Wednesday, October 14, 2009

What is business?

By Sai Verano

I've been very much close to this term ever since I was born (simply because our family has a business of our own). I've seen how my dad manage people and my mom handles the payroll. It seems like having a business is a pretty tough career. But before we go into the juices of a successful business, let us first define what the term "business" really is.

As for me, when I hear the term "business", I think of money (revenue) and costs. Some may think of firm or enterprise. Some may think of corporations and partnerships. According to Wikipedia.org, a business is "a legally recognized organization designed to provide goods and/or services to consumers". From here we can see some keywords for us to remember this definition, which are:
  • legally recognized
  • organization
  • goods and/or services
  • consumers
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