• • • A business (also known as an enterprise, a company, or a firm) is an and made up of an of people, be they,, or a mixture of both who share a common purpose and unite in order to focus their various and organize their collectively available or to achieve specific declared and are involved in the provision of and to. A business can also be described as an organisation that provides goods and services for human needs. A company or association of persons can be created at as legal person so that the company in itself can accept for civil responsibility and taxation incurred as members perform (or fail) to discharge their within the. Because companies are legal persons, they also may associate and register themselves as companies – often known as a. When the company closes it may need a to avoid further legal obligations. Businesses serve as conductors of economic activity, and are prevalent in, where most of them are and provide through a to and in for other goods, services, money, or other forms of exchange that hold intrinsic.

Businesses may also be social enterprises or public enterprises operated by governments with specific social and economic objectives. A business owned by multiple private individuals may form as an company or jointly organized as a partnership. Countries have different laws that may ascribe different rights to the. The word 'business' can refer to a particular organization or to an entire (for example, 'the finance business' is 'the financial sector') or to all economic sectors collectively ('the '). Compound forms such as ' represent subsets of the concept's broader meaning, which encompasses all activity by suppliers of goods and services. Typically private-sector businesses aim to, although in some contexts they may aim to maximize their or their. Government-run businesses may aim to maximize some measure of.

Global business environment. A LOOK AHEAD. Part 2, encompassing Chapters 2, 3, and 4, introduces us to different national business environments. Chapter 2 describes impor. Shoe producer Nike (www.nike.com), and electronics maker Sony (www.sony.com) are just a few. Today's Globalization in Context. Andrew Harrison has expertly authored this engaging text on the business environment, offering theoretical rigour, along with a truly global focus, and an understanding of the economic dimensions of the subject.

Contents • • • • • • • • • • • • • • • • • • • Etymology [ ] The English word company has its origins in the military term campaign (first recorded in 1150), meaning a 'body of soldiers', and originally from the word companio 'companion, one who eats bread [ pane] with you', first attested in the as a calque of the expression * gahlaibo (literally, 'with bread'), related to galeipo 'companion' and gahlaiba 'messmate'. By 1303, the word referred to. Usage of company to mean 'business association' was first recorded in 1553, [ ] and the abbreviation 'co.'

Dates from 1769. The Old English signs (Northumbrian) 'care, anxiety, occupation,' from being 'careful, anxious, busy, occupied, diligent' (see busy (adj.)) + -ness. Middle English sense of 'state of being much occupied or engaged' (mid-14c.) is obsolete, replaced by busyness. The sense of 'a person's work, occupation' is first recorded late 14c. (in late Old English big (adj.) appears as a noun in the sense 'occupation, state of employment').

Meaning 'what one is about at the moment' is from the 1590s. The sense of 'trade, commercial engagements' is first attested 1727. Main article: Forms of business ownership vary by, but several common entities exist: • Sole proprietorship: A, also known as a sole trader, is owned by one person and operates for their benefit. The owner operates the business alone and may hire. A sole proprietor has unlimited for all obligations incurred by the business, whether from or against the business. All of the business belong to a sole proprietor, including, for example, computer infrastructure, any, equipment, or, as well as any owned by the sole proprietor. • Partnership: A is a business owned by two or more people.

In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. The three most prevalent types of for-profit partnerships are:,, and. • Corporation: The owners of a have and the business has a separate from its owners. Corporations can be either or privately owned. They can organize either for profit or as. A privately owned, for-profit corporation is owned by its, who elect a to direct the corporation and hire its managerial staff.

A privately owned, for-profit corporation can be either by a small group of individuals, or, with publicly traded listed on a. • Cooperative: Often referred to as a 'co-op', a is a limited-liability business that can organize as for-profit or not-for-profit.

A cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority. Cooperatives are typically classified as either. Cooperatives are fundamental to the ideology of. •, limited liability partnerships, and other specific types of business organization protect their owners or shareholders from by doing business under a separate legal entity with certain legal protections.

