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Business Activity

Business Activity. Business Activity. Primary Sector – extraction of raw materials from the earth – mining, quarrying, fishing, agriculture, forestry Secondary Sector – Processing of raw materials into finished or semi-finished products – manufacturing Tertiary Sector –

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Business Activity

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  1. Business Activity

  2. Business Activity • Primary Sector – • extraction of raw materials from the earth – mining, quarrying, fishing, agriculture, forestry • Secondary Sector – • Processing of raw materials into finished or semi-finished products – manufacturing • Tertiary Sector – • Service industries – leisure, transport, finance, distribution, retailing, wholesaling, communications • Quarternary Sector – • Hi tech industries, training, health, education

  3. New Thinking: • Tertiary Sector – • transport, energy, water (utilities) • Quarternary Sector – • finance, trading • Quinary Sector – • health, education, research, leisure and recreation (After Daniel Bell: 1976 ‘The Coming of Post Industrial Society’)

  4. Business Activity • Multiple Business Activity • e.g. BP involved in: • Oil exploration and drilling (Primary) • Refining oil – production of gas, petroleum, bitumen, lubricants, etc. (Manufacturing) • Distribution of petrol from refineries to petrol stations and sales of petrol to consumer (Tertiary) • Research and Development (Quarternary)

  5. Business Activity • Private Sector: Business activity owned financed and controlled by private individuals • Sole Traders • Partnerships • Private Limited Companies • Public Limited Companies (PLCs) • Co-operatives • Franchises • Charities

  6. Objectives of Private Sector Business Profit Satisficing Survival Environment Image and Reputation Share Price Objectives Social Issues Quality and Innovation Market Power Efficiency Sales and Sales Revenue

  7. Business Activity • Public Sector: Business Activity owned, financed and controlled by the state through government or local authorities • Government – key departments set policy and monitor implementation • Local Authorities – County Councils, District Councils, Parish Councils • Health Trusts • Public Corporations – BBC

  8. Objectives of Public Sector Activity • Access – • available to all regardless of location or income • Quality – • high quality services that do not cut corners • Affordability – • services offered at prices that are cheaper than private sector or free at the point of use • Equity – • available to anyone whatever their background, status, income, class, race, religion, etc.

  9. Range of Business Offered by the Public Sector Paths and Parks Allotments Roads Museums and Arts Street Lighting Cemeteries Environmental Health Planning Care of the Elderly Social Services Licensing Trading Standards Economic Development and Tourism Waste Disposal Schools

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