Functions of a Business

The functions of a business are:

1. To produce high quality goods and services that will satisfy needs and wants.

Entrepreneurs enter business to make profits. They must be very keen in identifying those goods and services that will create high demand make profits.

2.To create employment

Business will need all categories of workers to carry out the various tasks required to achieve its goals. If the business is profitable and expands then more workers will be needed for its operations.

3.To make a profit

The reason for the establishment of a business is to make profits. If businesses are not profitable, its owners will not be encouraged to continue operating.  Profits are used to reinvest in the business for its expansion.

Previous | Next