The activity of making, buying, or selling goods or providing services in exchange for money.

Business factors:

Human & Physical (capital) & financial & enterprise --- production --- goods & services

Business Functions:

Human resources, marketing, finance and accounts, and operations management or production.

Business Sectors:

Horizontal Growth: When a company grows by purchasing another company.

Vertical Growth: Purchases another company in its chain of production.

Entrepreneur: An individual who develops a new idea of starting a new business; and taking risks.

• Innovates new concepts.

• Recognized and utilized opportunity.

• Challenging.

• Adds value.

• Take decisions.

• Highly motivated.

Intrapreneur: An employee who has the authority to initiate creativity and innovation in the company.

• Market reading.

• Need seeking.

• Technology driving.

Business Plan: To determine the costs needed to prepare the main elements required to transform materials into products.

• Attract funds.

• Support strategic planning.

• Identify needs.

• Provide a focus for development.