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Business economics is an integral part of traditional economics and is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management. In other words, business economics is concerned with the application of economic theory to ...
A corporation is an organization —usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes. [1] : 10 Early incorporated entities were ...
v. t. e. A conglomerate ( / kəŋˈɡlɒmərət /) is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries under one corporate group. [1]
A modern corporate office building in Münster, North Rhine-Westphalia, Germany An office building of Nokia Corporation in Hervanta, Tampere, Finland. A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a ...
In economics, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies". [need quotation to verify] It is a subset of the domestic economy, excluding the economic activities of general government, private households, and non-profit organizations serving individuals.
Organizational economics is primarily concerned with the obstacles to coordination of activities inside and between organizations (firms, alliances, institutions, and market as a whole). Organizational economics is known for its contribution to and its use of: Transaction cost theory: costs incurred to organize an activity, especially regarding ...
In social science and economics, corporate capitalism is a capitalist marketplace characterized by the dominance of hierarchical and bureaucratic corporations. Overview [ edit ] In the developed world , corporations dominate the marketplace, comprising 50% [ citation needed ] or more of all businesses.
A trust or corporate trust is a large grouping of business interests with significant market power, which may be embodied as a corporation or as a group of corporations that cooperate with one another in various ways. These ways can include constituting a trade association, owning stock in one another, constituting a corporate group (sometimes ...