What is Business: Definition and 181 Discussions

Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit."Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.

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  1. C

    Business masters' with a ridiculously stupid question

    Please don't destroy me I'm utterly out of my league. Totally admit it. Never took a math class beyond college algebra (a proud, passing C) and no physics not even 101. Yes I suck. Ok so just intuiting but isn't distance always going to be a subjective measurement of space between...
  2. cpscdave

    Designations after name on business cards

    Hi everyone hoping for some input here. I'm the process of ordering some business cards and am wondering what makes sense to include as designations after my name. I am an Engineer In Training based on local rules (Alberta, Canada) Prior to getting my B.Eng I also have a BSc in Computer...
  3. CaraKboom

    Jupiter gets up in Mercury's business - what happens next?

    Hi! I've been reading articles (from back in 2008) that speculate on what could happen if one day, billions of years from now, the gravity of Jupiter were to pull Mercury out of orbit. One of the possibilities discussed is that Mercury could be ejected from the solar system...
  4. S

    Physics/Math major thinking of an Actuary related job

    At the moment, I am a physics major and also putting a lot of emphasis on math. I am in my second year of undergrad at the moment. While my "dream" goal does include going into a PhD for physics, I do realize it's a long and demanding journey, so I have also been looking at actuary related jobs...
  5. A

    $100+ billion dollar gravity business

    I've applied physics in nuclear weapons work, finance, biochemistry, molecular dynamics, space physics, and other areas. High school students, and even young Air Force officers with technical degrees often have little idea of the value of physics. And physics loses. Linked here to a Prezi...
  6. Albert1

    MHB How to Create an Online Store for Your Business

  7. H

    Expert PCB Design Services for Small Business Start Up in 2012

    Hi, I am Electrical Engineer graduated in 2012. I am expert in PCB designing . So, i want to make start up in this field. First. can anybody tell me how to get customers who are interested in PCB designing, how to find customers?
  8. Pattonias

    Has anyone started a business out of college as a mechanical engineer?

    I am starting a engineering business with some friends while I am still in college. I graduated this past December and I am now working on my Masters. I was curious if anyone else has had a similar experience and what technological field you were in. We are designing an automated welding machine...
  9. M

    Can You Guarantee a Profit in Sports Arbitrage Betting?

    Homework Statement 1. Sports arbitrage: The following lines are available at different bookmakers on next week’s game for the Steelers versus the Ravens: Bookmaker 1: 1:1 odds that the Oakland beats Tennessee (if you bet $1, you win $2 for an Oakland win) Bookmaker 2: 2:1 odds that...
  10. Albert1

    MHB Using Social Media to Increase Your Business Profits

  11. A

    Fund Your Research: Physicists, Build Your Business & Reach Your Goals

    As a physicist... Would you like to fund your own research? Lets say that you are a brilliant physicist—applies to any scientists in general—and working on a research while running a business, and you have the ability to fund and build laboratories. I want to hear what people think of that...
  12. T

    Looking for start up business ideas as a first year student?

    I am a first year physics and computer science/ applied math student. I am looking into starting my own business during college. I am inspired by these people who start up these muliti million dollar business in there garages. I do not expect that to happen to me, but it would still be fun to do...
  13. J

    New Business- HELP Industrial Equipment and Electrical question

    Hi, I am a new business that has ordered some electrical equipment. The first is a packing machine and the plug that the machine is being sent I have attached to this post. It is listed as 220v, 3 phase, 50hz but NEMA does not show this to be the same specifications. How will I make...
  14. F

    Math Looking to get PhD in maths/physics, but end goal is in business

    I'll give a summary of the issue, then put it into questions. I've wanted to 'do physics' for as long as I can remember, but have recently become somewhat (Though not totally) disillusioned. Aside from physics/maths, I really love making effective plans and guiding them to fruition, as vague...
  15. StevieTNZ

    Support Evo's and My business adventure

    So whilst Evo and I discussed the news of the day, the greatest idea came to Evo. She said we should be psychics. If anyone doesn't know what a psychic is, summed up they are people who prey on the stupid and speak nonsense in return for money. I have noticed on The Real Housewives of...
  16. phion

    How Does Marissa Mayer Inspire Vision and Innovation at Yahoo?

