The term business comes from the Latin negotium, a word formed by NEC and
otium ( “what is not leisure” ). It is about occupation, work or work
that is done for profit.

The business is an operation of particular complexity,
related to the processes of production, distribution, and sale of services and
goods, with the objective of satisfying the different needs of the buyers and
benefiting, in turn, the sellers. In modernity, the management of these
productive functions is in charge of entrepreneurs and individual owners, who
in turn are responsible for organizing and directing the industries, seeking to
obtain an economic benefit.

Since the era of economic flourishing with the Industrial
Revolution began, the old ways of doing business underwent certain
modifications, giving rise to the birth of the methods of business organization
that is known today. Thanks to this, various branches of the industry evolved
and began to work more efficiently.

What is the subject of a lucrative occupation, the action
and effect of negotiating and the interest that is achieved in what is traded
are other uses of the concept: “I have to talk about business with
you,” “My husband will travel to the United States to try to close
several important businesses. ”

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In some Latin American countries, business is also the place
in which it is traded or traded, although the correct way to refer to this concept
is through the term store.

The trade, moreover, is established negotiation when buying
or selling goods. It should be noted that deal can be used as a synonym for
business when it refers to a physical location, to a commercial store.

The business world implies, in its broadest sense, several
related notions. When business activity develops formally and with a specific
volume, companies are usually created. A corporation is a socio-economic unit,
composed of human, technical and material elements, whose objective is to
obtain profits through participation in the market for goods and services.

Below are three
different types of companies:

* individual property: this organizational modality
establishes that the owner is the only person who assumes responsibility for
the business, as well as the results obtained, whether successes or failures.
The property individually has the opportunity to exercise any activity, unless
the legislature expresses the opposite effect. Although it has some advantages,
this model is not convenient for those who want to set up a large company; The
main reason is that a bad business can result in a millionaire loss, and in
this case, it should be faced by a single individual. On the other hand, this
form of ownership is the most adopted by farmers ;

* partnership: it is a business association formed by a
minimum of two people who accept the combination of their financial assets,
assets, capabilities and their labor. To start a company, it is necessary to
sign a partnership agreement, in which it is possible to specify the company’s
policy, the percentage of the benefits that correspond to each member, and the
duration of the link, among other clauses;

* corporation: was created as a more powerful alternative to
individual property and society. In each country, there is a series of
mandatory requirements that must be met by anyone wishing to create a
corporation; Once these demands of the State have been crossed, it is possible
to dictate the statutes.

It is said that a business that operates in a free market economy
will obtain benefits whenever it is useful for the community in which it
carries out its activities. This is due to the responsibility that exists on
the part of the company towards the consumer, which represents a fundamental
principle.

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