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Business and Economics at University of Düsseldorf »
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⇑Business and Economics at University of Düsseldorf

Language: German Studies in German

Subject area: economy and administration

University website: www.uni-duesseldorf.de

degree: Dr. rer. pol.

⇑Definitions and quotes

Business

Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.

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Economics

Economics () is the social science that studies the production, distribution, and consumption of goods and services.

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Business

Somewhere in the past. organizations were quite simple, and 'doing business' consisted of buying raw material from suppliers, converting into products, and selling it to customers... For the most part owner-entrepreneurs founded such simple business and worked along with members of their families. The family-dominated business still accounts for a large portion of the business start today.

R. Edward Freeman (2007) Strategic Management: A Stakeholder Approach p. 5

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Economics

The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.

L.K. Samuels, In Defense of Chaos: The Chaology of Politics, Economics and Human Action, Cobden Press (2013) p. 16.

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Business

In business affairs, it is the manner in which even small matters are transacted that often decides man for or against you.

Samuel Smiles. 'Men of business', Chapter 9, Self-Help (1859).

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