Saturday, September 30, 2017

Business

What is business?
Business is an organization or enterprising entity engaged in commercial, industrial or professional activities which is related with continuous and regular production and distribution of goods and services for satisfying human wants. The goals of the business will vary based on the type of business and the business strategy being used. Regardless of the preferred strategy, businesses must provide a service, product, or good that meets a need of society in some way.

3 Types of Business
There are three major types of businesses:
1. Service Business
A service type of business provides intangible products (products with no physical form). Service type firms offer professional skills, expertise, advice, and other similar products.
Examples of service businesses are: salons, repair shops, schools, banks, accounting firms, and law firms.
2. Merchandising Business
This type of business buys products at wholesale price and sells the same at retail price. They are known as "buy and sell" businesses. They make profit by selling the products at prices higher than their purchase costs.
A merchandising business sells a product without changing its form. Examples are: grocery stores, convenience stores, distributors, and other resellers.
3. Manufacturing Business
Unlike a merchandising business, a manufacturing business buys products with the intention of using them as materials in making a new product. Thus, there is a transformation of the products purchased.
A manufacturing business combines raw materials, labor, and factory overhead in its production process. The manufactured goods will then be sold to customers.

Business I would like to run
If I have enough capital I want to run a business like my big family that is oil business. this business may be trivial but not many know that the income from this business is very large because the number of vehicles in Indonesia is very much and of course the vehicle requires oil. My first step is to open a branch of my family business and hire employees to collect and process used oil, be a suplier to a big company. I also want to establish cooperation or work in pertamina and I want to open my own gas station, like my uncle do.