Assignment: “ORIGIN AND EVOLUTION OF BUSINESS”

FROM;

Subject: Business Study Topic: Introduction to Business

Modern trade and business are originated from the civilization of various stages
of human beings. The basic needs of human beings are foods, clothes, medical
treatment, education etc. To fulfil these needs men were involved with business from the
early stage of civilization of human beings. The modern form of business comes from
various stages of evolution. These stages are divided into following periods:

Ancient age

The ancient age of business was started from the beginning of human civilization
and running up to barter system. There is no correct information about the ancient stage
of business. From the investigation and other information, some characteristics of the
business of ancient age can be identified. These are:

 In this stage, human beings were depended on nature. Main occupations were a
collection of fruits from forest and fishing.

 They fulfilled their demand living together and they were depended on the work
of.

 Thus, the part of production and excess of need were exchanged and it was the
introduction of business.

 From these points of view, we can be said this stage as hunting and household.

Middle age

Middle age of business started from the barter system to industrial revolution. In the
middle age, the production and distribution systems were improved. The excess
products were distributed to others. There were some improvements as follows:

 People began to live together that was the vital part of the human civilization.
  Barter systems became very popular and introducing locational production
systems with the establishment of the organization.

 People lived according to their region and the great change in introducing of
currencies.

 They were introduced to the new systems of production and distribution.

 Some of farmers, fishermen and some people of other occupations proved their
efficiency in their own fields.

Modern age

The modern age of business had started from the industrial revolution and still
continues at present. Most of the industrial tools, machines and systems introduced in
this period of business. In the modern age, people felt that the barter system was not
sufficient for them. So the modern systems of business were originated in the modern
age:

 In the modern age currency system was introduced. At first, some stones were
used as the medium of barter system.

 Distribution of money, transfer of money etc were used to play a vital role to
introduce banking system, financial institutions and money markets.

 Different forms of business are introduced in modern time like partnership

business and company business and improved by association/federation
systems.

 In the sixteen century, the cities and the towns became the centre of business. In
this age, the transportation system was improved for the improvement of
business.

In the 19th century, the evolution of production industry in Europe affects the
business. The expansion of business was started from that time. For this reason, many
industrial machineries were invented and not only the transportation systems of the
place were improved but also the marine and our transportation system were improved.
Thus the demand of human beings made the business as the international business.
From the description, it is said that the origin of business that means the modern
business did not come overnight. It comes from the improvement of day to day changes
in the society.