The Business of The Business is Business… (PART-1)

I am a teacher working for the betterment of children in the field of education. We always talk, argue, and discuss about issues in education. These talks, arguments, discussions were never ending. Curriculum, pedagogy, assessments, disciplines, behaviors, & on and off campus activities were always our passion. But today I thought of writing about business because I believe what we are doing is our own business.

Let me ask you a question. What is the secret behind a business? I know you will have lot of answers to this question. Because we, teachers usually ask questions from students keeping the answers in our mind. And students will have several choices as their answers. But before we look deeply into the secret behind the business, we should understand philosophically, what a business is and how it is being evolved…?

Theoretically, the term business comes under the broad context of economics. Because a business is a small unit of an economy. Economics is concerned with the production and consumption of resources created by Allah. So an economy can be simply called as the management of the collectable resources of a geographic description, which is also known as a state or a country. For example Maldives.

We have our own political geography, social geography, and economic geography as well described in the constitution.

Business and economics were theoretically distinguished with the evolution of trade means, with the sudden evolution of the industrial revolution after the Second World War. In the olden days, people used barter system as a means of trade (medium of exchange), which means exchanging one good with the other. During those days some of the natural resources like Gold & Silver, Grain, and Cattle etc… were used as the medium of exchange.

Introduction of mass production and the need for distribution of goods & services to the different parts of the globe during the industrial revolution lead people to think of a simple and carry-able physical object which must be generally accepted by the global population.

So the introduction of paper money, which is later called as currency became the major revolution to global economics. Countries soon considered these currencies as “Legal Tender” which means must be accepted by the general public. No one could ever deny to accept currencies.

These revolutionary changes had boosted the development of the global economic systems and the systematic management of resources started taking its effect in every nation. Distribution of goods & services became easier than ever before. This often led to the development of commerce and industries…

(Patiently wait for part II)