Business

Paper Summary:

The paper discusses the types of businesses in terms of structure and organization and as legal entities. The paper explains how businesses must have controls and plans and highlights the need for them to adapt to technology and modernization.

Outline:
Introduction
Types of Business
Business Plans
Adapting technology
Conclusion

From the Paper:

"The term business is applied to many forms of human activity. The activity in trading things for other things that was desired by a person is probably as old as mankind itself. Barters were probably the first form of business and this prompted Adam Smith to consider all activities in terms of barters. The modern definition of a business is very concise and follows the exact activity that a business engages in. We can agree that a business is "A commercial activity engaged in as a means of livelihood or profit, or an entity which engages in such activities." ("Business: Definition", n. d.)"

Sample of Sources Used:

• Culp, Christopher L. (2001) "The Risk Management Process: Business Strategy and Tactics". Wiley. New York.
• Elkin, Paul. (1998) "Mastering Business Planning and Strategy: The Power of Strategic Thinking" Thorogood. London.
• Hermanson, H; Edwards, James D; Salmonson, Roland F. (1990) "Accounting Principles" McGraw-Hill Companies.
• Muhlfeld, Katrin Susanne. (2004) "Strategic Shifts between Business Types: A Transaction Cost Theory-based ..." DUV.
• N. A. (n. d.) "Business: Definition" Retrieved 12 June, 2008 fromhttp://www.investorwords.com/623/business.html

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