What do you think when you hear the word "business"? This question was asked in a large seminar that was full of business students. Around 60% of the students used the definition which is most widely used in their courses:" a business is an organization that combines the factors of producing goods or services that satisfies the wants or needs of a customer." However, the speaker wasn't moved by the answer, and he went on with an explanation of his own: "Business is selling a product, what we have been learning till now is the definition of production rather than a business. When you put together resources, you are actually producing a product, but the business ain't done until the product is sold"

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