Business involves in the trade of goods,services,or both to consumers.Business can refer to a particular organization,e.g.“company”,“corporation”,or to an entire market sector,e.g.“the music business”,“agribusiness”.

When business refers to an entire market sector,it is usually classified according to its features,for examples:

·Agriculture and mining businesses produce raw material,such as plants or minerals.

·Financial businesses include banks and other companies that generate profits through investment and management of the capital.

·Information businesses generate profits primarily from the sale of intellectual property and include movie studios,publishers and internet and software companies.

Forms of business ownership vary by jurisdiction,but several common forms exist:

· Sole proprietorship: owned by one person and operates for their benefit.The owner may operate the business alone or with other people.A sole proprietor has unlimited liability for all obligations incurred by the business,whether from operating costs or judgement against the business.

·Part nership: A partnership is a business owned by two or more people.In most forms of partnerships,each partner has unlimited liability for the debts incurred by the business.The three most prevalent types of for-profit partnerships are general partnerships,limited partnerships,and limited liability partnerships.

·Corporation: The owners of a corporation have limited liability and the business has a separate legal personality from its owners.Corporations can be either government-owned or privately owned.They can organize either for profit or as not-for-profit organizations.A privately owned,for-profit corporation is owned by its shareholders,who elect a board of directors to direct the corporation and hire its managerial staff.A privately owned,for-profit corporation can be either privately held by a small group of individuals,or publicly held,with publicly traded shares listed on a stock exchange.

·Cooperative: Often referred to as a“co-op”,a cooperative is a limited liability business that can organize for-profit or not-for-profit.A cooperative differs from a corporation in that it has members,not shareholders,and they share decision-making authority.Cooperatives are typically classified as either consumer cooperatives or worker cooperatives.Cooperatives are fundamental to the ideology of economic democracy.

Owners may administer their businesses themselves,or employ managers to do this for them.The efficient and effective operation of a business,and study of this subject,is called management.The major branches of management are organization&HR management,production and service management,financial and marketing management,legal and strategic management. WDc507k98LVjpF0UbOkV8xR6Rrq4QIGHJSjbbqiIlW/TsTv+oOnzd0LQwupffrgc