Category: Business

A business is defined by the IRS as an entity or organization that conducts commercial, professional, or industrial activities for profit. Most businesses are either for-profit organizations or non-for-profit enterprises that conduct to meet a social purpose or further a humanitarian cause. Examples of a business are corporations, partnerships, joint ventures, and unincorporated associations. The sole purpose of a business is to make money. For-Profit Organizations: Under the laws of most states, for-profit businesses may include cooperatives, shops, stores, franchises, and other cooperatives. For-profit businesses have separate taxation from other…

Read More

The first aim of a company is to maximizes profits for its stakeholders or owners while keeping ethical business practice in the process. Such economic value added means that there is often a high primary challenge for an organization to effectively balance the interests of various other external parties affected by the business. These may include employees, suppliers, investors, government officials and regulatory agencies. Thus, for any firm to remain competitive and survive long term in the marketplace, it has to find ways to address and minimize some of these…

Read More

The word business often refers to any organization or entrepreneur engaged in professional, commercial, or agricultural activities for the benefit of others. Businesses may be for-profit corporations or non-profitable organizations that conduct charity activities or further a public social good. The activities of business, therefore, allow for the development of society and the world as a whole. The profits of businesses, therefore, allow the society and the world at large to function properly and for the economic advantage of all individuals. Many types of businesses exist in the world today.…

Read More