Many scholars around the globe have tried to give meaning to the word business where the most common description upheld is the ability to raise an income at the end of the period. Different people all over the world will form so many types of business where the most common business formation being a sole proprietorship, partnership or corporation. Just like any other department in a country, a business also will be dictated by several rules and regulations where this will be determined by a nation or state to which the business is to be formed. Where some people will follow all the rules and regulations that help in running a business some people will bend the rules to their benefits and not conform to all the standards stated. There have been cases of business cessation resulting from not conforming to all the rules that govern a business which s well demonstrated by Dr Adil Baguirov with his shell companies. This follows the entrepreneur to use his/ her resources to help cover for the shell companies where in some states may be a federal crime. Renowned Adil Baguirov Dayton is faced with a decision of stepping down from a school board before his time expires as this is brought by dishonesty in his dwelling place notified to the public.In Some business, there are restrictions such as one to reside in the same state as the business is running which is a restriction that many of the entrepreneurs will lack adhering to.
Candidness and truthfulness must be one of the virtues to be upheld by a businessman where the dealings or the activities of the business must coincide with the customer’s knowledge or the registrar of companies. Business requires one to be open on his dealings as needed by all the rules that govern activity in a specific state where dishonesty will be charged as an ultra is just like Adil Baguirov Dayton faces today. Any company or business will strive with a good image where a company or a business with a broken image will have troubles excelling. Values in a business such as trust and integrity goes a long way when clients and investors will feel the business have their interests at hearts thus will build good relations. Reputation growing to be bad might make a company suffer from pulling out of the investors in such a case of the Dayton where the investors might shock the corporation.
Every business must have some values that drive the company or an entity for it to succeed with the most common values being integrity, idealism, self-discipline, just to mention but a few. Journals and magazines have been printed out showing some of the biggest companies all over the world and inclusive of hard work they have portrayed a number of values that a business should always follow.