Assignment: Introduction to Business – Lecture 2 - BBA
Topic: Importance of Business in the Present World (21st Century) --- Introduction In the 21st century, business has become the backbone of the world’s economy. It plays a vital role in improving our living standards, providing jobs, and helping countries grow. Business today is not limited to one area—it connects people, goods, and services from Gilgit-Baltistan to the entire world through modern technology, transport, and communication. --- Importance of Business in the 21st Century 1. Mass Production Businesses today produce goods on a large scale using modern machines and technology. Example: Factories producing bottled water or packaged dry fruits in Gilgit and sending them across Pakistan. --- 2. Expansion of Market With e-commerce and online business, markets have expanded globally. Example: People from Hunza or Skardu can now sell handicrafts or dry fruits online to customers in Karachi or even abroad. --- 3. Innovation Innovation means creating new products, services, or ...
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