Business term papers

What is a Business?

The term 'business' can have many different meanings but most commonly, it is used to refer to an organization, enterprise, or individual that is engaged in commercial, industrial or professional activities for the purpose of profit or earning a living.

Types of Businesses

Within this definition of business, fall many different types of businesses. These include corporations, cooperatives, partnerships, sole traders, limited liability company, not-for-profit, government-owned, small businesses, business-to-business, business-to-consumer, and more.

Business Majors and Careers in Business

Similarly, students interested in majoring in business can choose from many different types of business majors such as accounting, business management, entrepreneurship, finance and marketing. In keeping with the numerous options open to students of business, there are also several career paths a person with a business degree might choose to follow. Accountant, auditor, actuary, budget analyst, financial examiner, management analyst, market research analyst, financial advisor, and sales manager are just some of the possible career paths open to business majors.

Starting a New Business

Starting a new business requires planning, organization, and financing. First, a need for a service or product has to be identified, financing has to be determined, the business organization has to be established, and licensing and permits have to be acquired. In addition, most new business startups require a business plan, a marketing plan, insurance, and a management plan. Also, strong written and spoken communication skills are essential to all aspects of opening a business from the writing of business plans and marketing plans to the management and organization of the establishment.

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