arabera Waleed Khan - Rick Hansen SS (2542) 6 years ago
373
Types of Business - Forms of Ownership
Businesses can be categorized into various types based on their core activities and ownership structures. Service businesses focus on providing work-based services instead of physical goods to meet consumer needs.
A manufacturing business works by creating its own line of production through the means of producing goods from raw resources.
Example: SpaceX
Example: Toyota Motor Corporation
CO-OPERATIVE
A co-op establishment is a form of business that consists of management and control by a select group of people privately, with the objective of incorporating a combined idea out of the ideas developed by all collaborators.
Example: VISA
Example: Desjardins Group
FRANCHISE
A franchise business is a business where the owners sell the rights to their business logo, name, and model to independent third-parties, called “franchisees”.
Example: NoFrills
Example: McDonald's
SOLE PROPRIETORSHIP
A sole proprietorship is a form of
business where the business has a direct
link to its owner and only its owner, who
is responsible for managing it by himself / herself.
Example: Proberry
Example: Biryani King
NON-PROFIT
A non-profit business is a business where all profits gained are used to further expand the organization, instead of returning profits to investors. These organizations are typically charitable, and use their profits to help others.
Example: American Red Cross
Example: Greenpeace
E-COMMERCE
E-Commerce is the purchasing and selling of goods and services over an electronic network (i.e. the Internet).
Example: Dollar Shave Club
Example: Amazon
MERCHANDISING
A merchandising business is a form of business that focuses on providing goods to consumers. Most merchandising businesses typically sell things that are popular from recent events or trends, or just needed by the local consumer population in general.
Example: Shoppers Drug Mart
Example: Walmart
PARTNERSHIP
A partnership is an agreement and mutual
cooperation between two individuals running a business establishment.
Example: Century 21
Example: RE/MAX
SERVICE
A business that provides a service is usually expected to provide consumers with something that is accomplished through work as opposed to providing a good that is an object expected to satisfy their needs.
Example: Mr. Lube
Example: Canadian Tire
CORPORATION
A corporation is a company that is legally allowed to act as a single entity. Corporations typically consist of a board of shareholders.