Enterprise

Posted in Finance, Accounting and Economics Terms, Total Reads: 622
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Definition: Enterprise

An enterprise is a business organization. It can also be defined as a complicated and effort requiring project undertaken by an individual or group of individuals to make a profit. It may even be a non-profit organization or any government agency. Another meaning for enterprise is the action of an entrepreneur i.e. a person who loves to take up new ventures, mostly for making a profit.

 

Example –

Enterprise may include small businesses like restaurants, salons, farms, small factories, general stores, furniture shops. These are run to make a profit for an individual or a group of individuals. These can be easily recognized as one can actually see them in operation, serving their customers.

There may be various other enterprises which have a non-profit motive and are set up for a social purpose. Their success is measured in terms of their impact on the society rather than on monetary benefits. Some examples of such enterprises are community based child care centres, health care centres, charities, housing co-operatives, sports club, etc.

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