Firm

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.

Read more about Firm:  Basic Forms of Ownership, Classifications, Management, Organization and Government Regulation

Famous quotes containing the word firm:

    I have this hope in God that he will hear our prayers, given the firm faith we place in him: and that he will accomplish this wish of ours, seeing as it is a moderate one.
    François Rabelais (1494–1553)

    Playing snooker gives you firm hands and helps to build up character. It is the ideal recreation for dedicated nuns.
    Archbishop Luigi Barito (b. 1922)

    “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 Don’t Swear,” and over the orchestra appeared the gentle admonition, “Don’t Shoot the Pianist—He’s 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)