financial economics

Work definition

Work definition

Work is defined linguistically as a job and a profession, while terminologically it is the physical effort that a person makes in order to achieve a specific goal that benefits him. Work is also known as the duties imposed on individuals in a profession, and they must apply them in a correct manner. So that they can obtain financial returns within a specific period of time. Another definition of work is the responsibility imposed on an individual to carry out a specific task that requires the implementation of a set of professional, administrative, office, or field activities.

The importance of working

Work has great importance in human life and is summarized in the following points:

  • The work helps enhance the economic growth of countries and increase their domestic production and national income.
  • Work is considered one of the most important components of building societies that helps achieve success for all individuals and maintain the development of their society.
  • Work contributes to making a person obtain his food and drink in a correct manner, within religious and moral controls.
  • Work is necessary to build the individual's personality and make him an effective element capable of providing his needs and the needs of his family.
  • Work enhances the individual's ability to be self-productive, away from dependence on others to obtain his own needs.

Business objectives

The work seeks to achieve a set of goals: Which:

  • Increase profits: It is the main goal of all types of business; Whether commercial, service, or industrial, it depends directly on achieving an increase in its profits, which is considered the basis for its continued presence in the labor market. The higher the percentage of profits, the more this contributes to maintaining work efficiency.
  • Increase investment returns: It is the goal that shares profits in supporting the business; Attracting new investments and ensuring their increase is one of the most important goals that businesses seek. Because returns on investment are the highest financial rates that are achieved very quickly, especially if the available investment has appropriate specifications, such as commercial investments in the field of buying and selling land.
  • Improving market share: One of the main objectives of the work: Every business seeks to improve its market share, by expanding its fields, or opening new branches of the institution, which contributes to increasing its financial value and raising its commercial classification among institutions operating in the market, whether it works in its field or other fields.
  • Support research and development: It is a very important goal for the work, which is based on the idea of ​​supporting research to develop the work environment in the organization. By attracting a group of new ideas, which contribute to the innovation of new services or goods that help increase the development of work.
  • Maintaining cash flows: One of the important financial goals: In order to continue achieving its goals, every business environment depends on a set of cash inspections, which include all operations resulting from achieving profits, especially those based on the sale of bonds, stocks, goods, or participation in projects.

Labor rights

Work generally depends on providing a set of rights for employees and workers during their time at work, and the most important of these rights are:

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  • That the employee be assigned tasks within his ability and capacity; That is, he should not be forced to perform tasks or activities that he cannot perform.
  • Providing a suitable place to work; It contains all occupational safety conditions, and provides protection for employees from exposure to any type of danger.
  • Providing health care to employees during their work period, and helping them obtain appropriate treatments in the event that they are exposed to injuries or diseases that render them unable to perform their jobs in an appropriate manner.
  • Ensuring the employee’s follow-up after his retirement from his job by providing him with a retirement salary that is sufficient for his family’s expenses and helps him maintain a decent life for them.

work fields

The work is divided into the following areas:

  • Commercial field: One of the oldest fields of work, which man has known since ancient times. As people were keen to activate trade exchange between them, whether it relied on land, sea, or air transportation, in order to strengthen their own economy and maintain its continuous development, and with the emergence of commercial companies, this contributed to supporting the commercial field. Trade was diversified and included many commodities and important materials.
  • The agricultural fieldIt is one of the fields of work in which many people work, especially those who live in rural areas. Work in agriculture contributes to providing many basic commodities that cover part of the food needs of society, and is also used in commercial export, which contributes to achieving financial profits.
  • Industrial field: It is work in all types of manual or craft industries that individuals can implement on their own, such as working in their own shops, or within industrial companies that are interested in many industries, such as: manufacturing iron, plastic, aluminum, wood, and others. The industrial field is considered one of the important fields of work.

Conclusion

Work is every means that helps an individual obtain an income that maintains a decent life for himself and his family. Therefore, work is of great importance in human life, which enhances economic growth, contributes to building society, and enables the individual to build his independent personality, which depends on his own effort. Work, in general, seeks to achieve a set of goals that provide profits and support investments and research. Which greatly develops the business sector, and business owners also have to guarantee the rights of their employees and workers, and ensure that they obtain them in full, and work has various fields within commerce, agriculture, and industry, which provide many jobs for individuals.

Read also:What is rent economy?
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