What is business [9 proven examples]

AI generated content and customization by Samiul

20 Jun, 2024

There are different types of professions in the world. Out of which business is one of the best professions. Which gives you a smart income. But what is business? If you don't know, find out now.

What is business

That's what business is Business refers to a way for an organization or entrepreneur to earn income by selling goods or services. Which involves production of all products or services, marketing, financing, customer service, human resource management, income and expenditure accounting, research and development etc.

They are very important for running the company. All this requires an entrepreneur and a company to invest. It requires proper planning, management and profitability. Otherwise, business income will be lost and business development will be hindered.

However, managing all these tasks requires time, effort and good leadership.

Also, being a trader involves conducting business activities, selling products or services, business networking, engaging with customers digitall, business knowledge, and generating business income.

Nine proven examples

To get an idea of what business is, let's look at 9 examples.

1. Manufacturing Business

All these manufacturing firms do the initial stage of making a product or service. Which you can also call factory work.

Garment Manufacturing Company:

Such establishments collect cotton as raw material and manufacture garments from it. An example is "Alexander fabrics". which manufactures various types of apparel and textile products.

2. Retail Business

This type of organization buys products from wholesale shops and sells them to supermarkets. For example: supermarket, clothing store, mobile phone store etc.

Supermarket:

A supermarket that sells daily household essentials. An example might be: "Walmart". which offers foodstuff, household goods, cosmetics and other daily essential products.

3. Service Business

Such organizations provide services to various businesses and provide solutions to various IT related problems.

IT Service Providers:

Such organizations provide a variety of information technology services, such as software development, website design, and data security. An example would be "Microsoft". which provides custom software and IT solutions for various businesses.

4. Wholesale Business

Such organizations bring goods at a lower price from any manufacturing company and sell the goods at wholesale prices keeping the profit.

Organizations supplying food products:

Such establishments collect large quantities of food products and sell them to retailers. An example would be "Tyson foods". Which supplies rice, dal, flour etc. products as wholesale.

5. Franchise

Those who conduct business through hotels. Which is a very popular business nowadays.

Fast Food Chains:

A franchise business that operates under the parent brand. An example would be "KFC". Which operates fast food restaurants on franchise basis in different countries of the world.

6. NGO or Nonprofit Organization

All these institutions provide money to the general public subject to various conditions and work to fulfill various missions.

Charitable Trusts:

A non-profit organization that works for the welfare of society. An example would be "BRAC". It works towards poverty alleviation, education, health and social development.

7. Online Business

The main goal of doing business online is to create a source of extra income from home. Which helps you live a smart life.

E-Commerce Platform:

An online business that sells products or services over the Internet. An example would be "Amazon". which is a popular e-commerce platform, where various types of products are sold online. Business can be better understood through this.

8. Healthcare Business

All these institutions ensure the health care of all people and work towards curing the sick patients.

Private Hospital:

A healthcare institution that provides medical services to patients. An example would be "menorah medical centerl". Which provides advanced medical care and uses state of the art medical equipment.

9. Consulting firm

These firms advise other companies for business development.

Business Consulting Firms:

Such firms provide strategic advice to various business organizations. An example would be "Bain & Company". Which provides consulting services to various businesses worldwide.

These examples reflect a wide range of different types of businesses. Which works in different fields and industries.

Conclusion

I hope you got to know the examples of what is business? Although business is one of the biggest professions. Not everyone can do this. It requires passion, confidence, patience, proper planning and execution. Also investment is required to do business. Which not everyone has.