Basel, Switzerland

Business and Technology

Master's
Language: EnglishStudies in English
Subject area: economy and administration
University website: www.unibas.ch/
Business
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.
Technology
Technology ("science of craft", from Greek τέχνη, techne, "art, skill, cunning of hand"; and -λογία, -logia) is first robustly defined by Jacob Bigelow in 1829 as: "...principles, processes, and nomenclatures of the more conspicuous arts, particularly those which involve applications of science, and which may be considered useful, by promoting the benefit of society, together with the emolument [compensation ] of those who pursue them" .
Business
The technical and commercial functions of a business are clearly defined, but the same cannot be said of the administrative function. Not many people are familiar with its constitution and powers; our senses cannot follow its workings - we do not see it build or forge, sell or buy - and yet we all know that, if it does not work properly, the undertaking is in danger of failure.
Henri Fayol (1900) Henri Fayol addressed his colleagues in the mineral industry 23 June 1900.
Technology
It is the constant attempt in this country [Canada] to make fundamental science responsive to the marketplace. Because technology needs science, it is tempting to require that scientific projects be justified in terms of the worth of the technology they can be expected to generate. The effect of applying this criterion is, however, to restrict science to developed fields where the links to technology are most evident. By continually looking for a short-term payoff we disqualify the sort of science that … attempts to answer fundamental questions, and, having answered them, suggests fundamentally new approaches in the realm of applications.
John C. Polanyi, A Scientist and the World He Lives In, Speech to the Empire Club of Canada (27 Nov 1986) in C. Frank Turner and Tim Dickson (eds.), The Empire Club of Canada Speeches 1986-1987 (1987), 149-161.
Business
In business affairs, it is the manner in which even small matters are transacted that often decides man for or against you.
Samuel Smiles. 'Men of business', Chapter 9, Self-Help (1859).
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