Related topics: company

A new approach to enterprise risk management

While some organizations can respond to unexpected events, which can span from disruptive technologies and intensified competition to extreme weather events and climate related disasters, most of them cannot, and have a challenging ...

The self-employed hard hit by coronavirus crisis

Self-employed workers' hours have significantly decreased during the coronavirus crisis. Their average hours worked decreased most at the start of the crisis, by more than five hours per week. And it was difficult to return ...

Using Squid Game to teach economics

First year business and economics students all over the world may soon be using Netflix's global smash hit series "Squid Game" to learn complex economic theories.

Forgiveness and well-being at work can boost employee morale

A new theoretical contribution to the research literature published in the International Journal of Business Excellence looks at workplace "forgiveness" and employee wellbeing and happiness. The analysis of the various factors ...

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A business (also called a firm or an 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.

This text uses material from Wikipedia, licensed under CC BY-SA