Choosing Your Business Career

CAREERS IN BUSINESS

Business is an increasingly important activity throughout the world today. Consequently, the opportunities for a business career have grown in variety and number. There are now five broad fields, or areas, of business that offer exciting careers:

• Management
• Marketing 
• Accounting
• Finance
• Computers and data processing

Within each of these fields are specific jobs in which you can specialize. For example, within the field of marketing you can specialize in market research, advertising, buying, selling, or distribution. The figure below shows general career opportunities that are available in the various fields of business.

In choosing a business career, there are several questions you may want to ask. For instance, does the work interest you? Are there any areas of business for which you have an aptitude or special capability? What are the opportunities involved, such as salary, chance for advancement, and demand (or need) for the job? Answers to these kinds of questions and careful planning will help you choose a suitable and successful career in business.

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Business Definition

WHAT IS BUSINESS ?

Business is a word that is commonly used in many different languages. But exactly what does it mean? The concepts and activities of business have increased in modem times. Traditionally, business simply meant exchange or trade for things people wanted or needed. Today it has a more technical definition. One definition of business is the production, distribution, and sale of goods and services for a profit. To examine this definition, we will look at its various parts.

First, production is the creation of services or the changing of materials into products. One example is the conversion of iron ore into metal car parts. Next, these products need to be moved from the factory to the marketplace. This is known as distribution. A car might be moved from a factory in Detroit to a car dealership in Miami.

Third is the sale of goods and services. Sale is the exchange of a product or service for money. A car is sold to someone in exchange for money. Goods are products that people either need or want; for example, cars can be classified as goods. Services, on the other hand, are activities that a person or group performs for another person or organization. For instance, an auto mechanic performs a service when he repairs a car. A doctor also performs a service by taking care of people when they are sick.

Business, then, is a combination of all these activities: production, distribution, and sale. However, there is one other important factor. This factor is the creation of profit or economic surplus. A major goal in the functioning of an American business company is making a profit. Profit is the money that remains after all the expenses are paid. Creating an economic surplus or profit is, therefore, a primary goal of business activity.

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