A business (also called a company, firm and enterprise) is a
legally recognized organization designed to provide goods
and/or services to consumers.Businesses are predominant in
capitalist economies,most being privately owned and formed to
earn profit that will increase the wealth of its owners and grow
the business itself The owners and operators of a business have
as one of their main objectives the receipt or generation of a
financial return in exchange for work and acceptance of risk.
Notable exceptions include cooperative enterprises and state-
owned enterprises. Socialist systems involve either government
agencies, public ownership, state-ownership or direct worker
ownership of enterprises and assets that would be run as
businesses in a capitalist economy. The distinction between
these institutions and a business is that socialist institutions
often have alternative or additional goals aside from maximizing
or turning a profit.
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 (above) to mean a particular company or corporation, the
generalized usage to refer to a particular market sector, such
as "the music business" and compound forms such as agribusiness,
or the broadest meaning to include 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.
Business Studies, the study of the management of individuals to
maintain collective productivity to accomplish particular
creative and productive goals (usually to generate profit), is
taught as an academic subject in many schools.
(from the wikipedia)
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