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A business (also known as enterprise or firm ) is an organization involved in the trade of goods , services , or both to consumers . [ 1 ] Business plan and Business model determine the outcome of an active business operation. Businesses are predominant in capitalist economies , where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned .
A company is an association or collection of individuals people or "warm-bodies" or else contrived " legal persons " (or a mixture of both). Company members share a common purpose and unite in order to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals . Companies take various forms such as: