A business (also known as enterprise or firm) is an organization involved 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 firm:
“It makes us, or it mars us, think on that,
And fix most firm thy resolution.”
—William Shakespeare (15641616)
“Pop Wyman ruled here with a firm but gentle hand; no drunken man was ever served at the bar; no married man was allowed to play at the tables; across the face of the large clock was written Please Dont Swear, and over the orchestra appeared the gentle admonition, Dont Shoot the PianistHes Doing His Damndest.”
—Administration in the State of Colo, U.S. public relief program. Colorado: A Guide to the Highest State (The WPA Guide to Colorado)
“So far we have been going firmly ahead, feeling the firm ground of prejudice glide away beneath our feet which is always rather exhilarating, but what next? You will be waiting for the bit where we bog down, the bit where we take it all back, and sure enough thats going to come but it will take time.”
—J.L. (John Langshaw)