Difference between revisions of "Business (glossary)"

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''<blockquote>A business is an [[Organization (glossary)|organization]] engaged in the trade of goods, [[Service (glossary)|services]], or both to consumers.'' (Sullivan and Sheffrin 2003)</blockquote>
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''<blockquote>A business is an {{Term|Organization (glossary)|organization}} engaged in the trade of goods, {{Term|Service (glossary)|services}}, or both to consumers.'' (Sullivan and Sheffrin 2003)</blockquote>
  
 
===Source===
 
===Source===
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===Discussion===
 
===Discussion===
A business may be a commercial company, a not-for-profit organization, or state-owned. Its consumers may be individuals, [[Project (glossary)|projects]], other businesses, or [[Enterprise (glossary)|enterprises]].  
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A business may be a commercial company, a not-for-profit organization, or state-owned. Its consumers may be individuals, {{Term|Project (glossary)|projects}}, other businesses, or {{Term|Enterprise (glossary)|enterprises}}.  
  
 
There are many different legal forms of businesses, which vary across political entities. In the context of the SEBoK, the term '''business''' would include a government agency.  
 
There are many different legal forms of businesses, which vary across political entities. In the context of the SEBoK, the term '''business''' would include a government agency.  
  
The word '''enterprise''' is sometimes used synonymously with "business".  However in the SEBoK, a '''business''' is a specific type of enterprise, usually a legal entity with a form of centralized management. An [[Enterprise (glossary)|enterprise]] is a purposeful activity often involving collaboration across organizational boundaries.
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The word '''enterprise''' is sometimes used synonymously with "business".  However in the SEBoK, a '''business''' is a specific type of enterprise, usually a legal entity with a form of centralized management. An {{Term|Enterprise (glossary)|enterprise}} is a purposeful activity often involving collaboration across organizational boundaries.
  
 
[[Category:Glossary of Terms]]
 
[[Category:Glossary of Terms]]
  
 
SEBoK v. 1.9.1 released 16 October 2018
 
SEBoK v. 1.9.1 released 16 October 2018

Revision as of 21:59, 2 October 2019

A business is an organization engaged in the trade of goods, services, or both to consumers. (Sullivan and Sheffrin 2003)

Source

Sullivan, A. and S.M. Sheffrin. 2003. Economics: Principles in Action. Upper Saddle River, NJ, USA: Pearson Prentice Hall.

Discussion

A business may be a commercial company, a not-for-profit organization, or state-owned. Its consumers may be individuals, projects, other businesses, or enterprises.

There are many different legal forms of businesses, which vary across political entities. In the context of the SEBoK, the term business would include a government agency.

The word enterprise is sometimes used synonymously with "business". However in the SEBoK, a business is a specific type of enterprise, usually a legal entity with a form of centralized management. An enterprise is a purposeful activity often involving collaboration across organizational boundaries.

SEBoK v. 1.9.1 released 16 October 2018