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. 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.
Odwalla Inc. is an American food product company that sells fruit juices, smoothies and food bars. It was founded in Santa Cruz, California, in 1980 and since 1995 is headquartered in Half Moon Bay, California. Odwalla's products includes juices, smoothies, soy milk, bottled water, organic beverages, and several types of energy bars, known as "food bars".
The company experienced strong growth after its incorporation in 1985, expanding its distribution network from California to most of North America, and went public in 1993. In 2001, Odwalla was acquired by The Coca-Cola Company for US$181 million and became a wholly owned subsidiary.
A period of decline occurred as the result of a fatal outbreak of E.coli-H7 in 1996 that was caused by using bruised fruit that had been contaminated. Odwalla originally sold unpasteurized juices, claiming that the process of pasteurization altered the flavor of the juice. Following the E.coli outbreak, Odwalla adopted flash pasteurization and other sanitization procedures. Odwalla recalled its juices and experienced a 90% reduction in sales following the event. The company gradually recovered and the following year became profitable again.
Manual labour (manual labor in American English) or manual work is physical work done by people, most especially in contrast to that done by machines, and also to that done by working animals. It is most literally work done with the hands (the word "manual" comes from the Latin word for hand), and, by figurative extension, it is work done with any of the muscles and bones of the body. For most of human prehistory and history, manual labour and its close cousin, animal labour, have been the primary ways that physical work has been accomplished. Mechanisation and automation, which reduce the need for human and animal labour in production, have existed for centuries, but it was only starting in the 19th century that they began to significantly expand and to change human culture. To be implemented, they require that sufficient technology exist and that its capital costs be justified by the amount of future wages that they will obviate.
"The proletariat will use its political supremacy to wrest, by degree, all capital from the bourgeoisie, to centralise all instruments of production in the hands of the State, i.e., of the proletariat organised as the ruling class; and to increase the total productive forces as rapidly as possible.
Of course, in the beginning, this cannot be effected except by means of despotic inroads on the rights of property, and on the conditions of bourgeois production; by means of measures, therefore, which appear economically insufficient and untenable, but which, in the course of the movement, outstrip themselves, necessitate further inroads upon the old social order, and are unavoidable as a means of entirely revolutionising the mode of production.
These measures will, of course, be different in different countries.
Nevertheless, in most advanced countries, the following will be pretty generally applicable.
1. Abolition of property in land and application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.
6. Centralisation of the means of communication and transport in the hands of the State.
7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal liability of all to work. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.
10. Free education for all children in public schools. Abolition of children’s factory labour in its present form. Combination of education with industrial production, &c, &c. "
- —Karl Marx and Friedrich Engels, Manifesto of the Communist Party, English edition of 1888
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Did you know
- ...that EID Parry is one of the oldest business entities in the Indian subcontinent and owes its origin to Thomas Parry, a Welshman who came to India in late 1780s?