What Is Business

Business is an economic activity, which is related with continuous and regular production and distribution of goods and services for satisfying human wants.

Brown and Petrello (1976): "Business is an institution which produces goods and services demanded by people". This means that business is an institution that produces goods and services needed by society. If the community needs increase, the agency also will increase business also developed to meet those needs, while getting a return.

Steinford (1979): "Business is all those activities involved in providing the goods and services needed or desired by people". In this sense as a business activity which provides goods or services required or desired by consumers. Can be done by companies that have the organization a legal entity, the company that owns businesses, and individuals who do not have the legal entities and enterprises such as street vendors, shops that do not have Permit Place of Business (SITU) and Permit Place of Business (SIUP) and other informal businesses.

Griffin and Ebert (1996): "Business is an organization that provides goods or services in order toearn provit". In line with these definitions, business activities through the provision of goods and services aim to generate profit (profit). A firm is said to produce a profit when total revenues in a period (Total Revenues) is greater than the total cost (Total Costs) in the same period. Profit is the main attraction for business activities, so that the business profits can expand its business scale to enhance greater profits.

Hughes and Kapoor: "Business is the organized effort of individuals to produce and sell for a provit, the goods and services that societies Satisfy needs. The general business terms refer to all such efforts within a society or within the industry ". Meaning Business is an individual business activities organized to produce and sell goods and services in order to obtain an advantage in meeting the needs of society and there in the industry. People who seek money and time by taking risks in conducting business activities called Entrepreneur.

Afuah Allan (2004): "Business is a set of activities undertaken to create a way to develop and transform the December power to goods or services that consumers want.

Glos, Steade and Lowry (1996): Business is the sum of all the activities organized by the people who engaged in commerce and industry that provides goods and services to the needs of maintaining and improving standards and quality of their lives.

Musselman and Jackson (1992): An activity that meets the needs and desires of the community economic and organized a company to engage in such activities.

Stephenson defines business as, "The regular production or purchase and sale of goods undertaken with an objective of earning profit and acquiring wealth through the satisfaction of human wants."

According to Dicksee, "Business refers to a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf the activity is conducted."

Lewis Henry defines business as, "Human activity directed towards producing or acquiring wealth through buying and selling of goods."

A business, also known as an enterprise or a firm, is an organizationinvolved in the trade of goods, services, or both to consumers. Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange for other goods, services, or money. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as acompany.

Business can refer to a particular organization or, more generally, to an entire market sector, e.g. "the music business". Compound forms such asagribusiness represent subsets of the word's broader meaning, which encompasses all activity by suppliers of goods and services.

All of us need food, clothing and shelter. We also have many other household requirements to be satisfied in our daily lives. We met these requirements from the shopkeeper. The shopkeeper gets from wholesaler. The wholesaler gets from manufacturers. The shopkeeper, the wholesaler, the manufacturer are doing business and therefore they are called as Businessman. Thus, the term business means continuous production and distribution of goods and services with the aim of earning profits under uncertain market conditions.

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Referensi : http://www.businessdictionary.com/definition/business