Classify Businesses – 1.03
Instructor: Ms. Ella WiseOctober 3, 2014
I can be reached by phone, IM or email: Mon, Wed, and Fri: 4 – 7 [email protected](910) 728-1234BBIM: ella.wise
Objective
1.03 – Classify businesses as profit-making or non-profit-making; and service, product, or combination.
Essential Question Why do people start businesses?
What are examples of activities that businesses perform?
Which businesses are profit-making and which are non-profit businesses?
Which businesses are service businesses and which are product businesses?
Profit-making Businesses
Motive is making a profit (earning more revenue than expenses)
Produce and distribute goods and services based on consumer demand for wants
Non Profit-making Businesses
Can earn a profit, but cannot be run for the sole purpose of earning a profit; profits must be used to benefit the purpose of the organization
Cannot be run for the financial gain of the members or directors
Donors’ Contributions are tax deductible
Examples
Profit making businesses
Apple Computer Domino’s Pizza The Gap Abercrombie and
Fitch
Non-Profit making businesses
American Red Cross
Salvation Army Meals on Wheels Homeless Shelters St. Jude’s
Children’s Hospital
Service Businesses
Provide services rather than goodsSome service businesses meet needs (medical clinics, law firms) and Some service businesses provide wants (taxi companies)Examples
Barber shop Dry Cleaners Copy and Print Shops (Kinko’s) Car repair shops Can you think of others?
Product Businesses
Sell goods to consumers and other businesses
Retailers and distributors are product businesses
Examples Old Navy CD Stores Best Buy Dick’s Sporting Goods Can you think of others?
Combination Product and Service
Some businesses are both product and service businesses—they sell a product and provide a service.
Examples Automobile dealerships Hair salons Appliance stores Can you think of others?
REVIEW ASSIGNMENT
Directions:Click on the image below to access the review activity. Based on the lesson complete the worksheet.
Due: by 12:00 midnight on October 8, 2012
Sources
Images: Slide 4: http://new-business-lists.com/ Slide 5: http://earbudsstore.com/author/fun/ Slide
6:http://blogs.telegraph.co.uk/news/author/timcollard/ & http://kmc.redcross.org/services-ds.html
Slide 7: https://jsd.astihosted.com/portal/Default.aspx?pg=603
Slide 8: www.google.com/images Slide 9:
http://www.montedaquintaresort.com/en/resort/spa/ Slide 10: https://www.magicdust.com.au/how-to-
choose-a-business-name/
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