Report on Classification Of Business
Classification of Businesses according to their types of activity:
Primary Sector Businesses: The gathering of raw materials, such as fish, oil, or coal from the land or sea or growing using the earth to grow things such as crops or trees
Examples: Rio Tinto (Mining), JCI Gold (Mining), Anglo Amer (Mining),
BP (Oil and Gas), and Soco International (Oil and Gas).
Secondary Sector Businesses: The processing of raw materials into finished goods. Examples of this are food production, computer component manufacture, and car manufacture.
Examples: Schweppes (Food and Drink), Unilever (Food and Drink), Intel
(Computer Component Production) and Ati (Computer Component
Production).
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Currently the top company in the UK using this method is;
HSBC Group (Banking) ($M673, 474)
Definitions of Business Localities
Local: Businesses trading within, and not exceeding the bounds of the local area, normally defined as within a county or town.
National: Businesses trading within, and not exceeding the bounds of one country.
International: Businesses trading worldwide, between two or more countries. Classification of Business according to their objective(s):
A profit driven business would have its only, or more commonly, its main objective set as making as much money as possible. A non-profit driven business would have different objectives, such as to survive, or, in the case of the business being a charity, to give as much money as possible to needy causes.
An example of a profit driven business is Microsoft Corporation
(Software), with a turnover of $Thou 25,296,000
An example of a non-profit driven business is the MOD (Ministry of
Defence), the main aim being to provide a defence service.
Report on Two Businesses in my local area:
The two businesses I have chosen to report on are: Marks & Spencer
Plc, and Marconi.
These are both international businesses, but both have local branches.
Marks & Spencer Plc is an international retailer with 718 locations across 34 countries. The business sells clothing,
Such industries that provide services and/or good to the economy to sell, trade, make profit would include the:
Location - where regional divisions of the business take responsibility for a specific function or particular products, whether locally, nationally or internationally
History has explained the fact that at one point in time, the earth's natural resources had no limit. Raw materials were plenty, because of the fact that there were plenty of natural resources to go around. Natural resources can be identified as the raw materials that comes from the earth and are useful. Natural resources can never be made by humans. Athough, these raw materials can be modified, or altered to benefit corporations and businesses. For example, natural resources are fossil fuels like petroleum, natural gas, and coal. Minerals like diamonds, gold, and copper are natural resources that come from the earth. Other resources are known as natural vegetation, like forests and timber. Animals are our earth's natural resources as well, like salmon, deer, whales, chickens, etc. The air we breathe, and the wind are all also natural resources. Water, like lakes, rivers and
Barth, Chris. "ING Direct Gets A New Name Following Capital One Acquisition."Forbes.Com (2012): 18. Business Source Premier. Web. 8 Nov. 2013.
The world’s increasing globalization requires more interaction among people from a wide variety of cultures, values and backgrounds. People no longer live and work in a one-dimensional marketplace- they are living in a highly complex and competitive environment that has growing demands of innovation in order to perform successfully amongst other industries. Business and organizations need to respond to this new diverse landscape, and the best corporations increasingly align with it. A strong diversity initiative and inclusion in an organization is crucial in remaining competitive in the current business world. Diversity is in the workplace is claimed to foster and spark creativity and innovation in employees. On the other hand, it is perceived to increase conflict and communication in an organization. Thus, in theory, diversity is allegedly advantageous to worker productivity, though counterproductive in work-group processes and dynamics. However, there is a lack of validity and reliability in the empirical research conducted to support this assumption.
more traditional sources such as coal or natural gas. In the article The Cost of
In order to demonstrate that you are serious about social responsibility it is important to fully communicate your values using very specific language and examples.
The provision and use of personal protective equipment could include using gloves, glasses, earmuffs, aprons, safety footwear, dust masks.
The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization.
Shania Jackson is interested in starting a Christian coffeehouse near Denver, Colorado. A few family members and an acquaintance, both believers and nonbelievers, have expressed interest in investing and become a part of her business. She has researched franchise opportunities with various stipulations as a method for starting her business. She is also considering naming her business “The Gathering Place”.
The ocean is one of Earth's most valuable natural resources. It provides food in the form of fish and shellfish—about 200 billion pounds are caught each year. It's used for transportation—both travel and shipping. It provides a treasured source of recreation for humans. It is mined for minerals (salt, sand, gravel, and some manganese, copper, nickel, iron, and cobalt can be found in the deep sea) and drilled for crude oil.
Continuously a hot topic in higher education is the assurance of learning. Do the students who have graduated actually have the skill they were promised? The case study focused on business writing in an MBA program and presented a perspective, five steps for improvement for MBA students’ writing skills. Furthermore, the study provided examples used in the assessment process as well as data analysis used close the circle in the learning cycle. Consequently, the study finished with ideas for future improvement and lessons learned in the process.
Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.
Despite being an intimidating prospect for most people, there are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not so much. There are many steps to starting and running a business, but many of them can be easily accomplished simply by filling out some forms, and several small fees.
Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the