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.