What is Business?

What is a business? A business is an organisation involved with trading goods and services  to consumers and make decisions in order to become successful such as generating profit. In Grade 9, I am starting a new course which is called Intro to Business and it is all about how do businesses work. Our statement of inquiry is understand that entrepreneurs must innovate in order to remain competitive over time. How this topic relates to the statement of inquiry (SOI) is that entrepreneurs start businesses so in order to start a business, you need something unique or special which is innovation in order to attract consumers which are buyers to buy whatever you are selling whether it is goods or a service. How this relates to the global context which is orientation in time and space is that businesses change over time and that in order for entrepreneurs to stay on top of their game, they need to change or innovate with new ideas and products in order to keep attracting consumers which also connects to the SOI. An example is Apple. When the iTouch came out it was the revolutionary product of its time. Now Samsung and Apple are innovating the smartphone world with new features coming out every year so that they keep innovating and still attract consumers.

 

 

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