the management, partners decide among themselves to which partner can be suitable for take part in affairs of business. As the partnership business is running on small size, the business organization structure is very simple.
Joint Stock Company
In this form of business, the work of organization started even before its amalgamation by the promoters. This work of organization continues after amalgamation. Responsibilities are prepared on organizational chart and duties of the personnel employed are defined, procedures are laid down. The scope of this form of business organization is quite wide and complicated.
Scope of business
Be it anything ranging from food to finance, anyone dealing with this would be highly beneficial. Why I say this is because when we went into lockdown, we saw Zomato and Swiggy shoot up into the sky with its delivery performance. India also saw that insurance companies took a shot because, with the severe financial downfalls in the economy, everyone took to insurance purchase. So, the simple advice is that you can take up any business, just wait for it to thrive.