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.
Famous quotes containing the word business:
“The business of love is
by our wills,
to live together.”
—William Carlos Williams (18831963)
“Politics is the reflex of the business and industrial world.”
—Emma Goldman (18691940)
“Faultless honesty is a sine qua non of business life. Not alone the honesty according to the moral code and the Bible. When I speak of honesty I refer to the small, hidden, evasive meannesses of our natures. I speak of the honesty of ourselves to ourselves.”
—Alice Foote MacDougall (18671945)