Mgt 211 Assignment Satisfaction

 

Lecture 01   Business:Definition:

Any activity to earn profit.

The word “business” is derived from the term “busyness.”

 

Entrepreneurship

A phenomenon in which a person searches for an opportunity and try to avail it.

 

Components of business

Industry

Commerce

 

Industry

Conversion of raw material into finished goods.

This is a form utility.

 

Types of Industry

Primary Industry

Extractive Industry _ Extraction of underground resources.

Genetics _ People doing business by changing genes.

 

 

Types of industries

Secondary Industry

Construction _ Construction of buildings, roads, bridges etc.

Manufacturing _ Conversion of raw material into final goods.

Services _ Banking, consultancy, accountant, Lawyer, Interior decorator, designer, music composer etc.

 

Commerce

All those activities which start from the warehouse of the manufacturer to the buyer.

 

Types of commerce

Trade

Trade means buying and selling 

Aid to trade

Institutions that are meant and build to assist and support the trading process.

Он показался ему смутно знакомым. - Soy Hulohot, - произнес убийца.  - Моя фамилия Халохот.

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