Stages In The Evolution Of Business
STAGES IN
EVOLUTION OF BUSINESS
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Stages In The Evolution Of Business
The evolution of business went through following five stages:
First, the local business evolved from its three basic sub-stages, namely; starting with
barter economy, then followed by village and town economy.
Secondly, the regional business grew as a result of cooperation between different
states.
Thirdly, the national business was an outcome of a business presence felt in the entire
country.
Then, international business emerged as an answer to fulfill the scarcity of resources
felt within each country.
Finally, an idea to see the entire world as one huge market was realized. This paved the
way to form a new concept called global business.
© 2015 albert-learning.com
Stages In The Evolution Of Business
1. Local business
Business had its origin since early ages of human civilization. It began with a mere
sharing of food commodities. People used to collect and store whatever surplus they
had and use to seek out something they didn't have. This gave birth to a form of
business in local areas.
© 2015 albert-learning.com
Stages In The Evolution Of Business
2. Regional business
“Regional-business is a business between different areas within a country.” It mainly
includes trade between various states, which are political divisions that make up a
country. Here, credit sales get more importance
© 2015 albert-learning.com
Stages In The Evolution Of Business
3. National business
National business is spread in the most parts of a country. The business at a national
level first started in England during the era of Industrial Revolution. The joint-stock
companies became very popular during this stage. The size of a national business is
always large when compared with the business done at a regional level.
© 2015 albert-learning.com
Stages In The Evolution Of Business
4. International business
The term international business implies “businesses conducted among or between
different nations.” Here, two or more countries do business with each other. It mainly
consists of imports and exports. For example, crude oil - rich gulf countries export their
raw oil and in return import the scarce food items. It helps to improve friendly relations
between different countries. It also helps to improve the standard of living of the people.
© 2015 albert-learning.com
Stages In The Evolution Of Business
5. Global business
The global business is the most current and latest mature stage the modern business
has evolved into. Here, the entire globe or world is considered as one huge market of
opportunities. Large funds, skilled human resource, an ample amount of creativity and
innovation, best quality of produce and services, along with world-class logistics
and marketing are required to sustain the tremendous pressures of its severity.
© 2015 albert-learning.com
Stages In The Evolution Of Business
Quiz
1) Are you working or self employed?
2) What is better – doing a job or doing a business?
3) Are there any risks involved in setting up an own business?
4) What difficulties are faced by small businesses?
5) What measures should be taken to encourage the small entrepreneurs?
© 2015 albert-learning.com