MANAGEMENT

Detailed explanation-1: -Every business exists for a purpose. It may sell goods or services. Businesses must make a profit to exist. They need to know what they want to do and how they want to do it in order to attract and keep customers.

Detailed explanation-2: -The hierarchy of Business Goals. When building a business, you should concentrate on a different hierarchy: Survive. Sustain. Profit.

Detailed explanation-3: -There are three common types of businesses-sole proprietorship, partnership, and corporation-and each comes with its own set of advantages and disadvantages. Here’s a rundown of what you need to know about each one. In a sole proprietorship, you’re the sole owner of the business.

Detailed explanation-4: -1 a trade or profession. 2 an industrial, commercial, or professional operation; purchase and sale of goods and services. the tailoring business. 3 a commercial or industrial establishment, such as a firm or factory.