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.
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The term "businessperson" may refer to a founder, owner, or majority shareholder of a commercial enterprise. 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.
Prehistoric period: Traders
Since a "businessman" can mean anyone in industry or commerce, 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.
Around the same time, Europe saw the "emergence of rich merchants." 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.
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). Developments in actuarial science and underwriting led to insurance. 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.
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. 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. 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).
Salaries for business person vary. 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. The high salaries which business persons earn have often been a source of criticism from many who believe they are paid excessively.
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."
|Look up businessperson, businesswoman, or businessman in Wiktionary, the free dictionary.|
"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.
"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)
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