Difference between revisions of "Business (glossary)"
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− | ''<blockquote>A business is an | + | ''<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, | + | 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 | + | 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
(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,
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
SEBoK v. 1.9.1 released 16 October 2018