Why is Business Knowledge Important for You to Learn?

Today the world is rolling over a triangle of knowledge, invention, and business. Among them, business is the most competitive and crucial one, cause, economy is the main driving force of a nation. And to lead the nation toward development, we need more contribution in the economic sector. To utilize our knowledge and inventions in the growth of our national economy, business is the best way. Cause, business is deeply related to our day to day life, from morning to sleep whatever we do and have somehow connected to a business.

“You have to be burning with an idea, or a problem, or a wrong that you want to right. If you’re not passionate enough from the start, you’ll never stick it out.”

Steve Jobs

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In academic definition, “Business” indicates all those human activities which are related to the production and distribution of goods and services in the motive of earning the profit. Just think about the smartphone or the laptop you are using right now. These have made your life easy and way better than before. Like these two, we are using so many gadgets and products or services in making our life smooth. And surprisingly all these are at your hand for business.

If there was no business we would have to make our own laptop, phones, and other accessories which is definitely not a good idea at all.  Every successful businessperson belongs to the leading position in the economic world. If we look at the top 10 rich persons (Jeff Bezos, Bill Gates, Warren Buffett, Larry Ellison, etc.) around the earth, we will find them all doing business using their knowledge, creativity, and leadership skills. It is undeniable that business is leading the economy and the economy is leading the world. This is why we need to learn and basic knowledge about the business to cop with the mostly business-oriented modern world.

In this 21st century, the factor that has dramatically changed the business sector overnight is Information Technology. Without the help of information technology, we simply can’t run a business successfully. It’s not about small businesses that are run by a single person or huge multi-national corporations, in every single type of business, we will need the adoption of information technology. Big business giants like ALIBABA, AMAZON, DARAZ, FLIPKART, etc. are earning billions and running their operation with the help of information and technology.

The Green business concept is being highly emphasized in the last several years. The green business actually means doing business without harming the environment. It’s a joyous fact that business is expanding through the earth rapidly but it is also polluting the environment and affecting our ecosystem badly.

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The industrial waste, smoke is harmfully impacting nature. And the good news is many business organizations are willing to walk through the path of green business. Cause, the green business can save us from the horrible natural calamity like Global Warming, Climate change, etc and it is our moral and social responsibility to save the world.

Another most sensitive part of the Business is ethics. It refers to the moral value, social responsibilities, and other related terms in business. People have a soft corner for ethics and so they want the products or services they get from the source will be ethically valued. So, to be ethically valued and trusted by the customer, a business must be customer friendly, fare, with a reasonable price tag, against fake marketing.

Actually, Business has increased the comforts of the life of the people not only by producing and distributing goods and services but also giving them the experiences. So,  Acquiring the knowledge of business we can become a successful businessperson or be part of global leadership, innovation, and economic growth.

Contributor: S M Salman | Studying at Mawlana Bhashani Science & Technology University, Bangladesh.