Editing Business (section)

== Activities ==
=== Accounting ===
{{Main|Accounting}}
Accounting is the measurement, processing, and communication of financial information about [[economic entity|economic entities]]<ref name = "NP 2013">{{cite book |last1=Needles |first1=Belverd E. |last2=Powers |first2=Marian |year=2013 |title=Principles of Financial Accounting |publisher=Cengage Learning |edition=12 |series=Financial Accounting Series}}</ref><ref>{{Cite report |date=November 1940 |title=Accounting Research Bulletins No. 7 Reports of Committee on Terminology |url=http://clio.lib.olemiss.edu/cdm/ref/collection/deloitte/id/9342 |publisher=Committee on Accounting Procedure, American Institute of Accountants |access-date=31 December 2013 |archive-date=7 January 2014 |archive-url=https://web.archive.org/web/20140107100208/http://clio.lib.olemiss.edu/cdm/ref/collection/deloitte/id/9342 |url-status=dead }}</ref> such as businesses and [[corporation]]s. The modern field was established by the [[Italians|Italian]] mathematician [[Luca Pacioli]] in 1494.<ref name=jkdiwan>{{cite book|last=Diwan|first=Jaswith|title=Accounting Concepts & Theories |publisher=Morre |location=London|id=id# 94452|pages=001–002}}</ref> Accounting, which has been called the "language of business",<ref name="wharton-language">{{Citation | url =http://kwhs.wharton.upenn.edu/2013/09/peggy-bishop-lane-on-why-accounting-is-the-language-of-business/ | title =Peggy Bishop Lane on Why Accounting Is the Language of Business | publisher =Knowledge @ Wharton High School | date =September 23, 2013 | access-date =25 December 2013 | archive-date =13 June 2018 | archive-url =https://web.archive.org/web/20180613183847/http://kwhs.wharton.upenn.edu/2013/09/peggy-bishop-lane-on-why-accounting-is-the-language-of-business/ | url-status =live }}</ref> measures the results of an organization's economic activities and conveys this information to a variety of users, including [[investor]]s, [[creditor]]s, [[management]], and [[Regulatory agency|regulators]].<ref name = "UW Dept">{{cite web |url=http://www.foster.washington.edu/academic/departments/accounting/Pages/accounting.aspx |title=Department of Accounting |year=2013 |website=Foster School of Business |access-date=31 December 2013 |archive-date=19 March 2015 |archive-url=https://web.archive.org/web/20150319223850/http://www.foster.washington.edu/academic/departments/accounting/Pages/accounting.aspx |url-status=live }}</ref> Practitioners of accounting are known as [[accountant]]s. The terms "accounting" and "financial reporting" are often used as synonyms.

===Commerce===
{{main|Commerce}}
Commerce is the process of exchanging goods and services.<ref>{{Cite OED|Commerce|id=37073}}</ref>
It is not just a single activity, but a set of activities that includes trade (buying and selling goods and services) and auxiliary services or aids to trade,<ref name=OXDICT>{{Citation |title=A Dictionary of Business and Management |editor=Jonathan Law |page=26 |year=2016 |edition=6th |publisher=Oxofrd University Press}}</ref> that includes communication and marketing, logistics, finance, banking, insurance, and legal services related to trade. Business is also defined as engaging in commerce, as these are done in all businesses.<ref>{{cite encyclopedia|url=https://en.oxforddictionaries.com/definition/us/business|title=Oxford Living Dictionaries|archive-url=https://web.archive.org/web/20190501064740/https://en.oxforddictionaries.com/definition/us/business|archive-date=May 1, 2019|quote=business [:] 2 The practice of making one's living by engaging in [[commerce]].}}</ref>

