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BUSINESS STUDIES:

The study of business field comprises:

•   Accountancy
•   Economics
•   Finance
•   Marketing
•   Organizational behavior

Defining and understanding different business systems and environments is an important part of business studies. A business system is a set of collective and organized things which can form a unitary set up. A business system works to arrange different components and achieving the goals as planned.

Business studies comprise various business systems to attain a balance in entirety. A business enterprise is a set of such business systems that collaborate with each other for the smooth running of a business.

These business systems include:

•   Finance systems: responsible for looking after finance functions
•   Production systems: it take cares of production
•   Marketing: it involves marketing functions
•   Personnel systems: it includes human resources development, utilization, and management

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A business study is incomplete without having a case study at hand. The different fields of studies require a separate case to be taken as an example of that particular field. Also, a business study encompasses business cycle and its clear understanding. Whatever the business is, it is crucial to have the knowledge of a business cycle.
A business cycle involves:

•   Expansion
•   Boom
•   Trough
•   Contractions

It is all setup in a regular period of time. So, it is a must to study and understand in business studies.
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