What is a business ? Griffin and Ebert (1996): "Business is an organisation that provides goods or services in order to earn profit". It is a commercial activity of making one's living or making money through trading , manufacturing or providing services. The element of risk is also involved in it. According to Peter F. Drucker : "There is only one valid definition of business purpose : to create a customer ". Quality in a product or service is not what the supplier puts in . It is what customer gets out and is willing to pay for. " It either helps them grow or stunts them" "Change that creates a new dimension of performance" Commerce : Commerce includes all those activities which are helpful in transferring goods from place of production to the consumer. Purchases , sale , transportations , advertisement are the activities which come within the scope of commerce . Trade: T rade is an important part of commerce. It mean
