What are the three major business operations?

Career Coaching Management
, , , , , , , , , ,
#1

There are three major types of business operations:

  1. Service Business – A business that makes available goods and services which are intangible (cannot be seen, touched, and felt) is known as a service business.
    The various examples of this type of business are – transportation (airlines, railways), banking, maintenance and repairing, restaurants and hotels, etc.
    The need to emphasize inventories is less in such a business as these deal with intangible outputs.
  2. Merchandising Business – A merchandising business provides tangible products to the consumers and generally deals with clothes, food, and electronics. They have to keep a check on the inventory levels of these products in order to fulfill customer demand timely and effectively.
  3. Manufacturing Business – A manufacturing business is concerned with creating finished goods from raw materials. They generally use assembly lines to carry out these processes and look for ways to optimize them. These are typically prevalent in all high-involvement goods that are made available in the marketplace.

2022-02-03T18:30:00Z