Lesson 9: Industry and Business Organization

Created by

Isha

Cards (17)

Industry 
The group of companies that are related based on the primary business activities.
Agribusiness Industry 
The business sector encompassing farming and farming-related commercial activities
The term "agribusiness" was coined by American academics John Herbert Davis and Ray Goldberg in the 1950s
The term reflect the two way interdependence of business people and farmers as both suppliers and purchasers
Types of Agribusiness Industry
Crop production
Fishery
Animal production
Forestry and logging
Agri-support services
Manufacturing Industry 
The creation and assembly of components and finished products for sale
Types of Manufacturing Production
Make to stock- MTS
Make to order- MTO
Make to assemble- MTA
Retail Industry 
Refers to individual investors who buy and sell securities for their personal account and not for another company of organization
Retail Trade 
Refers to the final step in the distribution of merchandise
Service Industry 
The part of economy that creates services rather than tangible objects
International Trade 
When two or more countries are involved in the exchange of goods and services
Types of business organization
Sole Proprietorship
Partnership
Corporations
Multinationals Corporation
Conglomerates
Sole Proprietorship 
A business that owned or operated by one person
Partnership 
An association of two or more persons who acts as co-owners of the business for profit
Corporations 
An artificial being, invisible, intangible, and existing only in contemplation of the law
Multinationals Corporation 
A corporation that has manufacturing or service operation in a number of different countries
Conglomerates 
A firm that has at least four businesses, each making unrelated products, none of which is responsible for a majority of its sales
Import 
A goods or services bought from the global market
Export 
A goods or services sold to the global market