Becoming An Entrepreneur, A Person, Partnership Or Corporation That Provide Goods And Services For A Profit

1892 Words8 Pages
“A business is a person, partnership or corporation that seeks to provide goods and services to others for a profit” (Bethel University, 2011, p.4). People often have ideas to form a business but are lacking in the knowledge of how a business works or the terms that are related to managing a business. For example, the words goods and services that define what a business supplies the consumer. The goods are tangible products that can be physically consumed or used (Bethel University, 2011). Services are intangible products that provide certain benefits to others in a nonphysical way. Becoming an entrepreneur, the risk taker and funder of a business, is regularly seen as being a simple task. However, the idea is just the seed in starting a business (Bethel University, 2011). To grow a successful business, one must be familiar with expenses and revenues and how they will affect profit. Also when starting a business, big or small, there are risks a person will take that may end in loss of money. Throughout centuries and decades, businesses have made great advancements with technology. It elevated effectiveness, efficiency, and productivity but came with a price. Due to the ability of modern machines, unemployment increased. The lack of work caused people to become ambitious about gaining an education and growing with the economy. How a business evolves, small or global, greatly impacts development and success in today’s world. The advances made in

More about Becoming An Entrepreneur, A Person, Partnership Or Corporation That Provide Goods And Services For A Profit

Open Document