Business
From Wikipedia, the free encyclopedia
For other uses, see Business (disambiguation).
"Firm" redirects here. For other uses, see The Firm.
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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.
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[edit] Basic forms of ownership
Although forms of business ownership vary by jurisdiction, several common forms exist:- Sole proprietorship: A sole proprietorship is a business owned by one person for-profit. The owner may operate the business alone or may employ others. The owner of the business has unlimited liability for the debts incurred by the business.
- Partnership: 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 typical classifications of for-profit partnerships are general partnerships, limited partnerships, and limited liability partnerships.
- Corporation: A corporation is a limited liability business that has a separate legal personality from its members. Corporations can be either government-owned or privately owned, and corporations can organize either for-profit or not-for-profit. A privately owned, for-profit corporation is owned by 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 or publicly held.
- 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 for-profit corporation in that it has members, as opposed to shareholders, who share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy.
[edit] Classifications
- Agriculture and mining businesses are concerned with the production of raw material, such as plants or minerals.
- Financial businesses include banks and other companies that generate profit through investment and management of capital.
- Information businesses generate profits primarily from the resale of intellectual property and include movie studios, publishers and packaged software companies.
- Manufacturers produce products, from raw materials or component parts, which they then sell at a profit. Companies that make physical goods, such as cars or pipes, are considered manufacturers.
- Real estate businesses generate profit from the selling, renting, and development of properties comprising land, residential homes, and other kinds of buildings.
- Retailers and distributors act as middle-men in getting goods produced by manufacturers to the intended consumer, generating a profit as a result of providing sales or distribution services. Most consumer-oriented stores and catalog companies are distributors or retailers.
- Service businesses offer intangible goods or services and typically generate a profit by charging for labor or other services provided to government, other businesses, or consumers. Organizations ranging from house decorators to consulting firms, restaurants, and even entertainers are types of service businesses.
- Transportation businesses deliver goods and individuals from location to location, generating a profit on the transportation costs.
- Utilities produce public services such as electricity or sewage treatment, usually under a government charter.
[edit] Management
Main article: Management
The efficient and effective operation of a business, and study of this subject, is called management. The major branches of management are financial management, marketing management, human resource management, strategic management, production management, operations management, service management and information technology management.[citation needed]Owners engage in business administration either directly or indirectly through the employment of managers. Owner managers, or hired managers administer to three component resources that constitute the business' value or worth: financial resources, capital or tangible resources, and human resources. These resources are administered to in at least five functional areas: legal contracting, manufacturing or service production, marketing, accounting, financing, and human resourcing.[citation needed]
[edit] Reforming state enterprises
In recent decades, assets and enterprises that were run by various states have been modeled after business enterprises. In 2003, the People's Republic of China reformed 80% of its state-owned enterprises and modeled them on a company-type management system.[2] Many state institutions and enterprises in China and Russia have been transformed into joint-stock companies, with part of their shares being listed on public stock markets.Business process management (BPM) is a holistic management approach[1] focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to improve processes continuously. It can therefore be described as a "process optimization process." It is argued that BPM enables organizations to be more efficient, more effective and more capable of change than a functionally focused, traditional hierarchical management approach.
[edit] Organization and government regulation
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 | The examples and perspective in this section may not represent a worldwide view of the subject. (May 2009) |
Main article: Theory of the firm
Most legal jurisdictions specify the forms of ownership that a business can take, creating a body of commercial law for each type.The major factors affecting how a business is organized are usually:
- The size and scope of the business firm and its structure, management, and ownership, broadly analyzed in the theory of the firm. Generally a smaller business is more flexible, while larger businesses, or those with wider ownership or more formal structures, will usually tend to be organized as corporations or (less often) partnerships. In addition, a business that wishes to raise money on a stock market or to be owned by a wide range of people will often be required to adopt a specific legal form to do so.
- The sector and country. Private profit-making businesses are different from government-owned bodies. In some countries, certain businesses are legally obliged to be organized in certain ways.
- Limited Liability Companies (LLC), limited liability partnerships, and other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections. In contrast, unincorporated businesses or persons working on their own are usually not so protected.
- Tax advantages. Different structures are treated differently in tax law, and may have advantages for this reason.
- Disclosure and compliance requirements. Different business structures may be required to make less or more information public (or report it to relevant authorities), and may be bound to comply with different rules and regulations.
Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership. The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where the partnership is located. No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located.
A single person who owns and runs a business is commonly known as a sole proprietor, whether that person owns it directly or through a formally organized entity.
A few relevant factors to consider in deciding how to operate a business include:
- General partners in a partnership (other than a limited liability partnership), plus anyone who personally owns and operates a business without creating a separate legal entity, are personally liable for the debts and obligations of the business.
- Generally, corporations are required to pay tax just like "real" people. In some tax systems, this can give rise to so-called double taxation, because first the corporation pays tax on the profit, and then when the corporation distributes its profits to its owners, individuals have to include dividends in their income when they complete their personal tax returns, at which point a second layer of income tax is imposed.
- In most countries, there are laws which treat small corporations differently than large ones. They may be exempt from certain legal filing requirements or labor laws, have simplified procedures in specialized areas, and have simplified, advantageous, or slightly different tax treatment.
- To "go public" (sometimes called IPO) -- which basically means to allow a part of the business to be owned by a wider range of investors or the public in general—you must organize a separate entity, which is usually required to comply with a tighter set of laws and procedures. Most public entities are corporations that have sold shares, but increasingly there are also public LLCs that sell units (sometimes also called shares), and other more exotic entities as well (for example, real estate investment trusts in the USA, unit trusts in the UK). However, you cannot take a general partnership "public."
[edit] Commercial law
Main article: Commercial law
As for other laws that regulate or impact businesses, in many countries it is all but impossible to chronicle them all in a single reference source. There are laws governing treatment of labour and generally relations with employees, safety and protection issues (Health and Safety), anti-discrimination laws (age, gender, disabilities, race, and in some jurisdictions, sexual orientation), minimum wage laws, union laws, workers compensation laws, and annual vacation or working hours time.
In some specialized businesses, there may also be licenses required, either due to special laws that govern entry into certain trades, occupations or professions, which may require special education, or by local governments. Professions that require special licenses range from law and medicine to flying airplanes to selling liquor to radio broadcasting to selling investment securities to selling used cars to roofing. Local jurisdictions may also require special licenses and taxes just to operate a business without regard to the type of business involved.
Some businesses are subject to ongoing special regulation. These industries include, for example, public utilities, investment securities, banking, insurance, broadcasting, aviation, and health care providers. Environmental regulations are also very complex and can impact many kinds of businesses in unexpected ways.
[edit] Capital
Capital may be raised through private means, by public offer (IPO) on a stock exchange, or in many other ways. Major stock exchanges include the Shanghai Stock Exchange, Singapore Exchange, Hong Kong Stock Exchange, New York Stock Exchange and Nasdaq (USA), the London Stock Exchange (UK), the Tokyo Stock Exchange (Japan), Bombay Stock Exchange(India) and so on. Most countries with capital markets have at least one.
Businesses that have gone "public" are subject to extremely detailed and complicated regulation about their internal governance (such as how executive officers' compensation is determined) and when and how information is disclosed to the public and their shareholders. In the United States, these regulations are primarily implemented and enforced by the United States Securities and Exchange Commission (SEC). Other Western nations have comparable regulatory bodies. The regulations are implemented and enforced by the China Securities Regulation Commission (CSRC), in China. In Singapore, the regulation authority is Monetary Authority of Singapore (MAS), and in Hong Kong, it is Securities and Futures Commission (SFC).
As noted at the beginning, it is impossible to enumerate all of the types of laws and regulations that impact on business today. In fact, these laws have become so numerous and complex, that no business lawyer can learn them all, forcing increasing specialization among corporate attorneys. It is not unheard of for teams of 5 to 10 attorneys to be required to handle certain kinds of corporate transactions, due to the sprawling nature of modern regulation. Commercial law spans general corporate law, employment and labor law, health-care law, securities law, M&A law (who specialize in acquisitions), tax law, ERISA law (ERISA in the United States governs employee benefit plans), food and drug regulatory law, intellectual property law (specializing in copyrights, patents, trademarks and such), telecommunications law, and more.
