Electronic English

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Business is a word, which is commonly used in many different languages. But exactly what does it mean?
The concepts and activities of business have increased in modern times. Traditionally, business simply meant exchange or trade for things people wanted or needed. Today it has a more technical definition. One definition of business is the production, distribution, and sale of goods and services for a profit. To examine this definition, we will look at its various parts.
First, production is a creation of services or the changing of materials into products. One example is the conversion of iron ore into metal car parts. Next these products need to be moved from the factory to the marketplace. This is known as distribution. Third is the sale of goods and services. Sale is the exchange of a product or service for money.
Many office workers dream of working their way up to the top from manager to president of the corporation. The way lies through middle management positions. Middle management includes junior executives, who may recommend action to top management or see that the company's policies are being carried out.
At the very top are senior executives, who establish the policies for their companies, especially those that involve finances. The top managers of the large corporations have a great deal of power and influence. It is still to start out at the bottom and go all the way to the top.
Because the financial operation of business is so important, some accountants become top executives. In companies where technology is important, people with an engineering background can also rise to the top.
Nowadays, however, education plays a central role in the selection of men and women for management jobs. Many U.S. universities have courses in business administration. The graduates of these courses often start out in middle management jobs. From there, they can easily get promoted if they show their necessary personality and ability.