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The dimension and scope of the business agency and its construction, administration, and possession, broadly analyzed within the concept of the firm. Generally, a smaller business is more flexible, whereas bigger companies, or these with wider ownership or more formal buildings, will normally are typically organized as firms or partnerships. In addition, a business that needs to raise money on a inventory market or to be owned by a variety of people will typically be required to undertake a specific legal form to do so. The efficient and effective operation of a business, and study of this topic, is called management.

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