Difference between revisions of "Business (glossary)"

From SEBoK
Jump to navigation Jump to search
m (Text replacement - "SEBoK v. 2.9, released 20 November 2023" to "SEBoK v. 2.10, released 06 May 2024")
 
(25 intermediate revisions by 6 users not shown)
Line 1: Line 1:
''<blockquote>A business is an [[Organization (glossary)|organization]] engaged in the trade of goods or [[Service (glossary)|services]] with consumers or producers.</blockquote>
+
''<blockquote>A business is an organization engaged in the trade of goods, services, or both to consumers.'' (Sullivan and Sheffrin 2003)</blockquote>
  
====Source(s)====
+
===Source===
The above definition is adapted by BKCASE authors from - ''A business is an organization engaged in the trade of goods, services, or both to consumers'' - given in:
+
Sullivan, A. and S.M. Sheffrin. 2003. ''Economics: Principles in Action''. Upper Saddle River, NJ, USA: Pearson Prentice Hall.  
 
 
Sullivan, A.; S. M. Sheffrin. 2003. ''Economics: Principles in Action''. Upper Saddle River, NJ, USA: Pearson Prentice Hall. p. 29. ISBN 0-13-063085-3.
 
  
 
===Discussion===
 
===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.
  
A business may be a commercial company, a not-for-profit organization, or state-owned. Its consumers may be individuals, [[Project (glossary)|projects]], businesses or [[Enterprise (glossary)|enterprises]]. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning. In the context of BKCASE, 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 BKCASE we use "business" to refer to a type of organization, while an [[Enterprise (glossary)]] is a purposeful activity often involving collaboration across organizational boundaries.
 
 
 
 
 
 
 
  
 +
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.
  
 
[[Category:Glossary of Terms]]
 
[[Category:Glossary of Terms]]
  
 
+
<center>'''SEBoK v. 2.10, released 06 May 2024'''</center>
{{5comments}}
 
{{DISQUS}}
 

Latest revision as of 21:48, 2 May 2024

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. 2.10, released 06 May 2024