Business or commerce has great importance; many of the people are going towards starting their own business which is really a good step. Business and Commerce are two different words but have similar meanings, American use the word “Business” while British prefer to use the word “Commerce”. Business and Commerce have exactly the same meaning but this misunderstanding was created by Indian commerce books in which they tried to differentiate between both of them.
There are some branches of Business/Commerce; profession, industry and trade. Profession means the skills, artistry or we can say best in anything. For example if we take the example of singers, so their profession is singing and they are the professionals. Similarly we can take the example of doctors as they are many doctors including child specialists, dermatologists, gynecologists etc. This totally depends on their study and specialty.
Industry can be defined as any systematic economic activity, manufacture or trade. It has kinds like Heavy Industries, Light Industries, Extracting Industries, Analytical Industries, Fabricating Industries and Synthetic Industries. These different kinds of Industry depend on different works they perform like fabricating industry for cutting, treating, weaving, processing, for the dye process and finishing.
Trade is buying and selling and exchange of goods and services. It also has types those are Foreign Trade and Home Trade. Foreign Trade includes Import and Export while Home Trade includes wholesaling and retailing which both means buying and selling.
On another hand we have E-Business, E-Commerce and E-Marketing which are different form of commerce through Internet and web. E-Business allows a company to do its business faster, organized and effectively through internet. Orders, complaints, reminders and promotional activities are made through this. It is used to create a link between management, employees, buyers, sellers, consumers and producers.
E-Commerce is doing business online and includes e-marketing, e-buying and e-selling. Buyers browse the information about products, brands, price set their choice and place order online through different websites and apps. They can even pay online through credit cards or others.
