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A business (also known as enterprise or firm) is an organization involved in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to provide service to its customers. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning.
The etymology of "business" relates to the state of being busy either as an individual or society, as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage to mean a particular organization; the generalized usage to refer to a particular market sector, "the music business" and compound forms such as agribusiness; and the broadest meaning, which encompasses all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate and complexity of meanings.
An enterprise can be a large and well-functioning business organization, or two college kids who start a lawn-mowing service for summer work, or a trek into uncharted territory in search of some discovery or riches. What they have in common is that they are all undertakings.
Difficulty
The New Oxford American Dictionary defines "enterprise" as "a project or undertaking, typically one that is difficult or requires effort." Christopher Columbus's mission in search of the "New World" was an enterprise, as was the Lewis and Clark expedition to the American West (especially considering both were funded by government to achieve some economic need).
Entrepreneurship
The New Oxford American Dictionary also defines an enterprise as an entrepreneurial economic activity. Thus, any start-up company (and Microsoft, Google, Facebook and eBay were all those at one point) is an enterprise.
As A Quality
The authors of "Enterprise: Entrepreneurship and Innovation" describe enterprise as the quality of "not standing still." An enterprising person may be an entrepreneur, an "intrapreneur," who drives growth within his company, someone who is innovative in business or someone who seeks knowledge to become self-reliant.
Business
Most typically, the word "enterprise" describes a business or economic entity (whether or not it is entrepreneurial or innovative); hence the use of the terms "enterprise application" to describe software for business, and "Enterprise 2.0" to describe a business that is well connected using Internet technology.
The etymology of "business" relates to the state of being busy either as an individual or society, as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage to mean a particular organization; the generalized usage to refer to a particular market sector, "the music business" and compound forms such as agribusiness; and the broadest meaning, which encompasses all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate and complexity of meanings.
In the computer industry, an enterprise is an organization that uses computers. A word was needed that would encompass corporations, small businesses, non-profit institutions, government bodies, and possibly other kinds of organizations. The term enterprise seemed to do the job. In practice, the term is applied much more often to larger organizations than smaller ones
An enterprise can be a large and well-functioning business organization, or two college kids who start a lawn-mowing service for summer work, or a trek into uncharted territory in search of some discovery or riches. What they have in common is that they are all undertakings.
Difficulty
The New Oxford American Dictionary defines "enterprise" as "a project or undertaking, typically one that is difficult or requires effort." Christopher Columbus's mission in search of the "New World" was an enterprise, as was the Lewis and Clark expedition to the American West (especially considering both were funded by government to achieve some economic need).
The New Oxford American Dictionary also defines an enterprise as an entrepreneurial economic activity. Thus, any start-up company (and Microsoft, Google, Facebook and eBay were all those at one point) is an enterprise.
As A Quality
The authors of "Enterprise: Entrepreneurship and Innovation" describe enterprise as the quality of "not standing still." An enterprising person may be an entrepreneur, an "intrapreneur," who drives growth within his company, someone who is innovative in business or someone who seeks knowledge to become self-reliant.
Business
Most typically, the word "enterprise" describes a business or economic entity (whether or not it is entrepreneurial or innovative); hence the use of the terms "enterprise application" to describe software for business, and "Enterprise 2.0" to describe a business that is well connected using Internet technology.
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