Fundamentals of Business Organisation
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.
Business refers to an economic activity in which people regularly engages in production or purchase of goods for sale, or exchange of goods or supply of services to satisfy the needs of other people with an ultimate motive to earn profits. The word business is derived from the word 'busy'. Thus, "business" relates to the state of being busy.
Business may be in the form of Sole proprietorship, where the owner of the business has the sole authority over the establishment. Partnership, where two or more individuals come together to form a joint business. Corporation, can be organized for profit or service, but is owned by multiple shareholders and is carried by a board of directors and in addition to this we find state owned corporates also. Cooperative, for profit or non profit, is a limited liability entity where shareholders do have decision
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.
Business refers to an economic activity in which people regularly engages in production or purchase of goods for sale, or exchange of goods or supply of services to satisfy the needs of other people with an ultimate motive to earn profits. The word business is derived from the word 'busy'. Thus, "business" relates to the state of being busy.
Business may be in the form of Sole proprietorship, where the owner of the business has the sole authority over the establishment. Partnership, where two or more individuals come together to form a joint business. Corporation, can be organized for profit or service, but is owned by multiple shareholders and is carried by a board of directors and in addition to this we find state owned corporates also. Cooperative, for profit or non profit, is a limited liability entity where shareholders do have decision