What is Business Activities and How many types of Business Activities
In this post I want to deliver you what is Business and How many types of business Activities. Some of the characteristic of Business.So, let's go out our today topic.
.jpeg "Types of business")
What is Business? Define Business.
Business is an economic activity which involves continuous and regular products, and distribution of goods and services for satisfying human wants.
Human beings are regularly engaged in activity to satisfy their wants. Business has become an essential part of the modern world .We get to hear the words "business" or "businessman" everyday.
A business is an organisation or economic system where services and good for one another and people who do businessman
What are the different types of Business?
There are three major categories of business:-
1.Service Industry
2. Manufacturing Industry
3.Hybrid Industry
Service Industry
The service industry produces in tangible product ( products with no physical form) but are essential for modern day life. This industry provide professional skills, expertise, advise and other similar products such as customer service, management, knowledge, design data and experiences.
Examples of service Industry-
Insurance, repair shops, school ,banks, accounting firms, law firms ,etc.
.jpeg "What are business |types of business")
More examples of service industry include -
Information technology
Hospitality
Education
Travel
Transportation
Media
Entertainment
Sports
Insurance
Culture
E-commerce
Marketing and sales
Finance ,etc.
Manufacturing business
In manufacturing businesses,different components ,parts or raw materials are used to produce or make finished goods. These finished goods are there sold directly to consumer or to other manufacturing businesses that use them for making a different products
Types of Manufacturing business
Clothing and textiles:-These are the industries which process raw wool, cotton and flax to make cloth which is further used for making clothing,outerwear,upholstery fabrics and bedding ,etc.
Petroleum and chemical industry:-These are the industries where chemicals, coal and crude oil are turned into products, along with making of soaps resin ,paints,pesticides and medicines, etc.
Food production :-It includes all forms of food products i.e., from the farm to the dinner table. It includes works such as canning and purifying.
Metal manufacturing :-Like oil and chemical manufacturing, metals belong to the heavy industry. The production of metals include all form of iron ,almunium and a steel manufacturing, as well as forging, engraving, coating and stamping of metals.
Wood,Leather and paper :-Wood production includes manufacturing of floors or housing, as well as sawing and laminating. The leather industry include tanning and curing. The paper production process involves the cleansing of RAW wood pulp into variety of paper product.
Hybrid business
Hybrid business is an enterprise that does not only use the traditional methods of distribution but also make you job internet technology, in order to expand its market and make service or products more accessible to the consumers.
This type of businesses has grown at very fast face in the last few years. E-Commerce has brought the market place to the people's homes. Nowadays, many traditional enterprises are turning into hybrid business. Even the online transaction has become more secured which have increase consumers' confidence and his also increased commercial activities.
What are the features/characteristic of business
Trading of goods and services
Involves numerous transaction
Main objective is profit
Involves business skills
Risk and uncertainty
Buyer and seller
Marketing and distribution of goods
Consumer satisfaction
Deals in goods and services
In business in goods and services. Goods can be divided into two categories-
Consumer goods -
The products which are used by final consumer for consumption are called consumer goods for example TV,soaps,etc.
Producer good
The products which are used by producer for further production are called producer good for example machinery, equipment etc.
.jpeg&description=What is Business Activities and How many types of Business Activities | What is Business | Types of Business Activities | Features and characteristic of Business){kind=link}
0 Comments
I you have any problem regarding this information please ask in comment section.