It is an establishment (a factory or an assembly plant or retail store or warehouse etc.) where business is conducted, goods are made or stored or processed or where services are rendered
Synonyms: place of business
Examples: Oval Office the office of the President of the United States in the White House
Type of: establishment a public or private structure (business or governmental or educational) including buildings and equipment for business or residence
A BUSINESS, also known as an enterprise, agency or a firm, is an entity involved in the provision of goods and/or services to consumers. Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange for other goods, services, or money. Businesses may also be social not-for-profit enterprises or state-owned public enterprises targeted for specific social and economic objectives.
A business owned by multiple individuals may be formed as an incorporated company or jointly organised as a partnership. Countries have different laws that may ascribe different rights to the various business entities.
Business can refer to a particular organization or to an entire market sector, e.g. "the music business". Compound forms such as agribusiness represent subsets of the word's broader meaning, which encompasses all activity by suppliers of goods and services. The goal is for sales to be more than expenditures resulting in a profit.
The ESTABLISHMENT generally denotes a dominant group or elite that holds power or authority in a nation or organization. The Establishment may be a closed social group which selects its own members (as opposed to selection by merit or election) or specific entrenched elite structures, either in government or in specific institutions.
An establishment is a single business location of a company which is engaged in a single activity. The Department of Labor specifies: An establishment may also be a store, office or other physical entity that sells or produces goods or services that is physically distinct from any other facility operated by a business.
The term "establishment" is important in employment law and labor relations, because these laws apply to employees at establishments. For example, a store (establishment)owned by a company in one state may have different applicable labor laws than a store (establishment) owned by the same company in another state.