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20-525: Many Russian government officials and successful businesspeople reside in the gated communities of Rublevka. Real-estate prices there are among the highest in the world. The New York Times called it "home to the sprawling villas of Russia's ruling class". Rublyovskoe Highway has been a place for the privileged ever since it was the Tsars road in the 16th century: for the entire Romanov dynasty. Russian rulers Mikhail Fyodorovich , Aleksey Mikhaylovich , Peter

40-435: A businessman or businesswoman depending on the gender, is an individual who has founded , owns , or holds shares in (including as an angel investor ) a private-sector company. A businessperson undertakes activities (commercial or industrial) to generate cash flow , sales, and revenue by using a combination of human , financial , intellectual , and physical capital to fuel economic development and growth. Since

60-448: A "businessman" can mean anyone in industry or commerce , businesspeople have existed as long as industry and commerce have existed. "Commerce" can simply mean "trade", and trade has existed through all of recorded history . The first businesspeople in human history were traders or merchants . Merchants emerged as a social class in medieval Italy (compare, for example, the Vaishya ,

80-484: A new kind of businessperson, the capitalist . These people owned or financed businesses as investors, but they were not merchants of goods. These capitalists were a major force in the Industrial Revolution . The Oxford English Dictionary reports the earliest known use of the word "business-men" in 1798, and of "business-man" in 1803. By 1860, the spelling "businessmen" had emerged. Merriam Webster reports

100-581: A small stretch of highway that is only 35 kilometers long. During the Soviet period, General Secretary Leonid Brezhnev may have gone for a walk and encountered Aleksandr Solzhenitsyn , who was being hunted by the KGB and hiding out at Mstislav Rostropovich 's dacha . . In the mid-1990s, Rublyovka, which borders on the pristine and well-forested bank of the Moscow River was swiftly privatized by stars of show-business,

120-404: Is a person who sets up a business or multiple businesses ( serial entrepreneur ). Entrepreneurship may be defined as the creation or extraction of economic value . It is generally thought to embrace risks beyond what is normally encountered in starting a business. Its motivation can include other values than simply economic ones. In general usage, because the distinction is not clear-cut,

140-643: Is also a wedding palace and a concert hall. Gated communities include Tagankovo. The area is known for its residents' high net worth. It was revealed in January 2020 that Mikhail Mishustin and his wife own a property in Rublyovka. Mishustin was named by President Vladimir Putin in January as the nominee to become the next Russian Prime Minister . 55°45′35″N 37°20′45″E  /  55.75972°N 37.34583°E  / 55.75972; 37.34583 Businesspeople A businessperson , also referred to as

160-541: The United States , the private sector is wider, and the state places fewer constraints on firms. In countries with more government authority, such as China , the public sector makes up most of the economy. States legally regulate the private sector. Businesses operating within a country must comply with the laws in that country. In some cases, usually involving multinational corporations that can pick and choose their suppliers and locations based on their perception of

180-571: The demi monde , officials and industrial magnates, and turned into a kind of a !millionaires' ghetto", or a Russian Beverly Hills , "where it is outrageous not to be good-looking". The district is 40 minutes to Moscow via a two-lane paved road; however, the road is sometimes closed due to travels by Vladimir Putin and other important Russian officials. There is a high-end shopping mall , Barvikha Luxury Village, where such brands as Prada , Gucci , and Dolce & Gabbana are offered. The mall includes Bentley and Ferrari / Maserati dealerships. There

200-552: The government . The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money, i.e. operate by capitalist standards. A 2013 study by the International Finance Corporation (part of the World Bank Group ) identified that 90 percent of jobs in developing countries are in the private sector. In free enterprise countries, such as

220-740: The Great and Catherine the Great made pilgrimages to the Savvino-Storozhevsky Monastery by this road. Also this picturesque area was always the favorite place for the royal falcon hunting. Here, near the sovereigns, the Russian nobility also made their homes, particularly the Princes Yusupov , Shuvalov and Golitsyn . At the time of the Russian Revolution in 1917, the Zubalov family owned

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240-469: The earliest known use of the word "businesswoman" in 1827. The newest kind of corporate executive working under a business magnate is the manager. One of the first true founders of the management profession was Robert Owen (1771–1858). He was also a business magnate in Scotland. He studied the "problems of productivity and motivation ", and was followed by Frederick Winslow Taylor (1856–1915), who

260-525: The environment than the minimum that is legally required of them. There can be negative effects from the private sector. In the early 1980s, the Corrections Corporation of America pioneered the idea of running prisons for a profit. Today, corporate-run prisons hold eight percent of America's inmates. Since it is from the private sector, their main priority is not rehabilitation, but profit. This has resulted in many human rights violations across

280-486: The estate Rubllevka . The area was where the dachas of Lenin and Stalin were located, as well as the summer residences of all the subsequent general secretaries, from Nikita Khrushchev to Mikhail Gorbachev . Their sidekicks also settled here ( Anastas Mikoyan , Felix Dzerzhinsky , Nikolai Yezhov ) – side-by-side with famous scientists, artists and writers ( Mstislav Rostropovich , Andrei Sakharov , Dmitry Shostakovich ), and foreign diplomats. And they all lived on

300-448: The goal to increase productivity of the private establishments business magnates own. Salaries for businesspeople vary. The salaries of businesspeople can be as high as billions of dollars per year. For example, the owner of Microsoft , Bill Gates makes $ 4 billion per year. The high salaries which businesspeople earn have often been a source of criticism from many who believe they are paid excessively. An entrepreneur

320-466: The people who played this role. Europe became the dominant global commercial power in the 16th century, and as Europeans developed new tools for business, new types of "business people" began to use those tools. In this period, Europe developed and used paper money , cheques , and joint-stock companies (and their shares of capital stock ). Developments in actuarial science and underwriting led to insurance. Together, these new tools were used by

340-458: The regulatory environment, local state regulations have resulted in uneven practices within one company. For example, workers in one country may benefit from strong labour unions , while workers in another country have very weak laws supporting labour unions, even though they work for the same employer. In some cases, industries and individual businesses choose self-regulation by applying higher standards for dealing with their workers, customers, or

360-439: The term 'entrepreneur' may be used as a (self-)promoting euphemism for 'businessperson', or it may serve to objectively indicate particular passion and risk-taking in a business field. Still, the distinction is only one by degrees. Private-sector The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit , rather than being owned by

380-497: The traditional merchant caste in Indian society). Between 1300 and 1500, modern accounting, the bill of exchange , and limited liability were invented, and thus, the world saw "the first true bankers", who were certainly businesspeople. Around the same time, Europe saw the " emergence of rich merchants. " This "rise of the merchant class" came as Europe "needed a middleman" for the first time, and these "burghers" or " bourgeois " were

400-511: Was the first person who studied work with the motive to train his staff in the field of management to make them efficient managers capable of managing his business. After World War I , management became popular due to the example of Herbert Hoover and the Harvard Business School , which offered degrees in business administration (management) with the motive to develop efficient managers so that business magnates could hire them with

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