In contrast, unincorporated businesses or persons working on their own are usually not as protected. • Franchises: A is a system in which entrepreneurs purchase the rights to open and run a business from a larger corporation. Franchising in the United States is widespread and is a major economic powerhouse. One out of twelve retail businesses in the United States are franchised and 8 million people are employed in a franchised business. Commonly used where companies are formed for noncommercial purposes, such as clubs or charities. The members guarantee the payment of certain (usually nominal) amounts if the company goes into, but otherwise, they have no economic rights in relation to the company. Ufc Undisputed 3 Caf Max Stats Download Firefox. This type of company is common in.

A company limited by guarantee may be with or without having. The most common form of the company used for business ventures. Specifically, a limited company is a 'company in which the liability of each shareholder is limited to the amount individually invested' with corporations being 'the most common example of a limited company.' This type of company is common in and many English-speaking countries.

A company limited by shares may be a • or a •. • A company limited by guarantee with a share capital.

A hybrid entity, usually used where the company is formed for noncommercial purposes, but the activities of the company are partly funded by investors who expect a return. This type of company may no longer be formed in the UK, although provisions still exist in law for them to exist. 'A company—statutorily authorized in certain states—that is characterized by limited liability, management by members or managers, and limitations on ownership transfer', i.e., L.L.C.

LLC structure has been called 'hybrid' in that it 'combines the characteristics of a corporation and of a partnership or sole proprietorship'. Like a corporation, it has limited liability for members of the company, and like a partnership it has 'flow-through taxation to the members' and must be 'dissolved upon the death or bankruptcy of a member'. • An with or without a share capital. A hybrid entity, a company where the liability of members or shareholders for the debts (if any) of the company are not limited. In this case doctrine of a veil of incorporation does not apply. Less common types of companies are: • Companies formed by letters patent.

Most corporations by letters patent are and not companies as the term is commonly understood today. Before the passing of modern companies legislation, these were the only types of companies. Now they are relatively rare, except for very old companies that still survive (of which there are still many, particularly many British banks), or modern societies that fulfill a quasi-regulatory function (for example, the is a corporation formed by a modern charter). • Statutory companies. Relatively rare today, certain companies have been formed by a private statute passed in the relevant jurisdiction.

Note that 'Ltd after the company's name signifies limited company, and PLC () indicates that its shares are widely held.' [ ] In legal parlance, the owners of a company are normally referred to as the 'members'. In a company limited or unlimited by shares (formed or incorporated with a share capital), this will be the. In a company limited by guarantee, this will be the guarantors. Some have created special forms of in a bid to attract business for their jurisdictions.

Examples include ' and restricted purpose companies. There are, however, many, many sub-categories of types of company that can be formed in various jurisdictions in the world. Companies are also sometimes distinguished for legal and regulatory purposes between and. Public companies are companies whose shares can be publicly traded, often (although not always) on a which imposes / as to the issued shares, the trading of shares and future issue of shares to help bolster the reputation of the exchange or particular market of an exchange. Private companies do not have publicly traded shares, and often contain restrictions on transfers of shares.

In some jurisdictions, private companies have maximum numbers of shareholders. A is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company.

The definition of a parent company differs by jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. Classifications [ ]. Main article: •, such as the domestication of fish, animals and livestock, as well as, and businesses that extract natural resources and raw materials, such as,,,, plants. • businesses include,,,,, and such as,,,,,,, and,, and other companies that generate profits through investment and management of. • companies and agencies generate profits primarily from the sale of. They include and, mass media companies such as, online agencies,, outlets,, and houses.

• Industrial produce, either from or from component parts, then export the finished products at a. They include such as,,,,. • businesses sell, invest, construct and develop, including, residential, and other buildings. •,, and act as middlemen and get goods produced by manufacturers to the intended consumers; they make their profits by marking up their prices. Most stores and catalog companies are distributors or retailers.

• businesses such as,, that deliver goods and individuals to their destinations for a fee. • produce such as,,. These industries are usually operated under the charge of a public.

• offer intangible goods or services and typically charge for labor or other services provided to, to, or to other businesses. Interior decorators, beauticians, hairstylists, make-up artists, tanning salons, laundromats, dry cleaners, and pest controllers are service businesses. Activities [ ] Accounting [ ].

