CEV70964 Business Characteristics NO ASSESSMENT · 2019-01-23 · •To identify the types of...

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Objectives

• To identify the types of businesses.

• To identify departments within businesses.

• To describe the activities each department is

responsible for overseeing.

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Main Menu

• Types of Businesses

• Human Resources &

Management

• Finance & Accounting

• Marketing, Production &

Distribution

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Types of Businesses

• Are classified by the work activities

performed

• Include:−producers

−processors

−manufacturers

−intermediaries

−service firms

−non-profit organizations

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Producers

• Develop products for distribution from raw

goods−raw goods are materials derived from natural

resources

• Examples include:−farming

−forestry

−mining

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Processors

• Change raw goods into a more finished form

• Produce processed goods

• Examples include:−cotton mills

−oil refineries

−textile mills

−food processors

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Manufacturers

• Change raw or processed goods into

finished goods

• Examples include:−juice factories

−clothing factories

−automobile

factories

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Intermediaries

• Are referred to as the middleman

• Move finished goods from one business to

another

• Buy, store and resell goods

• Examples include:−wholesalers

• buy finished goods from manufacturers in large

quantities and sell them to businesses in smaller

quantities

−retailers• buy finished goods from manufacturers or

wholesalers and sell them directly to the

consumer

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Service Firms

• Provide services to consumers and other

businesses

• Examples include:−beauty salons

−landscaping

companies

−plumbing

companies

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Non-profit Organizations

• Provide goods and services to businesses

and individuals

• Operate on donations, volunteers and

philanthropists rather than income/profit

• Examples include:−Salvation Army

−United Way of America

−American Red Cross

−YMCA and YWCA