User talk:Aldrin Sacristan

Business in General
What is a business?

BUSINESS is a commercial endeavors or activities engaged in by any individual as a means of livelihood, profit, or source of income or an entity which engages in such income or profit generating activities.

We could also refer to business as an organization that produces goods, services, ideas, information, and even experiences to the public in order to make a profit or income. There are also some not-for-profit organizations such as foundations that also engage in an income generating activities in order to sustain its services.

The Business Culture

Experts explained the business is the evolutionary growth of various activities evolving from a simple to complex system. Its main intention is to satisfy the basic and secondary needs and wants of people. Although profit is the driving force of business but over the years, it evolved and changed to aiming the delivery of social responsibility to the society. Peter Drucker, the management guru, mentioned that the primary reason why businesses establishments exist is because of the consumers. While it is true that business, in a legal sense,	is involved in the production of goods and services, aimed to meet the economic needs of consumers with an objective of eventually earning profit, it must not forget its responsibility to the people. The elements of a business system (also called as Factors of production in economics)

Land refers to the land itself and to all natural resources, including timber, minerals, petroleum.

Labor refers to the physical and mental contribution of the worker or employee who produce goods and services Capital refers to the money invested by the businessman or entrepreneur to the business activity which serves as the oil that runs the whole business operations. Entrepreneur also called as the businessman as mentioned above who buys and organizes the three factors of productions such as land, labor, and capital to provide goods and services. It is considered to be the most important factor of production. Relationship between Business and the Economy

Man created business to support his daily needs. As the business grew, man started to hire people in order to meet the demands of the public (clients). An act that provides jobs for people. Then, people earns money and part of that earning goes back to the businessman because people buy products from business owner for personal consumption. The money that they (the business man and the workers) created has circulated in the market, and it helps our economy. To compliment our understanding on this relationship of the business and the economy, let us discuss the four dimensions of business.--Aldrin Sacristan 01:59, 5 July 2006 (UTC) (This article is aslo availabel at http://www.sacristanspeaks.com/subjects.html)