Overview of business INDEX Types Of Business Industrial Sector Globalization Definition: Business is an economic activity involving the regular production or distribution of goods and services with the objective of earning profits through the satisfaction of human wants. Types of business: 1.Service 2.Manufacturing 3.Trade Service Service industry is the major type of business running in India. Examples – entertainment, consultancy, banking, telecommunication, call centres, KPO, etc.Service is different from manufacturing and trading of goods. Manufacturing In manufacturing, the items are produced using raw materials with the help of different engineering process and technologies. Other business depend on manufacturing. Hence it is very important. Example- machines, automobiles, stationary, etc. Trade These enterprises are concerned with the distribution of products i.e. sale of products , distribution, transfer, exchange of goods to business houses as well as consumers. Trading enterprises may be found operating in form of : Wholesale Retail Import and export Investment trusts, etc. Types Of Industrial Sector Trade Automobile Cement Chemicals Pharmaceuticals Engineering goods Jute Iron and steel Village industries Petrochemical Rubber & leather products Small scale industries Sugar Tea Textile Agro based Food based Handicrafts, etc. Engineering Industry Engineering industry mainly deals with: Design Manufacture Operations of structures, machines, or devices. This industry primarily includes sectors like: Civil Computer and IT Industrial Electrical Mechanical Chemical Process Industry The process industries do different processes on the raw material to produce the final product. The process could be either continuous or occur on a batch of materials. Examples: Wood and wooden products Chemicals Paper Textile Coal Rubber Plastics, etc. Textile Industry Textile industry deals with design and manufacturing of clothing products. Indian textile industries are one of the leading in the world. It includes following sectors: Cotton Jute Sericulture Wool and woollen Man made fibre/ filament yarn IT Industry Information technology (IT) industry in India has played a key role in putting India on the global map. IT industry in India has been one of the most significant growth contributors for the Indian economy. Major IT companies are: Infosys Accenture Cognizant CMC Wipro Oracle, etc. Globalization Globalization (or globalisation) is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. Globalization has allowed companies to increase their base of operations. It has supported companies to expand their workspace with relatively small investments and provide novel services to a wide range of consumers.

2. INDEX
Types Of Business
− Service
− Manufacturing
− Trade
Industrial Sectors
− Engineering Industry
− Process Industry
− Textile Industry
− Chemical Industry
− It Industry
− Agro Industry
Globalization

3. Business
Definition:
Business is an economic activity involving the regular production or distribution of
goods and services with the objective of earning profits through the satisfaction
of human wants.
Types of business:
1. Service
2. Manufacturing
3. Trade

4. Service
Service industry is the major type of business running in India.
Examples – entertainment, consultancy, banking, telecommunication, call
centres, KPO, etc.
Service is different from manufacturing and trading of goods.

5. Manufacturing
In manufacturing, the items are produced using raw materials with the help of
different engineering process and technologies.
Other business depend on manufacturing. Hence it is very important.
Example- machines, automobiles, stationary, etc.

6. Trade
These enterprises are concerned with the distribution of products i.e. sale of
products , distribution, transfer, exchange of goods to business houses as well
as consumers.
Trading enterprises may be found operating in form of
a) Wholesale
b) Retail
c) Import and export
d) Investment trusts, etc.

7. INDUSTRIAL SECTORS

8. Types Of Industrial Sector
1. Trade
2. Automobile
3. Cement
4. Chemicals
5. Pharmaceuticals
6. Engineering goods
7. Jute
8. Iron and steel
9. Village industries
10. Petrochemical
11. Rubber & leather products
12. Small scale industries
13. Sugar
14. Tea
15. Textile
16. Agro based
17. Food based
18. Handicrafts, etc.

9. Engineering Industry
Engineering industry mainly deals with:
a) Design
b) Manufacture
c) Operations of structures, machines, or devices.
This industry primarily includes sectors like:
1. Civil
2. Computer and IT
3. Industrial
4. Electrical
5. Mechanical
6. Chemical

10. Process Industry
The process industries do different processes on the raw material to produce
the final product.
The process could be either continuous or occur on a batch of materials.
Examples:
1. Wood and wooden products
2. Chemicals
3. Paper
4. Textile
5. Coal
6. Rubber
7. Plastics, etc.

11. Textile Industry
Textile industry deals with design and manufacturing of clothing products.
Indian textile industries are one of the leading in the world.
It includes following sectors:
1. Cotton
2. Jute
3. Sericulture
4. Wool and woollen
5. Man made fibre/ filament yarn

12. Textile Industry
Advantages:
1. Great capacity of production
2. Availability of cheap and skilled
labour
3. Because of large production there
is great demand in domestic
market
4. Massive capacity to export textile
products
Disadvantages:
1. Increase in global competition
2. Poor supply
3. Sector is unorganized

13. Chemical Industry
This industry includes wholesale distributors of chemicals and allied products.
Chemical industry products include acids, industrial and heavy chemicals,
dyestuffs, industrial salts, rosin and turpentine.
Examples- TATA chemicals, Reliance Chemicals, Cipla, Pidilite, etc.

14. Agro Industry
It deals with supply, processing and distribution of farm products.
It also includes post harvest activities like large-scale production, processing and
packaging of food etc.
Top agro industries are ABT industries, Rassi seeds, National Agro Industry etc.

15. IT Industry
Information technology (IT) industry in India has played a key role in putting
India on the global map. IT industry in India has been one of the most significant
growth contributors for the Indian economy.
Major IT companies are:
1. Infosys
2. Accenture
3. Cognizant
4. CMC
5. Wipro
6. Oracle, etc.

16. GLOBALIZATION

17. Introduction
• Globalization (or globalisation) is the process of international integration arising
from the interchange of world views, products, ideas and other aspects of
culture.
• Globalization has allowed companies to increase their base of operations.
• It has supported companies to expand their workspace with relatively small
investments and provide novel services to a wide range of consumers.

18. Impact of Globalization
Positive Impact
• A better economy – it introduces rapid
development of the capital market
• The new scientific research patterns are all
results of globalization.
• Living standards are risen.
• Globalization introduces better trade. This is
because more people are employed. This
increases productivity.
• Apart from economical aspect, globalization
has also brought an impact on political and
cultural domain.
• Culturally speaking, globalization has brought
in different ideologies, and thought process
amongst people.
• Politically speaking, onset of western
democratic system has an impact on politics.
Negative Impact
• Along with positive impact, there is negative
too. Globalization brings fear as well.
Because of too much flow of capital
amongst countries, it introduces unfair and
immoral distribution of income.
• Another fear is loosing national integrity.
Because of too much exchange of trade,
money etc independent domestic policies
are lost.
• Mental pressure on companies that causes
many people to loose their jobs.

19. Advantages of Globalization:
• Resources of different countries are used for producing goods and services they are able to
do most efficiently.
• Consumers to get much wider variety of products to choose from.
• Consumers get the product they want at more competitive prices.
• Companies are able to procure input goods and services required at most competitive prices.
• Companies get get access to much wider markets
• It promotes understanding and goodwill among different countries.
• Businesses and investors get much wider opportunities for investment.
• Adverse impact of fluctuations in agricultural productions in one area can be reduced by
pooling of production of different areas.

20. Disadvantages of Globalization:
• Developed countries can stifle development of undeveloped and under-
developed countries.
• Economic depression in one country can trigger adverse reaction across the
globe.
• It can increase spread of communicable diseases.
• Companies face much greater competition. This can put smaller companies, at a
disadvantage as they do not have resources to compete at global scale.