An organization or organisation is an entity comprising multiple people, such as an institution or an association, that has a collective goal and is linked to an external environment.

Management (or managing) is the administration of an organization, whether it be a business, a not-for-profit organization, or government body.

Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees or volunteers to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources.

The term "management" may also refer to the people who manage an organization.

Industry is the production of goods or related services within an economy.

The major source of revenue of a group or company is the indicator of its relevant industry.

When a large group has multiple sources of revenue generation, it is considered to be working in different industries.

Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and feudal economies.

This came through many successive rapid advances in technology, such as the production of steel and coal.

Insurance is a means of protection from financial loss.

It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

A professional is a member of a profession or any person who earns their living from a specified professional activity.

The term also describes the standards of education and training that prepare members of the profession with the particular knowledge and skills necessary to perform their specific role within that profession.

In addition, most professionals are subject to strict codes of conduct, enshrining rigorous ethical and moral obligations.

Professional standards of practice and ethics for a particular field are typically agreed upon and maintained through widely recognized professional associations, such as the IEEE.

Some definitions of "professional" limit this term to those professions that serve some important aspect of public interest and the general good of society.