In the business, entrepreneurs should be able to capture and utilize every opportunity in order to gain profit. The profit here is not limited in term of financial only, but also business networking and find business partners. However, creating a business opportunity is not as easy as turning the palm. It takes a strong will, creativity and innovation in developing the business.
To achieve the business goal, the business owners should first understand the critical elements in the economic activity. This economic activity have significant influence that affect the business activities:
- Human desires. Every person has their own desires to make it comes true. Desire is the basic human nature which will encourage them to strive to fulfill their desires. For example, when someone wants his business runs well, then he has to maximize his capability and work hard how to make his product or service is recognized by customers and popular in the market.
- Resources. Resources are important points in the economic activity. This resources existence will determine the business’ success or failure. For example, when a person starts a catering business, at first he has no idea how to deliver the food properly. It may cause customers’ complaint due to broken packaging or spilled food when they receive their orders. A catering business owner should have someone to delivery the order and he must know how to handle the food .
- Production process. The business owners should understand the detail of production process, how the goods or services are processed. They have to know exactly what goods or services are produced, the goods quantity and the financing.Understanding the production process and its related activities thoroughly will broaden the owner’s’ knowledge and encourage customers to trust their products.
Understanding the critical elements in the economy is closely related to the business activities. This will make the business ready to face the challenges and run on the determined track.
