Business 1

HIGHER SECONDARY CERTIFICATE 2028 Business Studies Group • English Version • Dhaka Education Board Business Organization and Management First Paper Subject Code 277 Complete Chapter Notes Full syllabus • Labelled diagrams • Board style questions Prepared by Md Ahbab Hamid Khan ahbab.dev September 6, 2026

HSC 2028 • Business Organization and Management First Paper • Code 277 1 Contents 1 Concept of Business 7 1.1 Key terms you must be able to define . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 1.2 What business means . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 1.3 Features of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 1.4 Objectives of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 1.5 The scope of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 1.6 Industry and its kinds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 1.7 Commerce, trade and the aids to trade . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 1.8 Direct service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 1.9 Functions of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 1.10 Importance of business in economic development . . . . . . . . . . . . . . . . . . . . . 12 1.11 Business as a way of earning a living . . . . . . . . . . . . . . . . . . . . . . . .

HSC 2028 • Business Organization and Management First Paper • Code 277 2 3 Sole Proprietorship 30 3.1 What this chapter is about . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 3.2 Key terms of this chapter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 3.3 Business on the basis of ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 3.4 What sole proprietorship means . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 3.5 Features of sole proprietorship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 3.6 How a sole proprietorship is formed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 3.7 Capital and unlimited liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 3.8 Importance of sole proprietorship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 3.9 Suitable fields of sole proprietorship . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 3.10 Merits and demerits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 3.11 Why small sole traders stay alive beside big business . . . . . . . . . . . . . . . .