Introduction to Business - Definition of a business

My classmates and I who are from Foundation in Design, only started joining the class after a few weeks .This is because there was a conflict in our schedule and it was not properly scheduled for the past weeks. After everything was settled, we were told that we will be joining the Foundation in Natural and Built Environments' business class.

During our first business class, we learned about the definition of a business.

A business is usually a legally-recognized organisation whose purpose is to make profit by selling goods or by providing services to the customers. There are also organisations that are running without profit-seeking motives and they are called Non-Profit Organisations. For example, the World Wildlife Fund (WWF) and Museum Negara.

There are 2 major forms of Business which includes, goods-producing businesses and service business. Consumer products, mining, construction and many more are included in the goods-producing business whereas banking and insurance, entertainment, healthcare, education and many more are included in the service businesses.

Other than that, understanding the external environment is curial for business survival and success, such as:
- Political and Legal Environment
- Sociocultural Environment
- Economic Environment
- Technology
- Global Business Environment
- Domestic Business Environment

REFLECTION
My favourite part of the lesson that I have learnt this week is the part that talks about the non-profit organisation. Most of the companies or organisations in the world either aims to be the top or to be the one that makes the most profits. However, those who are in charge of the Non-Profit Organisations (NPO) should be admired for their generosity.

There are some big and really helpful NPOs in Malaysia such as:
- Malaysian Association for the Protection of Children
https://www.crin.org/en/library/organisations/malaysian-association-protection-children
- MERCY Malaysia
http://www.mercy.org.my