Business vs job? Are you confused about which one is the best for you? In this blog, I have explained a detailed review of business vs job, its meaning, advantages and disadvantages.
Though Decisions regarding them are crucial.
Should a person work under someone and lead a secured life or should it take the risk and start his own company.
That is one question that every teenager who is deciding about his career thinks.
BUSINESS VS JOB-:
However the answer to the question which many people have in mind which is business vs job? Is very diverse, which also means it depends on person to person.
There are two types of career options working under someone or working for yourself.
People working under someone for a specified salary is a job while buying and selling goods for profit in business.
Though both of them have their advantages and disadvantages.
While comparing them (business vs job) Finding the right one might be difficult.
Let us see which one will be the right one for you.
Things to learn-:
- What is a business
- What is a job
- Advantages of doing a business
- Disadvantage of doing a business
- Advantages of doing a job
- Disadvantage of doing a job
1. What is a Business?
A business is Any organization that sells a product or a service. To run a company involves purchasing and selling of goods and services.
It is any commodity or service which a person or group of people sell in the market to earn profit. For example, organizations ranging from a barbershop to a grocery store to a toothpaste manufacturing and many more.
There are 4 types of Businesses.
There are around 2 million companies registered in India and around 1.5 million companies are still active.
However, Microscale industries consists of the majority of the businesses in the country. Ranging from small farmers to pot makers and different other vendors.
These are very small operating firms operating on low costs and very low-profit margins
Small businesses, they barely have business models and they can’t afford to do market research as well. having a shortage of employees and a limited business structure.
Medium-sized has sufficient revenues with decent to good amount of employees. They are companies with a legal structure.
Large scale companies have good brand name, they are successful companies having a strong business plan. Companies like Tesla motors, Google, and Apple are examples.
2. What is a Job?
It is a way of work where an employee is paid to get work done
getting paid to work under someone is a job, however jobs vary a lot, there are many kinds of job.
In fact a Job description is the most important thing while selecting. It is a description of a structural analysis. Job analysis involves the duty, alerts, and responsibilities.
Check out if you want to learn about the top paid jobs In commerce stream
The contents involve 8 things mainly -:
- Job title
- Duties to be performed
- Relation to other jobs
- Nature of supervision
- Tools and Softwares needed
- Working environment
3. Advantages of Doing a Business:
if you want to learn about the advantages and disadvantages in business vs job make sure to be with us till the end.
Freedom – :
Firstly, You are your boss, no one controls you. You are independent enough to make decisions regarding your business firm.
Standard of living -:
Secondly, Since you own a company yourself, it might give you a better lifestyle (not in all cases). Since you are the one who decides all the business decisions.
You might want to spend more time on non-organizational activities, spend some quality time with your family. You might also shift your work from home. With today ‘ s technology it is even easier.
Financial results -:
Thirdly, Since you own your company you may also get better financial rewards, even though you have taken a risk,
In business vs job It gives a chance for you to grow your company and increase your profit which is not possible in a job
Involving in activities gives opportunities for learning and gaining knowledge. Knowledge in various fields.
lastly, Working in the field of preference gives satisfaction to the employees.
You will be able to put your knowledge concerning that field with your skills without any work pressure giving personal satisfaction.
4. Disadvantages of Doing a Business:
Firstly, It is never easy to operate a company. it always involves risk. Though a lot of funds are required to get started in an organization.
Entire savings or even a debt is needed to start a company.
There is always a risk of financial loss if the company does not get profitable
A lot of stress-:
Secondly, In an organization all the other decisions are taken by the employer, there is a lot to worry about already. In fact it can be employee salary, payment, customer problems, product defects, and many more.
Thirdly, An employer may work more than if you had worked for someone else,. of-course you have the opportunity to take the time side aside from the entrepreneurial world. But due to a large workforce many owners get entangled in large working hours a lot of times.
Duty and responsibility for everything-:
Lastly, in the question business vs job, when you start a business, you are accountable for everything, owners might also do the task that they don’t like. That’s not the same for a job
Their founders are the ones doing everything from marketing to sales everything.
5. Advantages of Doing a Job:
Holidays and leaves-:
Firstly, Companies provide sick leaves and annual leaves to their employees. In some cases the company also gives its employees paid leaves.
Since an employee may get leaves annually it can plan out holidays and short trips sometimes.
Secondly, promotion is not guaranteed but an employee does always have a great chance to be promoted faster than part-time employees.
Another advantage is that being a full-time employee, the company looks at you as a long term investment, getting promoted might sound easy but employees have to work hard for it.
An employee get an increase in salary every time you are promoted.
Stock and insurance benefits-:
Thirdly, companies offer stock benefits which means they offer shares of the company if they are happy with the work you do.
Companies also offer different insurances to their employees. These insurances involve health, accidental death, disability, life whereas some companies offer family coverage as well.
All full-time employees have a fixed schedule regarding the hours of work. In most cases it’s 9-5 for a full-time employee.
No one can call you in the last moment and shift your timings of work. This means you are free to plan the rest of your day.
Lastly, Employees get paid for the amount of work they do. there is a fix salary
An employee might get paid on a weekly or a monthly basis, based on that you can plan your expenses
It even save some of your salary for future investments,if you work well, salary is what you will get every time.
learn more from the source
6. Disadvantages of Doing a Job:
Disadvantages of job-:
Firstly, Being an employee, you are always dependant on the employer on the work he gives you to do. employees have to do every work the employee tells to do.
Unlike a business, an employee doesn’t have the freedom to make his own decisions and has to obey the orders of its employer or manager
Secondly, The salary of an employee is always fixed to the amount decided. It is a limited salary, changes are made when there is a promotion or demotion.
Unlike an organization, a salary cant be changed. It is always fixed in nature.
Thirdly, Security is not always necessary in a job. there is always a high chance of getting fired. Since jobs are not permanent, an employee can be replaced by anyone anytime.
No flexible hours-:
Lastly, an employee is supposed to work specific hours every day, and he is paid for that every month, an employee’s working hours can not change. It is usually between 9 – 5.
Check more from the source
|No flexible working hours||Flexible working hours|
|Limited income||No limit on income|
|Dependant on employer||Independent and access to freedom|
|No risk||Total risk|
To conclude things, In this blog, I have mentioned details about the topic business vs job.
There are also many advantages and disadvantages in business vs job.
A business is an organization that sells a product or a service in the market to earn profit.
A job is when you work under someone and you are paid for the work you do by the employer.
This blog also explains the various advantages and disadvantages in complete detail and also explains their meanings
In addition to answering your questions business vs job check out this blog by writing course.
Also learn more about what are the best business schools and what programs they offer.
Check this video below by Sandeep Maheshwari on business vs job.
This is an explained video in Hindi explaining the concepts. MoreoverTheir differences and which one to select.
Business vs Job depends on circumstances. How much risk you are ready to take, salary, and many more have the right knowledge and skill will help you grow your company exponentially
It depends on your area of expertise, the skill you have, and the field in which you have experience. There are different types of jobs, different positions, and responsibilities in each part. Understanding the job description will be very helpful
There are around 36 million registered businesses in India
and about 32 million in the U.S.
the number of businesses worldwide are increasing and are expected to increase even more in the near future