We live in the age of big business, and multinational corporations. But where did it all begin? How did the concept of business emerge in human civilisation? If we consider the history of business, we can see that barter is the most basic form.
There is evidence of barter systems in Neanderthal tribes. Even apes have the concept of barter! Barter as a concept has existed for a very long time, but somewhere down the line the concept of money evolved, and slowly over the centuries, the once basic system of barter became more and more sophisticated.
Today, a business is an entity in itself, not a single individual exchanging goods for other goods! Today, advertising agencies such as oracle advertising and complex marketing strategies are used to promote a business. Resources are spent not just on production, but also on promotion!
From early humans exchanging rudimentary objects to multinational corporations and global markets, business has come a very long way. But today, we also see the biggest losses in the history of business.
Is this because business has become too big and removed from human lives? There is a largely ignored economic theory that small is beautiful when it comes to business. Local businesses and small independent businesses are the way forward.