2017
04.14

The Definition of Business

I’m just starting my journey to gain “MBA” knowledge through the cheapest route. So instead of burning time and tens thousands of dollars, I’ll just read the book below:



As I progressed through the pages, I’ll write down findings that I found really interesting. The first thing that I found was the definition of business. Business is a repeatable process that:

  1. creates and delivers something of value …
  2. that other people want or need …
  3. at a price they’re willing to pay …
  4. in a way that satisfies the customer’s needs and expectations …
  5. so that the business brings in enough profit to make it worthwhile for the owners to continue operations

I like this definition. I found it concise, easy to remember, and become a very good topic for discussion after lunch! 😀 Lately my lunches hasn’t been boring whenever I brought up this topic.

More to come!

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