Business (glossary)

A business is an organization engaged in the trade of goods or services with consumers or producers.

Source(s)

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.; S. M. Sheffrin. 2003. Economics: Principles in Action. Upper Saddle River, NJ, USA: Pearson Prentice Hall. p. 29. ISBN 0-13-063085-3.

Discussion

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

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 is a purposeful activity often involving collaboration across organizational boundaries.

SEBoK v. 1.9.1 released 30 September 2018

SEBoK Discussion

Please provide your comments and feedback on the SEBoK below. You will need to log in to DISQUS using an existing account (e.g. Yahoo, Google, Facebook, Twitter, etc.) or create a DISQUS account. Simply type your comment in the text field below and DISQUS will guide you through the login or registration steps. Feedback will be archived and used for future updates to the SEBoK. If you provided a comment that is no longer listed, that comment has been adjudicated. You can view adjudication for comments submitted prior to SEBoK v. 1.0 at SEBoK Review and Adjudication. Later comments are addressed and changes are summarized in the Letter from the Editor and Acknowledgements and Release History.

If you would like to provide edits on this article, recommend new content, or make comments on the SEBoK as a whole, please see the SEBoK Sandbox.

blog comments powered by Disqus