business definition of organization
Organization Meaning. The best way to derive the meaning of the term business organization is to focus on each word separately. Organization is a broader term, as it includes businesses and other groups of people not organized for commercial purposes.Clubs and sports teams are examples of non-business organizations. business organization is an individual or group of people that collaborate to achieve certain commercial goals. Some business organizations are formed to earn income for owners. Other business organizations, called nonprofits, are formed for public purposes.
A business, also known as an enterprise or a firm, is an organization involved in the provision of goods, services, or both to consumers.Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange for other goods, services, or money. business owned by multiple individuals may be referred to as a company. Business can refer to a particular organization or to an entire market sector, e.g. the music business.