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In economics, business is the social science of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals, usually to generate revenue.
The etymology of "business" refers to the state of being busy, in the context of the individual as well as the community or society. In other words, to be busy is to be doing commercially viable and profitable work.
The term "business" has at least three usages, depending on the scope — the general usage (above), the singular usage to refer to a particular company or corporation, and the generalized usage to refer to a particular market sector, such as "the record business," "the computer business," or "the business community" -- the community of suppliers of goods and services.
The singular "business" can be a legally-recognized entity within an economically free society, wherein individuals organize based on expertise and skills to bring about social and technological advancement.
All Business Quality
All Business Quality
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Business Costs
Business Costs can sky rocket out of control, but only if you let them.You have to make sure that you plan accordingly to ensure that you are prepared for those times when the extra cash is needed or when costs may rise. You actually never know when that may be. Extra costs can occur just by a simple rate hike in the electric that your may be using. Supply costs can increase. So, how will you be prepared when these extra costs hit you in the pocketbook? Sometimes just a simple adjustment in your current price schedule can cover the costs; however, constant adjustments may cause you to lose your customer base. It is because of reasons like this that you will need to plan ahead and plan accordingly.
Adjusting for business costs is extremely important to the survival of any business. You must make sure that you set your prices accordingly in the beginning to make sure that you are making enough extra to cover any rises in supply costs to an extent. Sometimes that will just be out of your control. You must pay your employees what your business can afford. Every boss/owner wants to be able to offer a great benefit package and a great salary; however, sometimes it is just not in the books; the accounting books that is.
From Wikipedia, the free encyclopedia
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