Business

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

Famous quotes containing the word business:

    The business of a novelist is, in my opinion, to create characters first and foremost, and then to set them in the snarl of the human currents of his time, so that there results an accurate permanent record of a phase of human history.
    John Dos Passos (1896–1970)

    Art is the beautiful way of doing things. Science is the effective way of doing things. Business is the economic way of doing things.
    Elbert Hubbard (1856–1915)

    Dishonesty in government is the business of every citizen.... It is not enough to do your own job. There’s no particular virtue in that. Democracy isn’t a gift. It’s a responsibility.
    Dalton Trumbo (1905–1976)