Main article: Accounting is the measurement, processing and communication of financial information about such as and. The modern field was established by the mathematician in 1494.

Accounting, which has been called the 'language of business', measures the results of an organization's economic activities and conveys this information to a variety of users, including,,, and. Practitioners of accounting are known as. The terms 'accounting' and 'financial reporting' are often used as synonyms.

Kitchenaid Refrigerator Ice Maker Repair Manual. See also: The efficient and effective, and study of this subject, is called. The major branches of management are, management,,,,,, and. [ ] Owners may manage their businesses themselves, or employ managers to do so for them. Whether they are owners or employees, managers administer three primary components of the business' value: financial resources, capital (tangible resources), and human resources.

These resources are administered in at least five functional areas: legal contracting, manufacturing or service production, marketing, accounting, financing, and human resources. [ ] Restructuring state enterprises [ ] In recent decades, states modeled some of their and enterprises after business enterprises. In 2003, for example, the modeled 80% of its on a company-type management system. Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets. Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. BPM attempts to improve processes continuously.

It can, therefore, be described as a 'process optimization process'. It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach.

[ ] Organization and regulation [ ]. See also: Most legal specify the forms of ownership that a business can take, creating a body of for each type. The major factors affecting how a business is organized are usually: • The size and scope of the business firm and its structure, management, and ownership, broadly analyzed in the. Generally, a smaller business is more flexible, while larger businesses, or those with wider ownership or more formal structures, will usually tend to be organized as corporations or (less often) partnerships. In addition, a business that wishes to raise money on a or to be owned by a wide range of people will often be required to adopt a specific legal form to do so. • The sector and country. Private profit-making businesses are different from government-owned bodies.

In some countries, certain businesses are legally obliged to be organized in certain ways. Different structures are treated differently in tax law and may have advantages for this reason. • Disclosure and compliance requirements. Different business structures may be required to make less or more information public (or report it to relevant authorities) and may be bound to comply with different rules and regulations. Many businesses are operated through a separate entity such as a corporation or a partnership (either formed with or without limited liability). Most legal jurisdictions allow people to organize such an entity by filing certain charter documents with the relevant Secretary of State or equivalent and complying with certain other ongoing obligations. The relationships and legal rights of, limited partners, or members are governed partly by the charter documents and partly by the law of the jurisdiction where the entity is organized.

Generally speaking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited liability company are shielded from for the debts and obligations of the entity, which is legally treated as a separate 'person'. This means that unless there is misconduct, the owner's own possessions are strongly protected in law if the business does not succeed. Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership.

The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where the partnership is located. No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located.

A single person who owns and runs a business is commonly known as a sole proprietor, whether that person owns it directly or through a formally organized entity. Depending on the business needs, an adviser can decide what kind is proprietorship will be most suitable. A few relevant factors to consider in deciding how to operate a business include: • General partners in a partnership (other than a limited liability partnership), plus anyone who personally owns and operates a business without creating a separate legal entity, are personally liable for the debts and obligations of the business. • Generally, corporations are required to pay tax just like 'real' people. In some tax systems, this can give rise to so-called, because first the corporation pays tax on the profit, and then when the corporation distributes its profits to its owners, individuals have to include dividends in their income when they complete their personal tax returns, at which point a second layer of income tax is imposed.

• In most countries, there are laws which treat small corporations differently from large ones. They may be exempt from certain legal filing requirements or labor laws, have simplified procedures in specialized areas, and have simplified, advantageous, or slightly different tax treatment. • 'Going public' through a process known as an (IPO) means that part of the business will be owned by members of the public. This requires the organization as a distinct entity, to disclose information to the public, and adhering to a tighter set of laws and procedures. Most public entities are corporations that have sold shares, but increasingly there are also public that sell units (sometimes also called shares), and other more exotic entities as well, such as, for example, in the USA, and in the UK. A general partnership cannot 'go public'.

