The recent past has witnessed the steady growth of anthropology as a discipline along with its application in various fields. One of the most talked‐about fields of applied anthropology is anthropology in business. The world has recognized that business is not just an economic endeavor but is also an activity that has a human angle. Hence, neoclassical principles have replaced classical thinking. More and more organizations are embracing research to understand the people side of their businesses. For this, anthropologists are being hired to investigate vital processes such as organization policies, product design, corporate culture, leadership, consumer behavior, and so on. This entry discusses the theoretical concepts and meanings of this recently arrived discipline of business anthropology and goes on to probe its contribution to business in the twenty‐first century. Further, it also elaborates the relevance and practical issues faced by business anthropologists in the newly emerging branches of business anthropology.