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  17. E

    Application of Artificial Neural Networks to Business Problems

    Hello everyone! Searching for applications of artificial neural networks (ANNs) to real world problems, all I found were applications to computer science problems (e.g. face recognition, OCR, automated control of systems and machines etc.) and some very experimental works (e.g., crime forecast...
  18. A

    Unlock the Benefits of IT Solutions for Your Business

    What are IT Solutions and how can it affect your business? Since technology is one fast way to communicate with clients, what about the benefits of IT solutions services?
  19. D

    Math Advanced mathematics applicable for business?

    I'm currently studying calculus and I'm considering becoming a mathematician (possibly professionally, and definitely just for fun). What I would like to know is if more advanced mathematics could have any use for the business/business administration field. I'm thinking of anything from...
  20. K

    Programs Can you Do an MBA without majoring in Business and Economics?

    Can you do an MBA without even doing business and economics in the undergraduate program. I want to do a Major in Physics and Computer Science and a Minor in Math but I won't do business in Business and Economics but I want to get an MBA. Is this possible?
  21. S

    Math Is it too late to switch from business to math as a career path?

    Hello everybody, I started school in 2006 and studied like crazy to get out. I could have graduated in 3.5 years but became burned out after countless hours for studying of useless economcis classes. The economy hit the skids my junior year which threw me into a bit of depression since I...
  22. P

    Programs MBA after an Engineering Degree or Business Degree?

    If one wants to work as a financial or risk analyst, would it be better to have a bachelor in engineering or business? Obviously, a business major would help me in the field, but someone told me that this way you will become a one trick pony, you should have broad knowledge and go for a...
  23. H

    Programs Business major with a minor in nuclear engineering

    I am currently and international business and accounting major with a minor in chinese. i love what i am doing but i want to take nuclear engineering, aside from the fact that the subject is fascinating i would love to do it... only question is, as a business major what could i do with nuclear...
  24. R

    Does it make business sense - built to last

    Dear Forummers There are LED light bulbs at a low-enough price . These bulbs can illuminate as brightly as CFL bulbs and consumes even less energy and radiate light in all directions just like CFLs. These are said to last 15, 20 years or longer depending on daily usage. Now, my question...
  25. S

    Physics Is it better to get a physics degree than a business degree to work in business?

    I was reading an article how the business degree (aside from accounting and perhaps finance) is considered by employers to be virtually worthless. The reasons for this are basically that the typical business student is not too bright and rather lazy, with virtually no math or computational...
  26. H

    Schools I'm a Math/Operations Research major considering Graduate School for Business

    I haven't taken my graduate admission exam, but I'm not that worried about it. I really think I have the overall skills to do well. I was just curious: how hard it is to get into the grad schools for business after being a mathematics major with my emphasis in operations research? To be...
  27. M

    What Will the Market Price of the Share Be After a 20% Stock Dividend?

    29. A firm has 1 million shares outstanding with a par value of 100 kroner. Retained earnings are 200 million kroner and the current share price is 325 kroner. The firm undertakes a 20% stock dividend. What do you expect the market price of the share to be immediately after the stock...
  28. Lebombo

    Calc student stuck on business application: revenue for 1 additional item

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  29. K

    Why Are Transfer Students Often Overlooked for Scholarships?

    I feel I will explode and must rant about it somewhere Tell me how I have an IB diploma with an extra certificate in physics, five 5's on AP exams, a 4.06 hs gpa, a 4.0 college gpa with all honors courses, am involved in science and honors clubs and whatnot and research, and yet got ZERO...
  30. A

    Business student who likes science

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  31. Greg Bernhardt

    Meals on wheels is serious business

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  32. L

    MHB How to calculate percentage lease rent for a store with varying monthly sales?

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  33. P

    How can you run a successful business with no customers or income?

    I don't know anything about opening a company to provide services or to sell puppes for example . That costs money, from large to small (I don't know how much). But I am curious about it. I wonder how are you going to manage your business if there is no customer at all the whole year round ? I'd...
  34. S

    Exploring Opportunities for Creative Mathematics in the Business World

    Hi all, I'm trying to get into a business field that utilizes a lot of mathematics; Basically, I'm looking for a field that involves a lot of upper level mathematics (Graph theory, graduate level analysis, matrix analysis, etc.), is based in the business world, and will allow me to use...
  35. F

    MHB In a business letter where does the Ref-Code go?

