bussines
courtesy : investopedia
Business
The term business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause. Businesses range in scale from sole proprietorships to international corporations and can range in size from small to large.1
The term business can also be used to define the efforts and activities of individuals to produce and sell goods and services for profit.2
KEY TAKEAWAYS
- A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities.
- Businesses can be for-profit entities or non-profit organizations.
- Business types range from limited liability companies, sole proprietorships, corporations, and partnerships.
- There are businesses that run as small operations in a single industry while others are large operations that spread across many industries around the world.
- Apple and Walmart are two examples of well-known, successful businesses.
Business
Understanding a Business
The term business can take on two different meanings. The first refers to an entity that operates for commercial, industrial, or professional reasons. The entity generally begins with a concept (the idea) and a name. Extensive market research may be required to determine how feasible it is to turn the idea into a business.3
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