Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.
Business informatics (BI) or organizational informatics is a discipline combining information technology (IT), informatics and management concepts. The BI discipline was created in Germany, from the concept of Wirtschaftsinformatik. It is an established academic discipline including bachelor, master, diploma and PhD programs in Austria, Belgium, France, Germany, Ireland, The Netherlands, Russia, Sweden, Switzerland, Turkey and is establishing in an increasing number of other countries as well as Australia, Malaysia or Mexico. BI integrates core elements from the disciplines of business administration, information systems and computer science into one field.
Informatics is a branch of information engineering. It involves the practice of information processing and the engineering of information systems, and as an academic field it is an applied form of information science. The field considers the interaction between humans and information alongside the construction of interfaces, organisations, technologies and systems. As such, the field of informatics has great breadth and encompasses many subspecialties, including disciplines of computer science, information systems, information technology and statistics. Since the advent of computers, individuals and organizations increasingly process information digitally. This has led to the study of informatics with computational, mathematical, biological, cognitive and social aspects, including study of the social impact of information technologies.
Information is any entity or form that provides the answer to a question of some kind or resolves uncertainty. It is thus related to data and knowledge, as data represents values attributed to parameters, and knowledge signifies understanding of real things or abstract concepts. As it regards data, the information's existence is not necessarily coupled to an observer (it exists beyond an event horizon, for example), while in the case of knowledge, the information requires a cognitive observer.
When action grows unprofitable, gather information; when information grows unprofitable, sleep.
Ursula K. Le Guin (b. 1929), American Science Fiction author. The Left Hand of Darkness, Ch. 3 (1969).
In 2007, for the first time ever, more information was generated in one year than had been produced in the entire previous five thousand years - the period since the invention of writing.
Jaap Bloem, Menno van Doorn, Sander Duivestein, Me the media: rise of the conversation society, VINT editions (research institute of Sogeti), 2009, p. 270.
Somewhere in the past. organizations were quite simple, and 'doing business' consisted of buying raw material from suppliers, converting into products, and selling it to customers... For the most part owner-entrepreneurs founded such simple business and worked along with members of their families. The family-dominated business still accounts for a large portion of the business start today.
R. Edward Freeman (2007) Strategic Management: A Stakeholder Approach p. 5