Businessperson

A business man or business woman is a person involved in the business sector – in particular someone undertaking activities (commercial or industrial) for the purpose of generating cash flow, sales, and revenue by utilizing a combination of human, financial, intellectual and physical capital with a view to fueling economic development and growth.[1]

Businessperson
Mauricio Macri Argentinian businessperson and politician
Occupation
NamesBusiness magnate
Business tycoon
Entrepreneur
Industrialist
Merchant
Trader
Investor
Builder
Contractor
Sub Contractor
Promoter
Wholesaler
Retailer
Occupation type
Businessperson
Activity sectors
Corporate
Description
CompetenciesInnovation
Risk taking ability
Critical thinking
Goal Seeking
Networking
Persuasion
Perseverance
Leadership
Education required
Qualification is not required.
Fields of
employment
Corporate
Related jobs
Capitalist

The term "businessperson" may refer to a founder, owner, or majority shareholder of a commercial enterprise.[2] The term may sometimes refer to someone who is an angel investor in a corporation, company, enterprise, firm, organization, or agency.

An entrepreneur is a person who sets up a business or businesses.

History

Prehistoric period: Traders

Since a "businessman" can mean anyone in industry or commerce,[3] businesspeople have existed as long as industry and commerce have existed. "Commerce" can simply mean "trade", and trade has existed through all of recorded history. The first businesspeople in human history were traders or merchants.

Medieval period: Rise of the merchant class

Merchants emerged as a "class" in medieval Italy (compare, for example, the traditional merchant caste (Vaishya) in Indian society). Between 1300 and 1500, modern accounting, the bill of exchange, and limited liability were invented, and thus the world saw "the first true bankers", who are certainly businesspeople.[4]

Around the same time, Europe saw the "emergence of rich merchants."[5] This "rise of the merchant class" came as Europe "needed a middleman" for the first time, and these "burghers" or "bourgeois" were the people who played this role.[6]

Renaissance to Enlightenment: Rise of the capitalist

Europe became the dominant global commercial power in the 16th century, and as Europeans developed new tools for business, new types of "business people" began to use those tools. In this period, Europe developed and used paper money, cheques, and joint-stock companies (and their shares of stock).[7] Developments in actuarial science and underwriting led to insurance.[8] Together, these new tools were used by a new kind of businessperson, the capitalist. These people owned or financed businesses as investors, but they were not merchants of goods. These capitalists were a major force in the Industrial Revolution.

The Oxford English Dictionary notes the earliest known use of the word "business-men" in 1798, and of "business-man" in 1803. By 1860 the spelling "businessmen" had emerged.[9]

Modern period: Rise of the business magnate

The newest kind of corporate executive working under a business magnate is the manager. One of the first true founders of management profession was Robert Owen (1771–1858). He was also a business magnate in Scotland.[10] He studied the "problems of productivity and motivation", and was followed by Frederick Winslow Taylor (1856-1915), who was the first person who studied work with the motive to train his staff in the field of management inorder to make them efficient managers capable of managing his business. [11] After World War I, management became popular due to the example of Herbert Hoover and the Harvard Business School, which offered degrees in business administration (management).[12]

Salary

Salaries for business person vary.[13][14] The salaries of the top business persons can be millions of dollars per year. For example, the owner of Discovery Inc., David M. Zaslav, made $156 million in 2014.[15] The high salaries which business persons earn have often been a source of criticism from many who believe they are paid excessively.[16]

Business guru

Some leading business theorists look to leaders in academic research on business or to successful business leaders for guidance. Collectively, these people are called "business gurus."

See also

References

  1. Compare: "businessman". WebFinance Inc. 2018. Archived from the original on 2 February 2009. Retrieved 6 July 2018. businessman[:] A person who is employed by an organization or company. Businessmen are often associated with white collar jobs. In order to avoid sexism or the perpetuation of stereotypes, the term is often replaced with "businessperson". The term "businesswoman" is less commonly used.
  2. Compare: "BUSINESSMAN". Audioenglish. Retrieved 27 August 2016. The noun BUSINESSMAN has 1 sense: 1. a person engaged in commercial or industrial business (especially an owner or executive)
  3. "BUSINESSMAN". Audioenglish. Retrieved 25 August 2014.
  4. Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 506. ISBN 9780141968728.
  5. Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 509.
  6. Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 510.
  7. Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 558.
  8. Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 559.
  9. "businessman". Oxford English Dictionary (Online ed.). Oxford University Press. (Subscription or participating institution membership required.)
  10. Drucker, Peter (2008). Management, Revised Edition. New York: Collins Business. pp. 13.
  11. Drucker, Peter (2008). Management, Revised Edition. New York: Collins Business. pp. 14.
  12. Drucker, Peter (2008). Management, Revised Edition. New York: Collins Business. pp. 15–16.
  13. "Business and Financial Occupations". Bureau of Labor and Statistics. U.S. Department of Labor. Retrieved 18 September 2015.
  14. "Management Occupations". Bureau of Labor and Statistics. U.S. Department of Labor. Retrieved 18 September 2015.
  15. "100 Highest Paid CEOs". AFL-CIO. AFL-CIO. Retrieved 18 September 2015.
  16. Gretchen Gavett. "CEOs Get Paid Too Much". Harvard Business Review. Harvard Business Review. Retrieved 18 September 2015.
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