Commercial law [ ]. In the Downtown Financial District A very detailed and well-established body of rules that evolved over a very long period of time applies to commercial transactions. The need to regulate trade and commerce and resolve business disputes helped shape the creation of law and courts. The dates back to about 1772 BC for example, and contains provisions that relate, among other matters, to costs and dealings between merchants and. The word 'corporation' derives from the Latin corpus, meaning body, and the in Iron-Age India accorded legal rights to business entities. In many countries, it is difficult to compile all the laws that can affect a business into a single reference source. Laws can govern treatment of labour and employee relations,, discrimination on the basis of age, gender, disability, race, and in some jurisdictions, sexual orientation, and the minimum wage, as well as, worker compensation, and working hours and leave.

Some specialized businesses may also require licenses, either due to laws governing entry into certain trades, occupations or professions, that require special education or to raise revenue for local governments. Professions that require special licenses include law, medicine, piloting aircraft, selling liquor, radio broadcasting, selling investment securities, selling used cars, and roofing. Local jurisdictions may also require special licenses and taxes just to operate a business.

Some businesses are subject to ongoing special regulation, for example,, investment securities, banking, insurance,,, and health care providers. Environmental regulations are also very complex and can affect many businesses.

In, Mexico City When businesses need to raise money (called ), they sometimes offer for sale. Capital may be raised through private means, by an or IPO on a, or in other ways. Major stock exchanges include the Shanghai Stock Exchange, Singapore Exchange, Hong Kong Stock Exchange, and (the USA), the (UK), the (Japan), and (India).

Most countries with capital markets have at least one. Businesses that have gone public are subject to regulations concerning their internal governance, such as how executive officers' compensation is determined, and when and how information is disclosed to shareholders and to the public. In the United States, these regulations are primarily implemented and enforced by the United States Securities and Exchange Commission (SEC). Other western nations have comparable regulatory bodies. The regulations are implemented and enforced by the China Securities Regulation Commission (CSRC) in China.

In Singapore, the regulatory authority is the Monetary Authority of Singapore (MAS), and in Hong Kong, it is the Securities and Futures Commission (SFC). The proliferation and increasing complexity of the laws governing business have forced increasing specialization in corporate law. It is not unheard of for certain kinds of corporate transactions to require a team of five to ten attorneys due to sprawling regulation.

Commercial law spans general corporate law, employment and labor law, health-care law, securities law, mergers and acquisitions, tax law, employee benefit plans, food and drug regulation, intellectual property law on copyrights, patents, trademarks, telecommunications law, and financing. Other types of capital sourcing include crowdsourcing on the Internet, venture capital, bank loans, and debentures. Intellectual property [ ]. Main article: Businesses often have important ' that needs protection from competitors for the company to stay profitable. This could require,,, or preservation of.

Most businesses have names, logos, and similar branding techniques that could benefit from trademarking. Patents and copyrights in the United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors. Many countries are signatories to international concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. In order to protect trade secrets, companies may require employees to sign noncompete clauses which will impose limitations on an employee's interactions with stakeholders, and competitors. Trade union [ ].

Main article: A trade union (or labor union) is an who have come together to achieve common goals such as protecting the integrity of its trade, improving safety standards, achieving higher pay and benefits such as health care and retirement, increasing the number of employees an employer assigns to complete the work, and better. The trade union, through its leadership, bargains with the employer on behalf of union members ( members) and negotiates () with employers. The most common purpose of these associations or unions is 'maintaining or improving the conditions of their '. This may include the negotiation of, work rules, complaint procedures, rules governing hiring, firing, and promotion of workers, benefits, and policies. See also [ ] •. •; Sheffrin, Steven M.

Economics: Principles in Action. Upper Saddle River, New Jersey: Pearson Prentice Hall. • Compare:; Stafford, George (2010). '1: Strategic Market Management: An Introduction and Overview'..

Joliet, Il: John Bay. Retrieved 2016-11-10. What is a business? What is a business strategy? Having groups of managers provide answers to these basic questions shows that there is little consensus as to what these basic terms mean. [.] A business is generally an organizational unit that has (or should have) a defined strategy and a manager with sales and responsibility.

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