=== Finance ===
{{further|Financial management|Managerial finance}}
{{see also|Corporate finance|Strategic financial management}}
[[Finance]] is a field that deals with the study of money and [[investments]]. It includes the dynamics of [[asset]]s and [[Liability (financial accounting)|liabilities]] over time under conditions of different degrees of uncertainty and risk.<ref>{{cite web |last1=CFI |title=What is Finance? |url=https://corporatefinanceinstitute.com/resources/knowledge/finance/what-is-finance-definition/ |access-date=7 April 2020 |archive-date=7 April 2020 |archive-url=https://web.archive.org/web/20200407024526/https://corporatefinanceinstitute.com/resources/knowledge/finance/what-is-finance-definition/ |url-status=live }}</ref>
In the [[Finance#Corporate finance|context of business and management]], finance deals with the problems of ensuring that the firm can safely and profitably carry out its operational and financial objectives; i.e. that it: (1) has sufficient cash flow for ongoing and upcoming operational expenses, and (2) can service both maturing short-term debt repayments, and scheduled long-term debt payments.
Finance also deals with the ''long term'' objective of maximizing the value of the business, while also balancing risk and profitability; this includes the interrelated questions of (1) [[capital investment]], which businesses and projects to invest in; (2) [[capital structure]], deciding on the mix of funding to be used; and (3) [[dividend policy]], what to do with "excess" capital.

=== Human resources ===
{{main|Human resources}}
[[File:HUMAN RESOURCES.png|thumb|224x224px]]
Human resources can be defined as division of business that involves finding, screening, [[Recruitment|recruiting]], and [[training]] job applicants.<ref name=":1">{{Cite web |title=Human Resources (HR) Meaning and Responsibilities |url=https://www.investopedia.com/terms/h/humanresources.asp |access-date=2022-11-29 |website=Investopedia |language=en}}</ref> Human resources, or HR, is crucial for all businesses to succeed as it helps companies adjust to a fast-moving business environment and the increasing demand for jobs.<ref name=":1" />

The term "Human Resource" was first coined by [[John R. Commons]] in his novel '''The Distribution of Wealth'.'' HR [[Departmentalization|departments]] are relatively new as they began developing in the late 20th century. HR departments' main goal is to maximize employee productivity and protecting the company from any issues that may arise in the future. Some of the most common activities conducted by those working in HR include increasing innovation and creativity within a company, applying new approaches to work projects, and efficient training and communication with [[employee]]s.

Two of the most popular subdivisions of HR are [[Human resource management|Human Resource Management]],<ref>{{Cite web |title=What is HR (Human Resource Management)? |url=https://www.thebalancemoney.com/what-is-human-resource-management-1918143#:~:text=Human%20resource%20management%20(HRM)%20is,to%20contribute%20effectively%20and%20productively. |access-date=2022-11-29 |website=TheBalance |language=en}}</ref> HRM, and [[Human Resource Information Systems]],<ref>{{Cite web |title=What is an HRIS (Human Resource Information System)? |url=https://www.techtarget.com/searchhrsoftware/definition/HRIS |access-date=2022-11-29 |website=SearchHRSoftware |language=en}}</ref> or HRIS. The HRM route is for those who prefer an [[Management|administrative]] role as it involves oversight of the entirety of the company. HRIS involves the storage and organization of employee [[data]] including full names, addresses, means of contact, and anything else required by that certain company.

Some careers of those involved in the Human Resource field include enrollment specialists, HR analyst, recruiter, employment relations manager, etc.

===Information technology===
Many businesses have an Information technology (IT) department, which supports the use of [[information technology]] and computer systems in support of enterprise goals. The role of a [[chief information officer]] is to lead this department. For example, [[Ford Motor Company]] in the United States employs "more than 3,000 team members with advanced computing, analytical and technical skills".<ref>Lodge-Jarrett, J., [https://corporate.ford.com/articles/products/new-tech-team-members-transforming-ford.html Thousands of new tech team members helping transform Ford with more on the way], ''Ford Motor Company'', accessed 22 July 2023</ref>

=== Manufacturing ===
{{Main|Manufacturing}}
[[Manufacturing]] is the production of [[merchandise]] for use or sale using [[Wage labour|labour]] and [[machine]]s, [[tool]]s, chemical and biological processing, or formulation. The term may refer to a range of human activity, from [[handicraft]] to [[High tech manufacturing|high tech]], but is most commonly applied to [[Industry (manufacturing)|industrial]] production, in which [[raw material]]s are transformed into [[finished good]]s on a large scale.

