Finance & The Business Organizations As To Purpose
Finance is the foundation of every business and enterprise. Why? Without finance, where will you get your capital? Or the money you used in building your business? It all begins with finance. Every business and company started looking for money to support their idea of opening a business or an enterprise. The role of finance in the business world is simple. It is what makes this world exist and continue working.
There are seven business organizations as to nature or purpose. These business organizations have different ways of how to supply their customers.
Services - which offer their services to customers such as giving a massage. Anything that provides their service in return for payment is under this organization.
Trading / Merchandising - which we usually see in the public markets. It is the kind of market that buys and sells. An example was the grocery stores, department stores, and even drug stores. In Trading/Merchandising, they buy products and resell them too. That is where trading takes place and merchandising.
Manufacturing - simply the producing of a particular item. For example are the manufacturers of chocolates, in which they buy the raw products needed for their chocolate and manufacture it. They are the ones who usually supply in the organization Trading/Merchandising.
Banking and Finance - focuses on money as a matter in the business. Some examples under this are banks and other incorporations that lend financial credits.
Mining or Extractive Industries - focused on mining gold, copper, etc. Anything that they can get from natural resources.
Construction Companies - gets a specific project on constructing a building or any infrastructure. They are the ones to be called to perform this kind of work.
Genetic Industries - the main focus of this organization is on the production or manufacturing of products from animals and plants. Under this are usually the production of cotton, wool, etc.
Since I already mentioned above the types of business organizations according to their nature or purpose, it is time to think and reflect. As a student who studies Business Administration and Financial Management, I wanted to open up a business too. And I am torn between having an organization that gain profits from Services or Trading and Merchandising. For me, services will give you the satisfaction when you see your customers happy. And if you fulfilled their demand.
On the other hand, Merchandising is also a good thing as it takes a lot of risks and decision-making, especially when it comes to pricing of products and dealing with a lot of competitors. Behind all of these thoughts, I realized that starting a business requires knowledge, experiences, and enough courage. These are the three first foundation of a person’s business. The businessman itself must be aware on what kind of world is he trying to discover.
Date Published: January 17, 2022
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