This document provides an introduction to business and its environment. It defines business as an organized activity that supplies goods and services for profit. It then discusses the need for business in terms of regular supply, optimal resource use, job creation, revenue generation, social welfare, and economic growth. The document outlines the scope of business including industries like manufacturing, construction, and services, as well as commerce elements like trade, retail, wholesale, and financial services. It also discusses the roles and objectives of business for firms, consumers, and society.