Classic Height
A business
(also called a firm or an enterprise) is a legally recognized organization
designed to provide goods and/or services to consumers.[1] 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
businesses and state-owned enterprises. Socialist systems involve either
government agencies, public, or worker ownership of most sizable businesses.
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 in order to accomplish particular creative and
productive goals (usually to generate profit), is taught as an academic
subject in many schools.
