Business Operations : Business Operation

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BUSINESS OPERATION TASK 1 There are several types of businesses worldwide. The organization operates by the Government or Semi Government is known as the public sector organizations whereas private entrepreneurs operated public sector organizations. These public sector organizations are either privately owned or by the public. The economy consists of the following three types of sectors globally: Raw Material: It is the primary sector of the economy and makes direct use of the natural resources. Agriculture, forestry, fishing, mining are some examples of this sector Manufacturing:. It is called as Secondary sector of the economy or industrial sector and produced finished or tangible goods. This sector takes the output of the primary sector and produce finished products. This sector is divided into light industry and heavy industry. Cement, Sugar, Textile etc are some sectors that falls into this category. Services: It is called Tertiary sector of an economy and is also known as service sector or service industry. It is the soft part of the economy and provides intangible goods. Examples of this part of economy are Government, Hospitals, Insurance, Banks, Lawyers and Educational Institutes etc. Irrespective of the type of economic sector it is either public owned or private owned. In developed countries tertiary sector has clutched the market significantly where as the primary sector has the major share in the economy of under developed countries. Canada is

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