Business Definition According to the Experts

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Business is a trading business conducted by a group of people organized for a profit by producing and selling goods or services to meet customer needs.

Entrepreneurs or business people should be able to combine 4 kinds of resources are:

1. Material Resources
2. Human Resources
3. Financial Resources
4. Information Resources

Company nature

Company is dynamic, experienced or a setback in the progress as they move through their life cycle. Changes to the economic and market conditions require a rethinking of corporate strategy and the means of the method used to deal with it.

Business Objectives

Any business or company trying to process materials to be products needed by consumers of products can be goods or services. The company's goal is to make products for a profit, the remuneration derived by a company from providing a product for consumers. 4 factors of production in the company:

1. Natural Resources
2. Human Resources
3. Capital, and
4. Information

Brown and Petrello (1976): "Business is an institution which produces goods and services demanded by people". This means that business is an institution that produces goods and services needed by society. If the community needs increase, the agency also will increase business also developed to meet those needs, while getting a return.

Steinford (1979): "Business is all those activities involved in providing the goods and services needed or desired by people". In this sense as a business activity which provides goods or services required or desired by consumers. Can be done by companies that have the organization a legal entity, the company that owns businesses, and individuals who do not have the legal entities and enterprises such as street vendors, shops that do not have Permit Place of Business (SITU) and Permit Place of Business (SIUP) and other informal businesses.

Griffin and Ebert (1996): "Business is an organization that provides goods or services in order toearn provit". In line with these definitions, business activities through the provision of goods and services aim to generate profit (profit). A firm is said to produce a profit when total revenues in a period (Total Revenues) is greater than the total cost (Total Costs) in the same period. Profit is the main attraction for business activities, so that the business profits can expand its business scale to enhance greater profits.

Hughes and Kapoor: "Business is the organized effort of individuals to produce and sell for a provit, the goods and services that societies Satisfy needs. The general business terms refer to all such efforts within a society or within the industry ". Meaning Business is an individual business activities organized to produce and sell goods and services in order to obtain an advantage in meeting the needs of society and there in the industry. People who seek money and time by taking risks in conducting business activities called Entrepreneur.

Afuah Allan (2004): "Business is a set of activities undertaken to create a way to develop and transform the December power to goods or services that consumers want.

Glos, Steade and Lowry (1996): Business is the sum of all the activities organized by the people who engaged in commerce and industry that provides goods and services to the needs of maintaining and improving standards and quality of their lives.

Musselman and Jackson (1992): An activity that meets the needs and desires of the community economic and organized a company to engage in such activities.

Equation and there are differences in the definition

Equation:

In the definition of business general cited by business experts tend to equal the business is an organized business activities to produce goods or services to meet customer needs. And aims to generate profit (profit), which then is used for profit business or company increase profits even larger.

Differences:

Differences cited definition of business experts are not so prominent. there are only differences in the quote "Hughes and Kapoor" with the others there is the statement "people who seek money and time by taking a risk means that the business risk to be borne by those businesses which gain or loss.

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