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Word Business literally means busyness or the state of being busy. It includes all the economic activities of a busy man. Simple Meaning: It includes all those activities which are related to profit earning, So business includes all those legal activities whose primary purpose is to make a profit. Functions of a Business: Business functions are groupings of business processes and capabilities. 1.Organization: This is the first function of the businessman. It is about decided whether the business should be a sole proprietorship, partnership or a company. He should also decide what work should be allocated to each worker. In order to run the organization smoothly, he should also set the responsibility and authority of each individual worker. 2.Strategy: It is a long term plan. This function of business is about the development and implementation of a strategy. 3.Warehouse: In...