Forms of Business Organizations

The term business is wide in meaning. It includes all human activities made for the sake of earning profits through the process of production of goods or buying or selling of goods. Man starts a business of earning money; and money is earned by satisfying human needs and desires with different products.

A business organization is one unit of control which is busy in the production or distribution of any commodity in order to earn profit. Business organizations are of diversified nature from the point of view of ownership, control and size. A business organization may be owned by one person or a group of persons.