A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning.
The etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage to mean a particular organization; the generalized usage to refer to a particular market sector, "the music business" and compound forms such as agribusiness; and the broadest meaning, which encompasses all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate and complexity of meanings.
Read more about Business: Basic Forms of Ownership, Classifications, Management, Organization and Government Regulation
Other articles related to "business":
... Hyundai has invested in manufacturing plants in the North America, India, Czech Republic, Pakistan, China and Turkey as well as research and development centers in Europe, Asia, North America, and the Pacific Rim ... In 2004, Hyundai Motor Company had $57.2 billion in sales in South Korea making it the country's second largest corporation, or chaebol ...
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... Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors ...
... The Unification Church's business holdings include the UPI, The Washington Times, and the Tongil Group, one of the largest South Korean business groups or chaebol with business ... In the 1990s, Moon's ownership of major business enterprises, including The Washington Times, the United Press International, and Pyeonghwa Motors was noted in ...
Famous quotes containing the word business:
“After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world.”
—Calvin Coolidge (1872–1933)
“And what if my descendants lose the flower
Through natural declension of the soul,
Through too much business with the passing hour,
Through too much play, or marriage with a fool?”
—William Butler Yeats (1865–1939)
“The business eternally passing thro’ my mind and occupying it exclusively, wipes out at once the recollection of things which have been presented to it but once, and on which it has had no occasion to recur.”
—Thomas Jefferson (1743–1826)