We all live in a very vast and complex business environment. Whether we are poor or rich, the business activities around us have made our lives easy by fulfilling our basic needs and also improving our standard of living. Today’s business activities are changing at a faster speed because of the advancement of science and technology and better communication system.
Modern methods of production and distribution have made today’s business world a global market. The goods and services produced in one country are now readily available in other countries. Scientific management, use of advanced information and communication technology, readily available finance and insurance provide greater relief to the complexity of business activities.