Lesson 2 Flashcards
Provides Intangible Products
( Products with no Physical Form )
offer professional skills, expertise, advice and other similar products
SERVICE BUSINESSES
Forms of Service Business:
Service Businesses
Financial businesses
Transportation Businesses
Utilities
Offer Intangible goods and services and typically charge for labor or other services provided to government, to consumers, or to other businesses.
Service Businesses
Include banks and other companies that generate profits through investment and management of capital
Financial businesses
Deliver goods and individuals to
their destination
Transportation Businesses
produce public services such as electricity or sewage
treatment
Utilities
Type of business buys products at wholesale price and sells the same retail price
Also known as the “Buy and SELL Businesses
They make a profit by selling the products at prices
higher than their purchase costs
sells a product without
changing its form
MERCHANDISING BUSINESSES
Acts as middleman and get goods produced by
manufacturers to the intended consumers.
They make their profits by marking up their
profits by marking up their prices,
RETAILERS AND DISTRIBUTORS
Buys products with the intention of using them as
materials in making new product.
There is transformation of the product purchased
combines raw
materials, labor, and factory overhead in its
production process and manufactured goods will
then be sold to customers.
MANUFACTURING BUSINESSES
Forms of Manufacturing Businesses:
Agriculture and mining businesses
Manufacturers
Real-Estate Businesses
Information Businesses
Are companies that may be classified in more than one type of business
HYBRID BUSINESSES
According to ____________ said that starting a business
of your own is “ Divine Activity
Ralph Waldo Emerson
A sense of responsibility meaning:
“DO THE RIGHT THING AND
DO IT WELL”
A new way of saying “DO THE RIGHT THING AND
DO IT WELL”
“ DO WELL BY DOING
GOOD”.
purpose of establishing a business enterprise?
Aim High to get your business soar high. Keep the right values in business while adjusting strategies along the way.
Reasons why people start create a business?
To make money and have Financial Independence
To be your own Boss
To Self-Actualize/ To fulfill Own interest and Enjoyment
To Make your dreams come true
To use your skills and knowledge for yourself
To have a second career
To have a variety of work
To create opportunities
To employ relatives, friends and community members
To take up a challenge
To come up with better ways, To create, To Innovate
To be efficient at work
To set and meet own deadlines
To avoid commuting
To create a customer
To offer value
To have more life, more freedom
To solve problem
To move Society, To change the
world, To make the World Better
To build our future
Ralph Waldo Emerson said that starting a business of your own is a “ Divine Activity “,
What is that means according to him?
Aim high to get your business soar high. Keep the right values in business while adjusting strategies along the way
