Lesson: Industry and Environmental Analysis: Identification of Business Opportunity:Types of Industries and Business Opportunity part 2 Flashcards
commerce in farming and farming-related activities.
refers to the agricultural products and services industry involved in growing,
processing, and distributing food.
It includes small and large-scale farming operations, farming equipment such as
tractors and harvesters, growth aids like fertilizer, food processing plants, and
distribution chains involved in shipping, storing, and selling food.
AGRIBUSINESS
ONE WAY TO REMEMBER THE KEY ELEMENTS OF AGRIBUSINESS IS THROUGH THE FOUR “F’S”:
Food
Fiber
Forest
Fuel
OBJECTIVES OF AGRIBUSINESS
Create an innovative and feasible agribusiness sector led by the private sector
Increase productivity
Commercialization of agriculture
Advance in high-potential sectors: horticulture, livestock, and fisheries
Use of modern technologies
Reducing the cost of production
Value Addition
Export Agriculture
AGRIBUSINESS SYSTEM 3 sectors:
Agricultural input sector
Agricultural production sector
Manufacturing sector
MAJOR AREAS:
Farm supplies
Production
Processing
Marketing
Research & Extension
Govt. Policies & Programmers
IMPORTANCE OF AGRIBUSINESS:
Single most important contributor to the world’s economy.
It represents approximately 1⁄4 of total world production.
Employs nearly 1⁄2 the population of the planet.
Play an important role in the economic development of most countries.
Maturing of the production sector gives rise to other sectors.
NATURE OF SUCCESSFUL AGRIBUSINESS:
Clean objectives
Planning
Sound organization
Research
Finance
proper plant location, layout, and size
Efficient management
Harmonious relations with the workers
the process of turning raw materials or parts into finished goods through the use of tools, human labor, machinery, and chemical processing.
an integral and huge part of the economy.
It involves the processing and refinement of raw materials, such as ore, wood, and foodstuffs, into finished products, such as metal goods, furniture, and processed foods.
Manufacturing
TYPES OF MANUFACTURING:
Additive Manufacturing
Advanced Manufacturing
Contract Manufacturing
This type of manufacturing is commonly referred to as 3D printing. It involves the use of
layers that are built up upon each other to create shapes and patterns in a three-
dimensional process using a special piece of equipment,such as a 3D printer.
Additive Manufacturing
This method involves new forms of technology to
improve the production process.
Advanced Manufacturing
manufacturing industry. Companies will enter into
partnerships and business relationships with other firms to outsource certain
manufacturing processes.
Contract Manufacturing
TYPES OF MANUFACTURING
PROCESSES:
Discrete Manufacturing
Process Manufacturing
Mixed Mode Manufacturing
Job Shop Manufacturing
Repetitive Manufacturing
is aptly named because each product manufactured can be specifically identified.
Discrete Manufacturing
batch process manufacturing entails manufacturing a product based on a specific standard that uses a recipe or formula
Process Manufacturing
This is often the case for goods manufactured using batch process before these standardized goods are converted to more specific individual package.
Mixed Mode Manufacturing
This process is most often used when there is a batch to process yet the batch is different than a company’s normal product.
Job Shop Manufacturing
A potential subset of other manufacturing processes, repetitive manufacturing often breaks long manufacturing processes into smaller parts.
Repetitive Manufacturing
STEPS IN MANUFACTURING:
Develop the Idea
Perform Market Research
Design the Product
Finalize and Prototype
Prototype Testing
Manufacture the Good
Monitor the Process
involves selling goods directly to customers through physical/online stores and providing them with a variety of products needed to consume in daily life.
RETAIL INDUSTRY
It derived from the french word “tailler”
that means
“to trim/cut”
“retail is selling goods in
units to sustain consumers’ needs. “
According to Kotler
RETAIL BUSINESS TYPE:
Product Retail
Service Retail
Non-store Retail
Products sold by retailers include apparel, jewelry, housewares, small appliances, electronics, groceries, and pharmaceutical products.
Product Retail
