A businessperson, also referred to as a businessman or businesswoman, is an individual who has founded, owns, or holds shares in (including as an angel investor) a private-sector company.[dubious – discuss] A businessperson undertakes activities (commercial or industrial) to generate cash flow, sales, and revenue by using a combination of human, financial, intellectual, and physical capital to fuel economic development and growth.
 CNOOC Group Chairman Wang Yilin (left) shaking hands with BG Group CEO Chris Finlayson in 2013 | |
| Occupation | |
|---|---|
Occupation type | Business |
Activity sectors | Private |
| Description | |
| Competencies |
|
Education required | Qualification is not required |
Related jobs | Capitalist |
History
Medieval period: Rise of the merchant class
Merchants emerged as a social class in medieval Italy. Between 1300 and 1500, modern accounting, the bill of exchange, and limited liability were invented, and thus, the world saw "the first true bankers", who were certainly businesspeople.[need quotation to verify]
Around the same time, Europe saw the "emergence of rich merchants." This "rise of the merchant class" came as Europe "needed a middleman" for the first time, and these "burghers" or "bourgeois" were the people who played this role.
Renaissance to Enlightenment: Rise of the capitalist
Europe became the dominant global commercial power in the 16th century, and as Europeans developed new tools for business, new types of "business people" began to use those tools. In this period, Europe developed and used paper money, cheques, and joint-stock companies (and their shares of capital stock). Developments in actuarial science and underwriting led to insurance. Together, these new tools were used by a new kind of businessperson, the capitalist. These people owned or financed businesses as investors, but they were not merchants of goods. These capitalists were a major force in the Industrial Revolution.
The Oxford English Dictionary reports the earliest known use of the word "business-men" in 1798, and of "business-man" in 1803. By 1860, the spelling "businessmen" had emerged.
Merriam Webster reports the earliest known use of the word "businesswoman" in 1827.
Modern period: Rise of the business magnate
The newest kind of corporate executive working under a business magnate is the manager. One of the first true founders of the management profession was Robert Owen (1771–1858). He was also a business magnate in Scotland. He studied the "problems of productivity and motivation", and was followed by Frederick Winslow Taylor (1856–1915), who was the first person who studied work with the motive to train his staff in the field of management to make them efficient managers capable of managing his business. After World War I, management became popular due to the example of Herbert Hoover and the Harvard Business School, which offered degrees in business administration (management) with the motive to develop efficient managers so that business magnates could hire them with the goal to increase productivity of the private establishments business magnates own.
Salary
Salaries for businesspeople vary. The salaries of businesspeople can be as high as billions of dollars per year. For example, the owner of Microsoft, Bill Gates makes $4 billion per year. The high salaries which businesspeople earn have often been a source of criticism from many who believe they are paid excessively.
Entrepreneurship
An entrepreneur is a person who sets up a business or multiple businesses (serial entrepreneur). Entrepreneurship may be defined as the creation or extraction of economic value. It is generally thought to embrace risks beyond what is normally encountered in starting a business. Its motivation can include other values than simply economic ones. In general usage, because the distinction is not clear-cut, the term 'entrepreneur' may be used as a (self-)promoting euphemism for 'businessperson', or it may serve to objectively indicate particular passion and risk-taking in a business field. Still, the distinction is only one by degrees.
See also
References
- "businessman". WebFinance Inc. 2018. Archived from the original on 2 February 2009. Retrieved 6 July 2018.
businessman[:] A person who is employed by an organization or company. Businessmen are often associated with white collar jobs. In order to avoid sexism or the perpetuation of stereotypes, the term "businessperson" is often used. The term "businesswoman" is less commonly used.
- Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 506. ISBN 9780141968728.
- Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 509.
- Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 510.
- Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 558.
- Roberts, J.M. (2013). The Penguin History of the World, Sixth Edition. New York: Penguin. p. 559.
- "Industrial Revolution Definition: History, Pros, and Cons". Investopedia. September 2008. Retrieved 2 May 2023.
- "businessman". Oxford English Dictionary (Online ed.). Oxford University Press. (Subscription or participating institution membership required.)
- "Definition of "businesswoman"". Merriam-Webster. Retrieved 2 May 2023.
- Drucker, Peter (2008). Management, Revised Edition. New York: Collins Business. pp. 13.
- Drucker, Peter (2008). Management, Revised Edition. New York: Collins Business. pp. 14.
- Drucker, Peter (2008). Management, Revised Edition. New York: Collins Business. pp. 15–16.
- "Business and Financial Occupations". www.bls.gov. U.S. Department of Labor. Retrieved 18 September 2015.
- "Management Occupations". www.bls.gov. U.S. Department of Labor. Retrieved 18 October 2015.
- Gavett, Gretchen (23 September 2014). "CEOs Get Paid Too Much". Harvard Business Review. Retrieved 18 September 2015.
- "Entrepreneur: What It Means to Be One and How to Get Started". Investopedia. 1 May 2006. Retrieved 2 April 2023.
- "What is entrepreneurship?". Stanford Online. 10 January 2022. Retrieved 2 April 2023.
- "Starting a Business | Encyclopedia.com". www.encyclopedia.com. Retrieved 5 December 2021.
- "Difference between businessman and entrepreneur". Define Business Terms. 19 March 2023. Retrieved 2 April 2023.
- "The Difference Between An Industrialist, Businessman And An Entrepreneur". The Gritti Fund. 21 February 2019. Retrieved 2 April 2023.
