Vincent Bronson

Guide to Data Mining for Business Analytics Vincent Bronson

A business is an entity that is formed in order to carry out activities for the purpose of generating revenue. It involves managing people to organize and maintain a collective effort toward accomplishing a particular creative or productive goal. The term may refer to general commercial, professional, or industrial activity. The singular usage of the term refers to a particular company or corporation, wherein individuals organize based on expertise and skills to bring about social or technological advancement. The generalized usage refers to a particular market sector, "the computer business" or "the business community," and the particular community of suppliers of various goods and services. With some exceptions, such as cooperatives, non-profit organizations, and various government institutions, businesses are formed to earn profit and increase the personal wealth of their owners in exchange for their work and expense of time, energy, and money. In addition to different types of activity, such as manufacturing, service, retail, and so forth, there are also various forms of business organization, with different legal characteristics. As human society has moved toward increasing globalization there have been significant impacts on the world of business. One of the significant impacts is the interface with ethics, as doing business in different parts of the world challenges those involved to respond appropriately to more than one set of cultural and legal expectations.