. This is a new fresh article about “business information”. Here we post all about business related articles. Today in this article discusses about, What is business? Type of business, Type of business organization, Type of businessIndustry. Some basic import key in business, and Organization rules and Regulations(business information)
1 What is Business??
Business an organization or economic system that use economic resources or any other input to provide goods or services to the customers in exchange for money or other goods and .
A business not only money making process it’s prodivid value adding in our life. Simple put any type of activity like street peddler to big company or any job is a business. Ancient to now modern days we live in a business ocean.
The business organization comes in different types.
2 Type of business:
There are four types of business.
- Manufacturing Business:
Manufacturing is a process which produced raw material to finished goods. The manufacturing business is a combination of labor, raw-material all other overheads including a product.
This type of business making profits selling the product at price higher Comparison their production cost.
Examples,Tata motors, Nestle’s Unilever, etc.
- Service Business:
This type of business provides intangible products (products no physical form). A service type business sells any type of services. This business offers professional skills, expertise advice and other similar products.
Examples: education, tourism, Beauties salons, Bank, law firms, etc.
- Merchandising Business:
A merchandising Business buys products at wholesale prices Comparison sells the higher price or retail price. This type of business known as “buys and sells” business. A merchandising product sells without any changing its form.
Now days merchandising business presence online and offline both market.
- Hybrid Business:
A hybrid business is a combination of two or more types of business. This type of business can make a combination of manufacturing, service and merchandising business.
A restaurant is an example of Hybrid business, the restaurant makes a fine meal(manufacturing), selling a cold bottle of beer (merchandising) and fill customer orders (services), in the restaurant business combination of three types of business.
3 Type of Business organization:
Manly are basically four types of business organization.
- Sole proprietorship:
A sole proprietorship business own by only one person. It’s very easy to set up and least costly among all forms of business organization. The business is not a separate personality form it’s the owner. This type of business is not required separate PAN (permanent account number), the owner PAN card is the business PAN card. Sole proprietorship business not required any unique business name. The owner can use her name as a business name.
A business owner faces unlimited liability, meaning the creditors of the business may go after the personal assets of the owner if the business cannot pay them. Sole proprietorship business usually suitable for small business.
A partnership business owned by two or more persons who contribute resources into the business. The partners divided the business profits depending at present of shares in the business. A partnership business is divided into two parts.
- General partnership business.
- Limited partnership business.
- In the general partnership business partners all of face unlimited liability, liability doesn’t depend on investments value.
- In limited liability partnership has limited liability, the creditors can not sell after the personal assets if the business cannot pay them. The limited partnership business liability depends on investments value.
A corporation is a business organization that has a separate legal personality form its owner. A corporation business can own by public or private. In public corporation limited ownership of the corporation is represented by “shareholder.” The public limited corporation shareholder enjoys limited liability and has limited involvement in company operations. The company operations control by the board of directors and board directors are selected from stockholders. This type of organization is very common today.
Cooperative words divided two parts “co” and “operative”. A cooperative is a business owned by a group of people. The business operation control by group members. This type of business manly operated for mutual benefit. Group every person called is a member.
The cooperative business may be divided into two types.
- Incorporated business
- Unincorporated business
Examples of cooperative business are water and electricity. IFFCO is one of the largest cooperative companies. In IFFCOhas 40000 members.
4 Type of industrial sectors
- Agriculture Industry:
Fish, animals, livestock, farmers, wood, petroleum, natural gas, etc. are in the agriculture industry.
- Service Industry:
Banking, brokerage firms, credit cards, etc. are in the service industry.
- Entertainment Industry:
Media, film studios, production houses etc.
- Engineering Industry:
it’s a very vast Industry. The manufacturing industry, real estate, etc.
- Textile Industry:
Indian textile industry is one of the oldest industries in India.
- Chemical Industry:
Pharmaceuticals and biotechnology and many are in chemical industries.
- Transportation Industry:
Bus, train, air, etc are in the transportation Industry
5 Some Basic Import key in Business:
Finance is very important to key any business. Without financial support, any business can’t run in a long time. Finance is a field of studies deals with investment knowledge. Financial studies help to understand what is different between assets and liability.
Accounting is the study of measurement of processing and communication of financial information about the economic system. The modern accounting established by the Italian mathematician Luca pascali in 1994.
Manufacturing is an import key in business. It is a knowledge of producing any type of physical product.
Marketing is the process of planning and executing the conception pricing, promotion, and distribution of goods and services to create an exchange that satisfied individuals and organizations goals.
Marketing can create demand for company products. The marketing manager responsible for demand management. It helps to understand the customer’s behavior.
The market is four types.
- Business Markets
- Consumer Market
- Customer Market
- Non-profits or government Market.
- Non-profits or government Market.
This is a very important activity in a business. Sales are a process amount of goods or services sold in a given time period. It is a very important success key of the business.
Safety is a study of processing which helps to introduce safe business.
6 Organization Rules and Regulations:
Seven very important business laws
- Tax Rules
- Employment and Labor Law
- Antitrust Law
- Advertising Law
- Environmental Regulation
- State Licensing.
7 Objective of the business:
The business objective it’s very important for every business. The objective should be meeting the flowing criteria.
- Realistic (R)
- Time specific (TS).
What are the sources of business information?
How do I find information on a business?
What are the 6 types of business activities?
What is business and its types?
What is business information management?
How do you present a business plan?
How do I find the owner of a business?
Who is the owner of the business?
How do you find out if a business is incorporated?
What is a business information system?
What are the purposes of the information?
What is external data in business?
How do you determine if a company is public or private?
How can I verify a company is legitimate?
How can I check if a company is registered in the USA?
What are the 3 types of business?
What are the 3 types of business activities?
What are the 7 business activities?