Business
From Open Risk Manual
Revision as of 15:35, 6 February 2024 by Wiki admin (talk | contribs)
Definition
Business. An organization or economic system where goods and services are exchanged for one another or for money. A private law company registered in a national registry.
Every business requires some form of capital investment and customers to whom its output can be sold on a consistent basis in order to make a profit. Businesses can be privately owned, not-for-profit or state-owned.
All businesses operate under one or more operating business models, the blueprints of how resources, providers, clients, partners etc of the business are organized.
