Business definition
Business can be defined as all activities from various institutions that produce goods and services that are needed in people's daily lives. Business is the exchange of goods and services, or money, for mutual benefit.
Some definitions of business according to experts:
- Business is a product created to produce goods and services to customers (Jeff Madura, 2001)
- Business as a system that produces goods and services to satisfy people's needs (Huat T Chwee, 1990)
- The business is organized by the people who want to produce and all profit, the goods services that satisfy society needs. The general term of business refers to all efforts within an industry (Hugnes & Kapoor, 2010)
Based on several business definitions above, there are several important elements in the business:
All activities, mean various kinds of activities, such as production, distribution, consumption, and various other activities related to these three activities, such as transportation, purchasing, and others.
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Institutions, agencies or organizations are a set of factors of production, consisting of land, labor, capital and leaders (managers) that produce goods or services, such as companies, hospitals, schools, and various kinds of organizations that exist in society.
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Produce goods and services, which means that there is an output from the institution, both in the form of tangible goods produced by the company, while intangible goods with suggestions, advice, opinions, or ideas are produced by institutions such as education, hospitals, consulting offices, offices lawyer, and so on.
if there is a word or sentence that is wrong please forgive !,
because the author is still in the learning process.
thank you
