What Are Two Characteristics That Define a Business

Profit Generation A key characteristic of any business is the aim to generate profit through selling goods or services.

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Value Creation Businesses must provide value to customers, whether through products, services, or solutions that meet a need.

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Organized Structure Businesses operate with a defined structure, including roles, processes, and systems to ensure efficiency.

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Customer Focus Every business revolves around satisfying customer needs, which is essential for long-term success.

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Resource Management Effective use of resources—such as capital, labor, and technology—ensures a business remains competitive.

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Legal Compliance All businesses must adhere to local and international laws to operate legitimately and ethically.

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