Portal:Business
IntroductionBusiness is the activity of making one's living or making money by producing or buying and selling products (such as goods and services).[need quotation to verify] Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." 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. Selected article During the Khrushchev era, from 1956 through 1962, the Soviet Union attempted to implement major wage reforms intended to move Soviet industrial workers away from the mindset of overfulfilling quotas that had characterised the Soviet economy during the preceding Stalinist period and toward a more efficient financial incentive. Throughout the Stalinist period, most Soviet workers had been paid for their work based on a piece-rate system. Thus their individual wages were directly tied to the amount of work they produced. This policy was intended to encourage workers to toil and therefore increase production as much as possible. The piece-rate system led to the growth of bureaucracy and contributed to significant inefficiencies in Soviet industry. In addition, factory managers frequently manipulated the personal production quotas given to workers to prevent workers' wages from falling too low. Selected image
Selected quote"You may think, perhaps, that a little tea, or a little punch now and then, diet a little more costly, clothes a little finer, and a little more entertainment now and then can be no great matter but remember what Poor Richard says "Many a little makes a mickle; beware of little expense for a small leak will sink a great ship"."
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