Definition of Business

Business is something people do for living or earning money, which engaged cash and transaction, and off course, in legal way. Business engaged fulfillment of needs in transaction with value.

In economics, the view of business is little broader. Here business is viewed as a firm or enterprise [because, a formal business activity must be register with the governing body]. And hence, in economics, business is defined as a legally recognized organizational entity within an economically free country designed to provide goods and/or services to customers. [Source: wikipedia]

The word “business” relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work.

In capitalist economies, businesses are predominant and most are privately owned and typically formed to increase the ROI [Return On Investment]. Keeping the main intention in mind [i.e. maximize the profit], it also engaged with some social welfare activities.

Study of Business

Business studies [i.e. BBA, MBA, BBS, B.com, M.com, etc.] is the study of management, finance, marketing, accounting, advertising and other departments of business organizations to sharp the skill of the individuals is taught as an academic subject in many business school.

Business world

Business world consist with big corporate giants to small shop-keepers. It does not matter how is the size of your business. If you are in it, then you are part of it. A thorough business search site is Business.com. You can find thousands of business categories to search.

Organizations are divided into several groups according to their nature of business. National and Multinational corporations are engaged in Local, National or international business. Local business are focused for a particular group of people of a country or territory. While business spread all over the country, then its categorized as National Business. Generally local business have to follow very simple rules and regulations. Its easy to form and run. When the business want to grow, then it have to follow much more rules and regulations of the correspondent country. It have to be incorporated with the Governments body and named Corporation or Company. For international business, it is not necessary to be must Inc.[Incorporation] or Ltd [Private/Public Limited Company]. Any SME also can do that.

…….to be continued.