“Business” refers to the economic activity of producing goods or services and engaging in transactions within the market. Specifically, it involves commercial activities conducted by organizations or companies to provide products or services and generate revenue.
While the pursuit of profit is common in business, it also encompasses non-profit organizations and companies with social purposes. Business is a fundamental element of a market economy, involving various aspects such as capital, labor, corporate organization, transactions, marketing, and finance.
Organizations compete in the market, aiming to provide value to customers and generate revenue. Business activities encompass the production and sale of goods or services, advertising, financial strategies, organizational management, and various other elements. Strategic planning and execution are essential for sustained success in the dynamic landscape of business.
