Introduction to business studies

Meaning of Business Studies

Business Studies may be defined as a combination of inter-related business subjects which lead to learning of basic knowledge and skills.  It is a course in education that is designed to cover the basic elementary knowledge and skills in organizing business enterprises as well as general office administration.

Importance of Business Studies

The following are the importance of Business Studies:

1. Acquisition of basic knowledge of Business Studies.
2. The development of basic skills in office practice.
3. The preparation of students for further learning in Business Studies.
4. The provision of orientation and skills for those who undergo further training in order to enable them start a life of work.
5. The provision of basic skills for personal use in the future.
6. Relating the knowledge and skills to the national economy.
7. Update knowledge on current information technology e.g. Internet, E-mail, fax and computer communication.

Components of Business Studies

Business Studies as a subject has inter-related areas of study such as Office Practice, Book-keeping, Commerce, Keyboarding and Computer Studies which function at the same time when an enterprise is established. These inter-related areas of study are also called the Inter-related Elements of Business Studies. There are five components of Business Studies, namely:

(i) Office Practice: This is to acquire skills for the purpose of office occupation and administration.

(ii) Commerce: It involves the production, exchange, distribution of goods and services in the organization.

(iii) Book-keeping: This is for keeping records of all financial transactions of the organization.

(iv) Typewriting/Keyboarding: It is for the preparation and production of office documents in the organization.  Keyboarding is the technique of using the computer or typewriter keyboard to produce printed information in hard or soft copy. Hard copy refers to information on paper while soft copy refers to information on the computer’s storage device.

(v) Computer studies: This deals with the use of computers and how it processes data, solves a specific problem or carries out a particular task.

Career Opportunities in Business Studies

Those who have undergone training in Business Studies can be employed as:

1. Clerks who keep general office records
2. Typists who do copy typing in the office
3. Computer operators who use computer to produce office information
4. Bookkeepers and accounts clerks who keep record on business transactions
5. Salesmen who sell goods in supermarkets and stores
6. Receptionists who receive visitors and make telephone calls
7. Self- employment: Those who will go to secondary level (senior), can study the following courses in higher institutions:

• Accountancy
• Business Administration
• Marketing
• Personnel Management
• Insurance
• Actuarial Science

EVALUATION

1. What is Business Studies?
2. Mention five objectives of Business Studies.
3. State five (5) components of Business Studies.
4. List five career opportunity available to those who study Business Studies.