Business

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Preferred Term Business
Definition An organization or enterprising entity engaged in commercial, industrial, or professional activities.
Acronym
Explanation The primary purpose of a business is to provide goods or services to customers in exchange for money, with the aim of generating profit. Businesses can vary in size, scope, and structure, ranging from small sole proprietorships to large multinational corporations.

The term 'business' is also used for the primary task activities of an organization, compared to the secondary task activities like IT, building management, finance, human resource management, etc.. In that second meaning, 'the business' equals the primary task domains of the organization.

Alternative Term (Synonym)


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Modification Date 2024-07-13 07:36:37
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