1.

6 Definition of terms
1.6.1 Business
A business is an organization or enterprising entity engaged in
commercial, industrial or professional activities. A business can be a forprofit entity, such as a publicly-traded corporation, or a non-profit
organization engaged in business activities, such as an agricultural
cooperative
1.6.2 Businessman
A businessman is someone involved in business, where in particular
undertaking of activities, commercial or industrial, for the purpose of
generating cash flow, sales, and revenue utilizing a combination
of human, financial, intellectual and physical capital that further
fuels economic development and growth. An entrepreneur is an example
of a businessperson. Though the term usually refers to founder, owner, or
majority shareholder of a business, the term is sometimes
interchangeably used to describe a high level executive who does the
everyday running and management of the business even though the
executive is not the owner. The term may sometimes mean someone who
is involved in the upper-level management role of a corporation, company,
enterprise, firm, organization, or agency. This can especially apply to the
founder, an owner, a manager, an executive, or an administrator in charge
of total management of a corporation, company, organization, or agency.
1.6.3 Business hours
Business hours are the hours during the day in which business is
commonly conducted. Typical business hours vary widely by country. By
observing common informal standards for business hours, workers may
communicate with each other more easily and find a convenient divide
between work life and home life.
1.6.3 Customer

A customer (sometimes known as a client, buyer, or purchaser) is the recipient of

a Good or a service, or a product, or an idea, obtained from a seller, vendor, or supplier via
a financial transaction or exchange for money or some other valuable consideration.

1.6.4 Sales
A sale is

the exchange of

a commodity or money as

the price of

a good or a service. Sale also is activity related to selling or the amount of

sold goods or services in a given time period.
1.6.5 Salesman or Saleswoman
Salesman or saleswoman is the seller or the provider of the goods or
services completes a sale in response to an acquisition, appropriation,
requisition or a direct interaction with the buyer at the point of sale. There
is a passing of title (property or ownership) of the item, and the
settlement of a price, in which agreement is reached on a price for which
transfer

of

ownership

of

the

item

will

occur.

The seller,

not

the purchaser generally executes the sale and it may be completed prior
to the obligation of payment. In the case of indirect interaction
1.6.6 Profit
The surplus remaining after total costs are deducted from total revenue, and
the basis on which tax is computed and dividend is paid. It is best known measure of
success in an enterprise. Profit is reflected in reduction in liabilities, increase
in assets, and/or increase in owners' equity. It furnishes resources for investing in
future operations, and its absence may result in the extinction of a company. As
an indicator of comparative performance, however, it is less valuable than return on
investment (ROI).