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""Business can be defined as a process that converts an outside resource, namely knowledge, into outside results, namely economic values."" (Peter F. Drucker, Managing for Results, Harper, 1964, page 5)

A business is an application of resources to create products and services to meet the market needs, in relation to the competitors. (Stanley M. Davis, Future Perfect, Addison Wesley,1987)

""A business ... transforms matter, energy, and information from one state into another with the goal of making a profit."" (Eric D. Beinhocker, The Origin of Wealth, Harvard Business School Press, 2006, pg 280)