Business Quotes

A business (also known as enterprise or firm) is an organization involved 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.
The efficient and effective operation of a business, and study of this subject, is called management. The major
branches of management are financial management, marketing management, human resource management, strategic
management, production management, operations management, service management and information technology
management.
Owners engage in business administration either directly or indirectly through the employment of managers. Owner
managers, or hired managers administer to three component resources that constitute the business’ value or worth:
financial resources, capital or tangible resources, and human resources. These resources are administered to in at
least five functional areas: legal contracting, manufacturing or service production, marketing, accounting,
financing, and human resourcing.