[edit] Intellectual property
Businesses often have important "intellectual property" that needs protection from competitors for the company to stay profitable. This could require patents, copyrights, trademarks or preservation of trade secrets. Most businesses have names, logos and similar branding techniques that could benefit from trademarking. Patents and copyrights in the United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors. Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. In order to protect trade secrets, companies may require employees to sign non-compete clauses which will impose limitations on an employees interactions with stakeholders, and competitors.[edit] See Not also IBM
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La Clé des champs
| 2011 81 min. |
| (La Llave de los campos ) |
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Cine colombiano, en el Teatro Salamandra
Este miércoles 17 de octubre, el Teatro Salamandra del Barco Ebrio, una de las salas concertadas de la Secretaría de Cultura y Turismo de Cali, presentará en su ciclo de cine colombiano, la película ‘La primera noche’. Es dirigida por Luis Alberto Restrepo.
La cinta cuenta la historia de una pareja de campesinos que han sido desplazados de su tierra –una zona selvática, aislada del mundo, en la que han vivido su niñez y su juventud– y han sido brutalmente lanzados a enfrentarse a las calles de una ciudad desconocida, enorme y despiadada.
El conflicto del país condena a Toño y Paulina, los protagonistas de la trama, al destierro, pero ellos viven otra situación que los atormenta. “El sufrimiento, la desilusión, el desengaño amoroso anidan en su interior. Cada uno de ellos se siente como si estuviera solo, incapaz de asumir el dolor del otro,y mucho menos de verse como parte de una pareja. La pasión podría abrir la puerta que nadie está dispuesto a abrirles, pero Toño y Paulina encuentran en el amor una fuerza que los repele y no les ayuda a sobrevivir”, dicen los promotores.
La película ha recibido los premios Ópera Prima, Mejor Actor y Mejor Fotografía Festival de Cartagena, 2003; Primer Premio de la OCCLACC, Festival de Mar del Plata 2003; Mejor Película -Festival de Moscú 2003, y Premio Nacional 2003 al Mejor Director.
Mayores informes: Teatro Salamandra, en la carrera 36 # 4A–31, del barrio San Fernando Viejo.
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Universidad Fernando Noveno
La organización del IV Festival Internacional de Cine de Cali convoca a los medios de comunicación a acreditarse para cubrir este certamen que atraerá las miradas a partir del miércoles 24 de octubre, cuando se llevará a cabo el lanzamiento. El acto se hará en el salón Cali del Hotel Intercontinental, a las 9:00 de la mañana.
Ese día se espera la presencia del alcalde de Cali, Rodrigo Guerrero Velasco; de la secretaria de Cultura y Turismo, María Helena Quiñónez, y del cineasta y director artístico Luis Ospina. Todos ellos se referirán a los pormenores de esta programación, que se cumplirá del 8 al 12 de noviembre en distintos escenarios de la ciudad.
Mónica Sánchez, coordinadora del festival, destacó la realización del promocional de este certamen, el cual fue realizado por el equipo de creativos de la Secretaría de Cultura y Turismo de Cali. Lo integran Alex Camacho, en la realización; Pablo Castillo, en la dirección de fotografía; Diego Tabares, en el Diseño; Robinson Carmona, en la producción, y Octavio Cruz, en la edición.
“Este promocional trabaja un concepto muy citadino, intentando realizar en muy poco tiempo registros de cartografía urbana. Se aplica mucha luz e imágenes del trópico, donde priman el amarillo y el azul”, señaló Alex Camacho, realizador de esta pieza audiovisual.
Ese día se espera la presencia del alcalde de Cali, Rodrigo Guerrero Velasco; de la secretaria de Cultura y Turismo, María Helena Quiñónez, y del cineasta y director artístico Luis Ospina. Todos ellos se referirán a los pormenores de esta programación, que se cumplirá del 8 al 12 de noviembre en distintos escenarios de la ciudad.
Mónica Sánchez, coordinadora del festival, destacó la realización del promocional de este certamen, el cual fue realizado por el equipo de creativos de la Secretaría de Cultura y Turismo de Cali. Lo integran Alex Camacho, en la realización; Pablo Castillo, en la dirección de fotografía; Diego Tabares, en el Diseño; Robinson Carmona, en la producción, y Octavio Cruz, en la edición.
“Este promocional trabaja un concepto muy citadino, intentando realizar en muy poco tiempo registros de cartografía urbana. Se aplica mucha luz e imágenes del trópico, donde priman el amarillo y el azul”, señaló Alex Camacho, realizador de esta pieza audiovisual.
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Welcome to Spring Semester 2013
Memory lane
| 2010 98 min. |
| (La Senda de la memoria ) |
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