**Write the Functions of business. Or, Discuss the various functions of business.

**Write the Functions of business.

Or, Discuss the various functions of business.

            Business is the combination of activities those have the motive for earning profit through satisfying human needs and wants. To do this business performs several distinctive activities. Those are as follows-

            1.Planing

            2.Production

            3.Purchases

            4.Financing

            5.Accounting

            6.Advertisement and publicity

            8.Warehousing

            9.Distribution          

            10.Standardization and grading

Now short description of these is given below-

1.Planing: The first and main function is to make plan for production, distribution and financing activities. No business can be successful  without proper planning.

2.Production: Production  means the natural resources turning  into main products that can solve the human needs and wants problem. So production is an important function of business.

3.Purchase:The business organization has to purchase raw materials and other equipments for production function and other related functions. That means whatever the business size or type it must be engaged in purchase.

4.Sales: The equity of products transfer through sales. It is the only source of revenue of the business firm. The success of business is related with the success of sales.

5.Financing: Money or capital is the backbone of the business. Financing means collecting and investing capital in the business operation. So it is an essential task of business.

6.Accounting: Accounting means record the business transactions and determine the profit and loss, cost and revenue etc. By this function the future forecasting of the business can be determined.

7.Advertisement and publicity: The present world is the world of publicity. It is not possible to create customers for the product with advertisement and publicity. And that is why publicity and advertisement is essential for the business.

8.Warehousing: Warehousing is also an important function of business, products are not sold at the time of production, that means it needs to store.

9.Distribution: Ensuring the proper distribution of produced goods and services  is also important function of business. Business perform this activity by transportations.

10.Standardization and grading: Products are standardized based on its quality, weight, size etc. and grading means differentiate products into different categories.

            From the above discussion finally it can be said that these are the major function of business.