1.Sales, Transfer or exchange of Goods and services for Value.
2.Continuity of Dealings
3.Profit Motive
4.Uncertainty and Risks
These four Characteristics is discussed below
1.Sale Transfer or exchange of goods and services for Value
Business Involves sale , Transfer or exchange of goods and services for Value. Production or purchase of goods and services for personal consumption is obviously outside of the scope of Business because there is no sale or transfer for value. Therefore, production or purchase for one's own consumption is not a business activitiy. Other hand if the production and purchase for others it is considered as a Business activity.
2.Continuity of Dealings.
Continuity of dealings is critical for the success of any business organization. By focusing on strong leadership, financial stability, consistent quality, reliable supply chain, good communication, and effective human resource management, organizations can build trust and long-term relationships with stakeholders, ensuring ongoing success over the long term.
3.Profit Motive.
Profit is the ultimate aim of any business. It may have other Motives also but if this motive is absent. It is not a Business activity at all.
4.Uncertainty and Risks
Profit for any business depends not only on the Factors over which he has no control ot less control. Thus all business activities involve some elements of risk and Uncertainty in respect of the success of the business.
