Answer to Question #187496 in Management for Karabo Maluleke

Question

1 Explain the relationship between a business and an establishment.​​​

Answer 1

Introduction

In the current world, many activities have been carried out with different aims, this activity requires a previous thought. Taking for example in an economic field, many activities are being exercised which are generally referred to as business activities and establishment, these two terms are in a close relationship as discussed in this paper.

Business is any activity in an organization comprising of individuals who work together to achieve a common objective or goal, the common goal in the case of business is to earn a profit after the end of the business activity. On the other hand, an establishment is a dominant group or a business location for a company that is engaged in a single activity or an elite /group that controls the activity of an organization. Therefore establishment is a stable setup, for example, a restaurant. From the above illustration, an establishment is indeed a type or form of business activity.

Reference

Crane, L. D., & Decker, R. (2019). Business Dynamics in the National Establishment Time Series (NETS). Peng, M. Y. P., Tuan, S. H., & Liu, F. C. (2017, July). Establishment of business intelligence and big data analysis for higher education. In Proceedings of the International Conference on Business and Information Management (pp. 121-125). Albrecht, J. (2017). The establishment of the business architecture discipline in the Czech enterprises. Journal of Systems Integration, 8(2), 25-34.