Download - Business Activity
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Business Activity
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Business Activity
• Primary Sector – – extraction of raw materials from the earth – mining,
quarrying, fishing, agriculture, forestry
• Secondary Sector – – Processing of raw materials into finished or semi-
finished products – manufacturing
• Tertiary Sector – – Service industries – leisure, transport, finance,
distribution, retailing, wholesaling, communications
• Quarternary Sector – – Hi tech industries, training, health, education
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New Thinking:
• Tertiary Sector – – transport, energy, water (utilities)
• Quarternary Sector – – finance, trading
• Quinary Sector – – health, education, research, leisure
and recreation(After Daniel Bell: 1976 ‘The Coming of Post Industrial Society’)
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Business Activity
• Multiple Business Activity– e.g. BP involved in:
• Oil exploration and drilling (Primary)• Refining oil – production of gas,
petroleum, bitumen, lubricants, etc. (Manufacturing)
• Distribution of petrol from refineries to petrol stations and sales of petrol to consumer (Tertiary)
• Research and Development (Quarternary)
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Business Activity
• Private Sector: Business activity owned financed and controlled by private individuals– Sole Traders– Partnerships– Private Limited Companies– Public Limited Companies (PLCs)– Co-operatives– Franchises– Charities
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Objectives of Private Sector Business
Objectives
Profit
Survival
Share Price
Market PowerSales and Sales
Revenue
Efficiency
Quality and Innovation
Image and Reputation
Environment
Satisficing
Social Issues
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Business Activity
• Public Sector: Business Activity owned, financed and controlled by the state through government or local authorities– Government – key departments set policy
and monitor implementation– Local Authorities – County Councils, District
Councils, Parish Councils– Health Trusts– Public Corporations – BBC
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Objectives of Public Sector Activity
• Access – – available to all regardless of location or income
• Quality – – high quality services that do not cut corners
• Affordability – – services offered at prices that are cheaper than
private sector or free at the point of use
• Equity – – available to anyone whatever their background,
status, income, class, race, religion, etc.
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Range of Business Offered by the Public Sector
Roads
Roads
AllotmentsAllotments Paths and ParksPaths and Parks
Schools Schools
Street Lighting
Street Lighting
Waste Disposal
Waste Disposal
Trading Standards
Trading Standards
CemeteriesEnvironmental Health
Environmental Health
Museums and Arts
Museums and Arts
Economic Development and Tourism
Economic Development and Tourism
PlanningPlanning
Licensing Licensing
Care of the Elderly
Care of the Elderly
Social Services
Social Services