A businessperson also referred to as a businessman or businesswoman is an individual who has founded owns or holds shares in including as an angel investor a private sector company dubious discuss A businessperson undertakes activities commercial or industrial to generate cash flow sales and revenue by using a combination of human financial intellectual and physical capital to fuel economic development and growth BusinesspersonCNOOC Group Chairman Wang Yilin left shaking hands with BG Group CEO Chris Finlayson in 2013OccupationOccupation typeBusinessActivity sectorsPrivateDescriptionCompetenciesInnovationRisk Taking AbilityCritical thinkingGoal seekingNetworkingPersuasionPerseveranceLeadershipEducation requiredQualification is not requiredRelated jobsCapitalistHistoryMedieval period Rise of the merchant class Merchants emerged as a social class in medieval Italy Between 1300 and 1500 modern accounting the bill of exchange and limited liability were invented and thus the world saw the first true bankers who were certainly businesspeople need quotation to verify Around the same time Europe saw the emergence of rich merchants This rise of the merchant class came as Europe needed a middleman for the first time and these burghers or bourgeois were the people who played this role Renaissance to Enlightenment Rise of the capitalist Europe became the dominant global commercial power in the 16th century and as Europeans developed new tools for business new types of business people began to use those tools In this period Europe developed and used paper money cheques and joint stock companies and their shares of capital stock Developments in actuarial science and underwriting led to insurance Together these new tools were used by a new kind of businessperson the capitalist These people owned or financed businesses as investors but they were not merchants of goods These capitalists were a major force in the Industrial Revolution The Oxford English Dictionary reports the earliest known use of the word business men in 1798 and of business man in 1803 By 1860 the spelling businessmen had emerged Merriam Webster reports the earliest known use of the word businesswoman in 1827 Modern period Rise of the business magnate The newest kind of corporate executive working under a business magnate is the manager One of the first true founders of the management profession was Robert Owen 1771 1858 He was also a business magnate in Scotland He studied the problems of productivity and motivation and was followed by Frederick Winslow Taylor 1856 1915 who was the first person who studied work with the motive to train his staff in the field of management to make them efficient managers capable of managing his business After World War I management became popular due to the example of Herbert Hoover and the Harvard Business School which offered degrees in business administration management with the motive to develop efficient managers so that business magnates could hire them with the goal to increase productivity of the private establishments business magnates own SalarySalaries for businesspeople vary The salaries of businesspeople can be as high as billions of dollars per year For example the owner of Microsoft Bill Gates makes 4 billion per year The high salaries which businesspeople earn have often been a source of criticism from many who believe they are paid excessively EntrepreneurshipAn entrepreneur is a person who sets up a business or multiple businesses serial entrepreneur Entrepreneurship may be defined as the creation or extraction of economic value It is generally thought to embrace risks beyond what is normally encountered in starting a business Its motivation can include other values than simply economic ones In general usage because the distinction is not clear cut the term entrepreneur may be used as a self promoting euphemism for businessperson or it may serve to objectively indicate particular passion and risk taking in a business field Still the distinction is only one by degrees See alsoBusiness portalLook up businessperson businesswoman or businessman in Wiktionary the free dictionary Business magnate Business Entrepreneur Media proprietor Corporate Salaryman White collar worker Women in business AhahaReferences businessman WebFinance Inc 2018 Archived from the original on 2 February 2009 Retrieved 6 July 2018 businessman A person who is employed by an organization or company Businessmen are often associated with white collar jobs In order to avoid sexism or the perpetuation of stereotypes the term businessperson is often used The term businesswoman is less commonly used Roberts J M 2013 The Penguin History of the World Sixth Edition New York Penguin p 506 ISBN 9780141968728 Roberts J M 2013 The Penguin History of the World Sixth Edition New York Penguin p 509 Roberts J M 2013 The Penguin History of the World Sixth Edition New York Penguin p 510 Roberts J M 2013 The Penguin History of the World Sixth Edition New York Penguin p 558 Roberts J M 2013 The Penguin History of the World Sixth Edition New York Penguin p 559 Industrial Revolution Definition History Pros and Cons Investopedia September 2008 Retrieved 2 May 2023 businessman Oxford English Dictionary Online ed Oxford University Press Subscription or participating institution membership required Definition of businesswoman Merriam Webster Retrieved 2 May 2023 Drucker Peter 2008 Management Revised Edition New York Collins Business pp 13 Drucker Peter 2008 Management Revised Edition New York Collins Business pp 14 Drucker Peter 2008 Management Revised Edition New York Collins Business pp 15 16 Business and Financial Occupations www bls gov U S Department of Labor Retrieved 18 September 2015 Management Occupations www bls gov U S Department of Labor Retrieved 18 October 2015 Gavett Gretchen 23 September 2014 CEOs Get Paid Too Much Harvard Business Review Retrieved 18 September 2015 Entrepreneur What It Means to Be One and How to Get Started Investopedia 1 May 2006 Retrieved 2 April 2023 What is entrepreneurship Stanford Online 10 January 2022 Retrieved 2 April 2023 Starting a Business Encyclopedia com www encyclopedia com Retrieved 5 December 2021 Difference between businessman and entrepreneur Define Business Terms 19 March 2023 Retrieved 2 April 2023 The Difference Between An Industrialist Businessman And An Entrepreneur The Gritti Fund 21 February 2019 Retrieved 2 April 2023
