Business
Fundamentals
Introduction to Types of Business
What is a Business?

A business is an organization that produces
and/or sells goods and/or services to satisfy
the needs, ...
How to Classify Businesses
 There are many ways to classify businesses.
 For-Profit OR Not-for Profit
 Size
 Form of O...
1. For-Profit OR Non-Profit
A For-profit Business

An organization that produces or sells goods or services
to satisfy the needs, wants, and demands o...
For-Profit Business
Definitions:
Profit: money left after all expenses have been paid
 Expenses: money spent on running t...
Non-Profit and Not-For-Profit
 NP: does not look to make profit, but raises funds for

a specific goal (charities, charit...
2. Size of Business
 Small
 Medium
 Large
3. Type of Ownership
 Single Proprietorship (single owner)
 Owned by one person

 Partnership
 Two or more people

 C...
4. Goods or Services
 Goods: items of monetary value that have been produced.
 eg. Television, Paint
 Goods are TANGIBL...
Goods or Services?
 Businesses that sell goods
 Businesses that provide services
 Businesses that do both.
5. Distribution
How are goods & services delivered?
 Bricks and mortar business
 telemarketing
 catalogue
 online.

Ex...
6. Role in the Community and Jobs
 What role does the business play in the community?
 What types of jobs does the busin...
Assignment
 Go to Blackboard and download the Notes Document
 Complete Part A and B
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Classifying Businesses - BEC 10

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Intro to Business. Classifying Businesses. BEC 10

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Classifying Businesses - BEC 10

  1. 1. Business Fundamentals Introduction to Types of Business
  2. 2. What is a Business? A business is an organization that produces and/or sells goods and/or services to satisfy the needs, wants, and demands of consumers.
  3. 3. How to Classify Businesses  There are many ways to classify businesses.  For-Profit OR Not-for Profit  Size  Form of Ownership  Goods or Services  Distribution Method  Role in the Community and Jobs
  4. 4. 1. For-Profit OR Non-Profit
  5. 5. A For-profit Business An organization that produces or sells goods or services to satisfy the needs, wants, and demands of consumers for the purposes of making a profit
  6. 6. For-Profit Business Definitions: Profit: money left after all expenses have been paid  Expenses: money spent on running the business (wages, supplies, etc.)  Costs: money spent for the production of the good or service  Businesses try to keep profits up by keeping costs and expenses down. Profit = Revenue – Expenses
  7. 7. Non-Profit and Not-For-Profit  NP: does not look to make profit, but raises funds for a specific goal (charities, charitable organizations) Examples: Salvation Army, UNICEF  NFP: does not seek to make profit, extra monies used to improve services Examples: Victoria Cool Aid Society, Victoria Hospice
  8. 8. 2. Size of Business  Small  Medium  Large
  9. 9. 3. Type of Ownership  Single Proprietorship (single owner)  Owned by one person  Partnership  Two or more people  Corporation  Owned by investors called shareholders  Cooperative  Owned by members  Franchise  Franchisee buys a franchise from a large corporation or franchisor.
  10. 10. 4. Goods or Services  Goods: items of monetary value that have been produced.  eg. Television, Paint  Goods are TANGIBLE (can touch them)  Services: Tasks performed by businesses for consumers.  eg. Lawn Mowing, Delivery  Services are INTANGIBLE (can’t touch them)  Businesses can sell both goods and services
  11. 11. Goods or Services?  Businesses that sell goods  Businesses that provide services  Businesses that do both.
  12. 12. 5. Distribution How are goods & services delivered?  Bricks and mortar business  telemarketing  catalogue  online. Examples?
  13. 13. 6. Role in the Community and Jobs  What role does the business play in the community?  What types of jobs does the business offer/employ?
  14. 14. Assignment  Go to Blackboard and download the Notes Document  Complete Part A and B

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