Technical skills are not considered as one of the four most common business 2.0 characteristics. Today let us know about what is business 2.0 and what are its characteristics in detail.
If you want to understand the concept of business, firstly we need to know the characteristics that are required for the business. Now let us learn about the characteristics of the business in detail. Firstly the economic activity.
The economic activity has some of the value that will help us to learn the livelihood. It is nothing but it will simply help us to earn the money. Now let us take an example to understand the concept of economic activity. Let’s say we are trying to different types of products for money, then this is considered as the economic activity. But if you are selling the products for free this is not considered an economic activity.
Another type of feature is called the production or procurement of goods and services. Now let us know what is this in detail. Let’s say if you want to buy a pen, then we simply go to the shop where the pens exist. But in order to buy the pen firstly someone is to manufacture the pen. That means some manufacturers will be manufacturing the product and supplying it to the various shops. Here the owner of the shop will be preparing the product from the manufacturer. Now, this type of process is called as production or procurement of goods and services.
Another type of feature is called the sale or exchanging of goods and services for a specific value. It is nothing but we are selling some type of product to some value in order to earn money from it. This is called as sale or exchange of goods and services for the value.
And the other type of characteristic called dealing in goods and services on regular basis. It is nothing but we should be able to deal with all the goods and services on a regular term. Now in order to understand this concept let us take an example, let’s say we have a mobile phone and if you want to sell that mobile phone we simply search for a buyer and they said that mobile phone, now if this is called as a business then I consider it as no. Because the mobile phone is the only place that we have, and we’re not gonna sell anymore mobile phones after this mobile phone was sold, hence this is called as the one-time activity and will not refer as the business.
Per suppose if you buy a certain number of products from the manufacturer, and if you are selling this product on the regular basis then this is considered as the business.
Another type of character is called an element of risk. It is nothing but the profit that we cannot able to earn without any risk involved in it. Here if we want to do a business we always have a risk that is involved in it.
Now let us take an example in order to understand this concept in detail. Let’s say we want to establish near the town, here, we want to sell the pens but the demand does not turn over, then there will be a risk that is involved in the business. Hence this is called the element of risk.