1 / 6

1.03 Classify Businesses

1.03 Classify Businesses. Objective 1.03 Classify businesses as profit-making or non profit-making; and service, product or combination. Profit-making Businesses. For-profit businesses Motive is making a profit (earning more revenue than expenses) Examples Apple Google

jamal-tran
Download Presentation

1.03 Classify Businesses

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 1.03 Classify Businesses Objective 1.03 Classify businesses as profit-making or non profit-making; and service, product or combination.

  2. Profit-making Businesses • For-profit businesses • Motive is making a profit (earning more revenue than expenses) • Examples • Apple • Google • Abercrombie and Fitch • Harris Teeter • Great Wolf Lodge

  3. Non Profit-making Businesses • Cannot be run for the sole purpose of earning a profit • IF they make a profit, it must be used to benefit the purpose of the organization • Cannot be run for the financial gain of the members or directors • Donors’ Contributions are tax deductible • Examples • American Red Cross • Salvation Army • Meals on Wheels • Homeless Shelters • St. Jude’s Children’s Hospital

  4. Service Businesses • Provide services rather than goods • Some service businesses meet needs • Medical clinics, law firms • Some service businesses provide wants • Taxi companies, ISPs • Examples • Barber shop • Dry Cleaners • Copy and Print Shops (Kinko’s) • Car repair shops

  5. Product Businesses • Sell goods to consumers and other businesses • Retailers and distributors are product businesses • Examples • Old Navy • FYE • DSW

  6. Combination Product and Service • Some businesses are both • They sell a product AND provide a service • Examples • Automobile dealerships • Hair salons • Appliance stores (Sears, Home Depot) • Best Buy

More Related