Business what is it really?
What is Business? We use this word for many things but they all have some basic essential parts. I define Business as the producer or developer of something sells it for a type of compensation. Such as an egg , the farmer using raw materials and chickens produces an egg this egg is then sold for a compensation in this case of money to the consumer. It applies to several types of “business” such as manufacturing, farming, services, government and education. Let’s look at each of these and how it meets the “Producer” ---“Sale”-----“Compensation” model. Let’s look at manufacturing, IBM builds a computer and sells it to Lockheed Martin to use in their products. IBM is the Producer, Lockheed the customer buys it for either money or another product (compensation). How about a service industry, Comcast (a cable company) provides a service (Product) cable service to a viewer in Chicago for a monetary fee per month (Compensation). Government is a little harder to follow but ...
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