Distinguish between employment and profession

ADVERTISEMENTS: This article will help you to differentiate among business, profession and employment. (i) Capital Investment: In business, there is considerable capital investment-depending on the nature of business activity and scale of operations. In a profession, there is moderate capital investment required for furniture, instruments, professional activities etc. In employment, there is no need of capital investment. (ii) Basis of Existence: ADVERTISEMENTS: A business comes into existence as a result of a decision of an individual or a group of individuals to start some business activity. A profession comes into existence as a result of a license to practice received from the Central Representative Organization, regulating the profession. Employment comes into existence as a result of an agreement reached between an employer and an employee. (iii) Nature of Work: Business consists in producing/purchasing goods or providing services of a commercial nature. The nature of work comprised in a profession is rendering of services of a specialized personal nature. In employment, an employee performs duties, as per the agreement of employment. (iv) Qualifications: In a business, there are no prescribed qualifications for the businessman except that he should have enterprising abilities. In a profession, there is a need to acquire minimum educational qualifications and training as prescribed by the apex body regulating the profession. In employment, qualifications of the emplo...

Table of Contents: • • • • • Distinction between Business, Profession and Employment. All you need to know of the key variations among business, profession and employment. Find out about the Distinction between Business, Profession and Employment! Distinction between Business, Profession and Employment Difference # Business: 1. Formation – Born from want to make money. 2. Qualifications – No formal qualifica­tions needed apart from a burning de­sire to (…) Since specialized services need to be made by professional persons, they need to fulfill the minimum academic along with other qualifications prescribed by. Law or through the association that they have to belong to become in a position to practice their profession. Such needs exists for lawyers, engineers, doctors, etc., who practice professions his or her jobs. • Difference between Business, Profession and Employment • Difference # Business: • Difference # Profession: • Difference # Employment: • Difference: Business, Profession and Employment Video advice: DIFFERENCE BETWEEN BUSINESS ,PROFESSION AND EMPLOYMENT Learn about the Difference between Business, Profession and Employment! As an economic activity, business is so familiar to us that it seems almost unnecessary to go back to its literal meaning of ‘being busy’. All occupations require a person to be busy but what really matters for a proper understanding of business is what keeps him busy. Business is known to us by the institutions that conduct it and, therefor...

I am an employment counselor. Well, you can call me a career counselor, as most of people consider me to be it! Every day I interact with people and receive lots of emails from people asking advice about their job, career, and profession. But one thing I have noticed so far is that most of them are actually confused among these three words – ‘ Job, Career, and Profession.’ This is what that made me to write this post! Well, let me first begin by speaking about why your job is not your career? Or, let me jot this in simple words. Why is Job Different from Career? During your course of a career, you would be doing numerous different jobs. I hope this line makes a clear demarcation between the two. What is a Job? A job is a task or practice that is done to earn money. It is not your career, but yes an integral part of your career. It is because the type of job you are doing presently will be influencing your future career path. So, when you decide on a career path, you look for different jobs within its circumference. You go to an interview, decide about the salary, and end up having the job. Hence, the tasks you are doing at that particular time is your job. Probably, in the next 5 years, you would not be doing the current job. But will have the same career path and goal. What is a Career? When you do a series of connected job or employment options one after the other, then this builds up your career path. Your career is not one job, but the series of jobs. During the ...

Article shared by : Everything you need to know about the key differences among business, profession and employment. Learn about the Difference between Business, Profession and Employment! Difference between Business, Profession and Employment Difference # Business: 1. Formation – Born out of desire to make money. 2. Qualifications – No formal qualifica­tions needed other than a burning de­sire to succeed. 3. Membership – Businessmen can become members of an association—vol­untarily. 4. Nature of work – Serve customers well putting re­sources to best use. You need to deliver services at an af­fordable price too. 5. Motive – Make money by meeting customers’ needs. 6. Resources – Put resources to best use always to survive and flour­ish in a competitive environment. 7. Rewards – Profits. 8. Risk and un­certainty – Business environ­ment is risky and full of uncertainties. 9. Transferability of interest- Ownership interest transferable. 10. Code of con­duct – Moral and ethical behaviour born out of inner desire to serve customers well, no formal code exists. Difference # Profession: 1. Formation – Earn a degree and a certificate of prac­tice. 2. Qualifications – Degree, skills, knowledge and ex­pertise in a field required. 3. Membership – Professionals are required to be members of a pro­fessional body reg­ulating their affairs. 4. Nature of work – Serve clients by offending expert ad­vice, quality service and showing genu­ine commitment. 5. Motive – Offer best advice and qual...