Dimentions of business

A business is an organization engaged in production and marketing of products.It achieve its objectives through customer satisfaction.It provides value to stakeholders.The dimension of business are :

1. Objectives :Profit is the main objective of business.Modern business organizations multiple objectives such a profit,growth,survival,market leadership ,social responsibility.
2. Customer groups :Customers occupy a central place in business.Business exits to satisfy customer needs.Customer group can be:

• Consumers :They are individuals and household.They buy products for ultimate use.
• Organizations :They buy products for business use,resell or to make other products.They can be industries,retailers,government and non-government organization.

3. Customer function :A business performance various functions related to customers.They can be related to product,price,place and promotion.They can be related to services to customers.Relationship management with customers in an important function of business.
4. Technologies :Business uses technologies to transform input into output.They are knowledge,skills,equipment,techniques and process required to perform customer functions.They can be high-tech or low-tech.
5. Change :Modern business organizations are constantly undergoing change.Technological advances,information communication technology evaluation,globalization and changing forces in environment produce change.

• Strategic management should carefully considered the above dimension business.