Business
Abusinessis anorganizationwhere peopleworktogether. In a business, people work to make andsellproductsorservices.Other people buy the products and services. The business owner is the person who hires people for work. A business can earn aprofitfor the products and services it offers. The wordbusinesscomes from the wordbusy,and means doing things. It works on regular basis.
Originally, individual trades people were qualified, and they hired assistants. The invention of the joint-stockcompanymeant a new era in business.[1]By this means, some people put up the money ascapital,and others used it to run the business. There is alawwhich says this kind of company is a "legal entity":it has a legal life separate from its owners or shareholders. In this way, a company can outlive the people who started it. This idea was invented inmedievaltimes, but really flowered in the 19th century.[2]It has spread around the world since then.
Most businesses are created forcommerce.There are big andsmall businesses.For example, one person can open a smallbarber-shop. A big business, likeMicrosoft,employs thousands of people all over the world.
Some businesses need fixed locations. Examples are anoffice,store, orfarm.For some businesses the worker goes to different locations. Examples arecarpentersorelectricians.They usually bring everything they need for work in their truck.
Businesscan also mean the work or current state of a business. A business owner might say: "I am doing a lot of business" or "My business is good" or "Business is bad".
The term can also be used in a more general way. As a noun, it can be used, for example, to speak about a broad area of activity.
References
[change|change source]- ↑"Joint Stock Company".West's Encyclopedia of American Law.Retrieved4 May2012.
- ↑Hunt B.C. 1936.The development of the business corporation in England, 1800–1867.Cambridge, MA: Harvard University Press.