    I'm guessing there are some proffesionals here and wasn't sure where else to ask. There may not be a correct answer. If I'm responding to a job posting and the posting has "Ref-Code: CA-55291679-EN-12-002" where should I site it? I'm guessing it should go imidiatly bellow or above the subject...
  36. T

    SHould I chose engineering or business?

    First a bit about me. I am 18 years old and on my gap year. Mainly because I could not decide which degree I wanted to pursue, and I had to work this year to afford university. I have always been a person who wanted to know how things work, and I have always enjoyed solving real world...
  37. N

    Optimizing Rent and Revenue: Real Estate and Wholesale Pricing Strategies

    Okay so I need help with 2 problems. One I did a bunch of work for but I am not sure if my answers right, and the second I'm not sure how to start it. The first problem: A real estate office handles 50 apartment units. When the rent is $720 per month, all units are occupied. However, on...
  38. Shackleford

    Business Process Engineering

    I've also seen it referred to as Business Process Re-Engineering. Is anyone familiar with this? I really don't see any graduate degrees or certificates out there.
  39. G

    Help the Family Business: Engineering Degrees & Contracting

    Hello all, Basically, since my early high school years I've been interested in engineering. My dad was an electrical engineer and really expanded the electrical business that my grand dad, an electrician, started. He and the 3 other E.E.'s that worked for him passed away, and the company...
  40. Loren Booda

    Do you use Physics Forums in business?

    Have you ever referred to Physics Forums to help in your professional capacity?
  41. M

    Is Transrapid still in operation and what happened to them?

    Hi! I doing some research about Maglev trains as a science project, and will ultimatly try to create a simulation of a Maglev train, and finaly a scaled real life model. Anyway, I tried to contact Transrapid to ask them a few questions about the trains. But now it has gone two weeks, and I...
  42. M

    Physics Physics PhD -> Business Consulting?

    Physics PhD ---> Business Consulting? How does that work out? Why are Physics PhDs hired to do this kind of work? Why not somebody with with a Finance degree or some such? I actually know someone who's partners with somebody else in a (new-ish) business consulting firm and I asked her if...
  43. S

    Looking for advice regarding mathematics in business (Business math)

    Hello all, I just finished my undergraduate degree in mathematics last December and I'm trying to figure out how to proceed in the future with my math degree. I am more interested in applied mathematics and am trying to get some advice as to what field to specialize in; I'm looking for...
  44. G

    What industry should I start my business in to become a sci-tech mogul?

    im finishing high school this year (wish me luck to my exams!),,,,,, but anyways, i wanted to do electrical engineering/computer science in university. After University, I am planning to work for any engineering/technical company. After earning 7-10 years of work experience, I want to start a...
  45. H

    I’ve made a huge mistake (or: how I learned I hate business and love physics)

    Greetings! I’m a long time lurker; so let me apologize off the bat for popping in here with my first post being a request for advice, I’ll try not to ramble too much. Two years ago the idea of "changing course" on the direction of my life came up. I pushed the idea aside, assuming my...
  46. B

    Quantitative Finance: closest thing to go back to Science for business student?

    I'm a 20 years old female, need some guidance from seniors. :) It's been my dream to work with rockets, propulsion, and everything related to outer space. In short: NASA. I understand that the competition in this field is fierce considering skills in numeracy (physics/math). I took Science...
  47. S

    Industrial Engineering for someone who loves business?

    Thanks for helping me sort out my future, I appreciate it greatly. I've read the "Should I..." thread. I need to return to college for a 2nd Bachelors. My first was in IT, and I'm largely bored with being so tech focused. Frankly, the "support" aspect of the field has caused me to really hate...
  48. QuarkCharmer

    Slimey Business Practices at my Univ.

    My University changed the way it handles financial aid refunds. Rather than sending a check, or depositing it into an account, we have to sign up for a debit card service through a company that a quick google search indicates is VERY slimey. You can still get the funds direct deposited to your...
  49. F

    Programs Questions about business majors

    I am considering a business degree, and I have a few questions concerning this field of study. I have a specific learning disability in mathematical comprehension. I know that a business major involves finance, accounting, and statistics, which involves numbers and math. What level of math is...
  50. K

    Math Can you even start a business with a math degree?

    So most of my friends who are in more "applicable" programs in university have a desire to start a business. They're in engineering mostly but what kind of business can you even start with a math degree? I don't really want to be working for somebody my whole life but if you're in...
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