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 ...
... 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 interests world-wide ... In the 1990s, Moon's ownership of major business enterprises, including The Washington Times, the United Press International, and Pyeonghwa Motors was noted in the media ...
... The Faculty of Business and Law offers undergraduate and postgraduate courses as well as executive education in the five following groupings Law, Accounting and Finance ... The Business School was the first in the world to receive AMBA accreditation for its MBA, DBA and Masters in Business Management ...
... Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors ...
... multinational branded venture capital conglomerate company founded by business tycoon Richard Branson ... Its core business areas are travel, entertainment and lifestyle and it consists of more than 400 companies worldwide ... by Companies House, who class it as a holding company however Virgin's business and trading activities date to the 1970s ...
Famous quotes containing the word business:
“History in the making is a very uncertain thing. It might be better to wait till the South American republic has got through with its twenty-fifth revolution before reading much about it. When it is over, some one whose business it is, will be sure to give you in a digested form all that it concerns you to know, and save you trouble, confusion, and time. If you will follow this plan, you will be surprised to find how new and fresh your interest in what you read will become.”
—Anna C. Brackett (1836–1911)
“BOSWELL. But what do you think of supporting a cause which you know to be bad? JOHNSON. “Sir, you do not know it to be good or bad till the Judge determines it.... It is his business to judge; and you are not to be confident in your own opinion that the cause is bad, but to say all you can for your client, and then hear the Judge’s opinion.”
—Samuel Johnson (1709–1784)
“...we shall never be the people we should and might be until we have learned that it is the first and most important business of a nation to protect its women, not by any puling sentimentality of queenship, chivalry or angelhood, but by making it possible for them to earn an honest living.”
—Katharine Pearson Woods (1853–1923)