2 Answers | Add Yours
Business commerce is the exchange of goods and services for money and is usually carried out across state, national and international boundaries. Commerce involves the purchase of raw materials for production as well as the purchase of operating expense items, sales, marketing, delivery and customer service. Commerce is regulated by the Department of Commerce in the United States. From its website, the Department of Commerce promotes "job creation, economic growth, sustainable development, and improved standards of living for Americans." Commerce is an essential element of the capitalist system. Most commerce involves a form of currency.
Business occupations can refer to the work/trade that individuals engage in to earn a living. It can also refer to an employed or self-employed person, such as a doctor, lawyer, teacher or businessperson.
Business organizations are social units made up of individual workers with a management structure in place in order to coordinate tasks, jobs and responsibilities. Some organizations are formed for profit, while others are formed as non-profits in order to raise money for public purposes. Organizational structure is important, as this impacts employee morale and in turn influences satisfaction with their jobs and duties within the organization.
So, essentially, you and I can have an occupation in an organization, be it for profit or non-profit, and engage in state, national and international commerce.
Also, you might be interested to know there is a difference between job and occupation. The term occupation is broader: it refers to a wide category of jobs (specific positions) that have similar characteristics. For example, say you want to have an occupation as a writer. Within that occupation, you can write for magazines, newspapers and journals or you can be an author of science fiction novels, cookbooks, autobiographies, etc. The sky's the limit here. You can also write for online publications, or you can write as a political analyst. You can also write songs to be performed by yourself or someone else. You can write movie scripts or television scripts. Thanks for the question!
Basically, a business system is any procedure or process you use in order to be successful as a business entity.
In order to successfully engage in commerce, you will need to streamline your occupational units (employee sectors) within your organization. As I stated above, an organization consists of workers and a management structure which manages the productivity of all employees.
Among other things, a business system includes good prospecting/lead generation capability, accounting and payroll efficiency, an effective hiring and employee appraisal system, accurate inventory, purchasing and shipping practices plus well-tested safety and customer service satisfaction procedures. Your occupational units make up these areas in the business system; therefore, you also have to design an effective employee morale program in order to keep employee turnover low.
An example of how all these come together:
Good lead generation may involve direct mailing, telemarketing, or radio advertising. Your employees will be engaged in finding business prospects or potential clients through these lead generation procedures. After identifying prospects, another set of employees may focus on converting these prospects into regular customers. You must be supported at this point by an effective team of book-keeping and payroll system specialists: cash flow is important here. Are you spending too much or too little? Are you paying your employees at the optimum rate for their skills? Can your team identify areas where there is waste? Do you have an effective billing system for your customers? This means that bills must be sent out in a timely manner, all bills should accurately provide information to the customer on what the customer is being billed for and an effective customer service system should be in place. A customer should always be able to speak to a courteous and helpful customer service representative to resolve any issues.
To support, train and keep good employees for this business system, do you have a good benefits system in place? Will you provide medical insurance, college reimbursement benefits, life insurance benefits, vacation benefits, retirement benefits or training programs for your employees? Also, accurate records must be kept on inventory, purchasing, shipping and monetary transactions with other companies and clients. Are your company's order fulfillment policies and pricing options fair and reflective of the current business climate and economy?
So, this is just a snapshot of how your team of employees work within your organization in order to maximize commerce and profits for your business. I hope I have answered your question. You may be interested in some links below which further explain how the business system operates.
Note that the second link has a short video on what a business system is and how it works.
We’ve answered 319,627 questions. We can answer yours, too.Ask a question