=== Marketing ===
{{Main|Marketing}}
Marketing is defined by the [[American Marketing Association]] as ''"the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."''<ref>Marketing definition approved in October 2007 by the [[American Marketing Association]]: [http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx] {{Webarchive|url=https://web.archive.org/web/20101227123853/http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx|date=2010-12-27}}.</ref> The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Marketing tactics include [[advertising]] as well as determining product [[pricing]].

With the rise in technology, marketing is further divided into a class called [[digital marketing]]. It is marketing products and services using digital technologies.

=== Research and development ===
{{Main|Research and development}}
Research and development refer to activities in connection with corporate or government innovation.<ref>{{Cite web|last=Kenton|first=Will|title=Why Research and Development (R&D) Matters|url=https://www.investopedia.com/terms/r/randd.asp|access-date=2020-06-12|website=Investopedia|language=en|archive-date=2018-07-10|archive-url=https://web.archive.org/web/20180710141413/https://www.investopedia.com/terms/r/randd.asp|url-status=live}}</ref> Research and development constitute the first stage of development of a potential new service or product.<ref name="britannicaRnD">{{Cite web|title=Research and development|url=https://www.britannica.com/topic/research-and-development|access-date=2020-06-12|website=Encyclopedia Britannica|language=en|archive-date=2020-10-03|archive-url=https://web.archive.org/web/20201003033503/https://www.britannica.com/topic/research-and-development|url-status=live}}</ref> Research and development are very difficult to manage since the defining feature of the research is that the researchers do not know in advance exactly how to accomplish the desired result.<ref name="britannicaRnD" />

=== Safety ===
{{Main|Safety}}
[[File:Safety plan of a small Italian business, Chieti, Italy.jpg|thumb|This safety plan of a small Italian business provides information regarding emergency instructions ([[earthquake]] and  [[fire]]), [[emergency telephone number]]s, [[Emergency evacuation|escape routes]] and locations of [[first aid kit|first aid box]] and [[fire extinguisher|fire exstinguishers]].]]
Injuries cost businesses billions of dollars annually.<ref>Leigh, J. (2011). Economic Burden of Occupational Injury and Illness in the United States. Milbank Quarterly, 89(4), 728–772. {{doi|10.1111/j.1468-0009.2011.00648.x}}</ref> Studies have shown how company acceptance and implementation of comprehensive safety and health management systems reduce incidents, [[insurance]] costs, and workers' compensation claims.<ref>Rowe, Kelly P. (2007). OSHA and small businesses: A winning combination: When small businesses tap into OSHA's many resources, everyone benefits. Occupational Hazards, 69(3), 33.</ref> New technologies, like wearable safety devices<ref>Goldberg, S. (2016). Business Technical: Wearable Devices at Work. Business Insurance, 50(2), 1.</ref> and available online safety training, continue to be developed to encourage employers to invest in protection beyond the "[[:wikt:canary in a coal mine|canary in the coal mine]]" and reduce the cost to businesses of protecting their employees.

=== Sales ===
{{Main|Sales}}
Sales are activity related to selling or the number of goods or services sold in a given time period. Sales are often integrated with all lines of business and are key to a companies' success.<ref>{{cite news |title=How To Organize Your Marketing Department In The Digital Age |url=https://www.cmo.com/features/articles/2015/2/12/organizing-for-digital-cwtk.html#gs.ZPr_RZ8 |access-date=October 15, 2018 |archive-date=April 26, 2018 |archive-url=https://web.archive.org/web/20180426030543/http://www.cmo.com/features/articles/2015/2/12/organizing-for-digital-cwtk.html#gs.ZPr_RZ8 |url-status=live }}</ref>