Too bad you haven't learned by now that words are defined in dictionaries. Socialism is: "a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole."
No dictionary defines any word. No dictionary owns any word. However, the definition of socialism that you gave is only partly accurate. The 'community as a whole' is just a buzzword for 'government'.
The three major forms of socialism are: fascism, communism, and slavery. ALL are based on theft.
Fascism is government manipulation of markets. Though the word itself was coined by Mussolini, it's practice existed long before his time. Under fascism, people still 'own' businesses and property but get little to no say in how to run them. Government dictates what you will buy, what you will sell, how much your sale prices will be, who you can hire, who you can fire, your hours of operation, etc. It is tyranny.
Communism is government ownership of markets. Government OWNS the business or property, taking it by force. Welfare is communism. It is taking wealth by force from the productive and giving it to the unproductive. It is NOT charity. It is tyranny.
Charity is the VOLUNTARY giving of wealth to another. There is no compulsion.
Slavery is, of course, theft of labor (a form of wealth).
Because socialism is based on theft of wealth, it generally can only be implemented by oligarchy or dictatorship.
Capitalism is the only economic system that can create wealth out of nothing. It needs no government at all for it to function. It is the VOLUNTARY production of wealth and services for VOLUNTARY sale at the VOLUNTARILY agreed upon price. This is the economic system that built cities out of the wilderness.
Socialism can only exist by stealing from capitalism. As soon as it runs out of places to steal from, socialism collapses.