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Business Concept

Business refers to any occupation in which people are engaged in activities to earn profits. Read further to know the concept of business.

Author: Sonia Shekar

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The term business is derived from the word busy. Business means being busy but in specific sense, business refers to any occupation in which people are engaged in activities with a goal to earn profit. The activity could involve purchase or production of goods, sale or exchange of goods, supply or provide service to satisfy the needs of other people etc.

The main objective of the business is to earn income or profit through business dealings, hence it is economic activity. Every business operates within the society. It uses the resources of the society and depends on the society for the functioning.

A company is a legal entity according to law and is an artificial person existing in contemplation of law. It cannot act on its own. It can act only through some human agency. The persons who are in charge of the management are termed as directors. Directors take the decision regarding the management of a company.

About Author

Working for a software company and exploring business and technologies.

Fore more company related information, visit http://www.companiesinn.com

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