Types of Business

                           

  Types of Business

  There are many forms of business which exists all over the world. A brief description of these forms of business is described below:

 - Manufacturing Business:

  Manufacturing refers to those businesses which take raw material from other business and process it to make a finished good. Examples of such industries include cement factories, car producing factories, food processing units, shoe manufacturing companies etc. Manufacturing businesses can be classified into the following categories:

  a)  Extractive Units:

        Extractive units is concerned with supplying commodities, which are extracted from earth like as oil and metals. The products of these industries are generally used by manufacturing and constructive industries for making sale able products.

  b)  Genetic Units:

        Genetic units refers to industry under which plants and animals are grown for the purpose of sale to the consumers such as fishing, poultry and cattle forms etc.

  c)   Conversion Units:

         Conversion units refers to those business which are working by converting the raw material through defined processes into the finished goods.

    ( THE FOOD PRODUCT CHAIN )

At first step the milk is collected in a dairy form from the cows. At second step the milk is boiled in a factory and packed. At third step, the milk is distributed through trucks to the retailers and the restaurants. At fourth step, the the consumers buy milk from the retailers and use it in their homes or served to the consumers in restaurants with tea or coffee.

 

   

- Services Business:

    It refers to all those types of businesses which provide various useful services to the people. The service sector businesses include banks, insurance companies, law firms, doctor, engineers, advertising agencies, television, radio channels etc.

Services can be divided into three following categories:

a.   Recreational Services:

      Recreational service refer to the services provided by a business for the entertainment purposes. These include movies, theater, tourism, telecom etc.

b.   Personal Services:

      Personal service include the services provided by a business for meeting various individuals needs. These include restaurant, retailing, doctors clinic etc.

c.   Professional Services:

      Professional service refer to the different services for supporting other business activities. these include lawyers, charted accountants,tax practitioners etc.

       

        ( DIFFERENT SERVICE BRAND OF TELECOM BUSINESS IN WORLD )

 - Trading Business:

    It refers to the exchange or buying and selling of commodities; especially the exchange of merchandises on a large scale, between different places or communities; extended trade or traffic includes all those activities which help directly or indirectly in the distribution of goods to the end users. It is also called merchandising. Trading activities can be classified into the following categories:

a)  Domestic Trade:

     Domestic trade refers to those business which are involved in the buying and selling of goods within the boundaries of a country.

b)  Foreign Trade:

     Foreign trade refers to those businesses which are involved in the buying and selling of goods outside the boundaries of a country and is generally called exporting.

c)  Retail Trade:

     Retail trade refers to those business involved in buying and selling of goods to the general consumers for the purpose of consumption. the business carrying out such activities are called retailers.

d)  Wholesales Trade:

     Wholesales trade refers to the buying and selling of goods usually in bulk quantities to the retailers.