Business is defined as value-creating activity by an
individual or organization for profit. An example of a business would be General Motors
(GM), a company that engages in production and worldwide sale of
automobiles.
Commerce refers to the whole system of an
economy that provides the environment in which business activities occur. The commerce
in which GM conducts business would be the collective populations and economies of
countries comprising the free world.
Occupation is a
person’s means of making a living. Associated and closely related terms are as
follows:
Employment = being under service of another for
hire
Job = regular activity performed for
payment
Vocation = occupation to which an individual is
especially drawn
Profession = a vocation requiring
specialized training
Career = a life course of employment
activity
To answer your question, business organizations
perform value-creating activity within an environment of business commerce. Individuals
of various occupations work for hire as employees of the business organization
(employer). They perform the work that creates the value produced by the organization.
Workers having the various occupations within the business perform the services or make
the products that constitute the output of the business
organization.
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