the firm

A firm is an organization that engages in commercial activities, usually by producing goods or providing services to earn profit. Firms can vary in size—from small local businesses to large multinational corporations—and operate in various industries like retail, technology, or manufacturing. They are typically structured with a management team overseeing operations, employees carrying out tasks, and a financial system to manage income and expenses. The primary goal of a firm is to create value for its owners and stakeholders while meeting the needs of customers.