Goods and services for Business


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A business can be defined as an organisation that provides goods and services to others who want or need them. So, what are goods and services?

Goods are tangible things that are produced, bought or sold, then finally consumed. Look around your home and you will see dozens of examples, from the microwave to the flat-screen television and Nintendo Wii console.

Services are activities that other people or businesses do for you. When you book a holiday, visit the hairdresser or eat in a restaurant you are consuming one or more services. Services are sometimes referred to as intangible, in the sense that you can’t touch or handle them.

Most businesses provide a service rather than make goods. That is particularly true of the small business sector. Take a flick through the Yellow Pages directory at home to see just how many small service businesses operate in your locality.
There are some important differences in the skills required to run a business making goods compared with services. Here is a brief summary:

Requires a production location - factory
The output from production is stock – which can be transported and/or stored for future sale
Production costs will include the costs or raw materials and other inputs into the production process
Requires close liaison with suppliers
Quality can built-in to the product through good design and production processes designed to ensure the right quality is achieved
Quite costly to set up. The production process needs to be in place and working before goods can be produced.

The location is where the service is provided – either physically (e.g. a builder) or virtually (e.g. telesales or via a website)
Service is delivered at a point in time – it cannot be stored! A shop has to be open to sell. A hairdresser has to be there to cut hair
The main cost of a service business is the people involved
Require high levels of customer satisfaction
Quality is measured by the quality of customer service. Harder to manage
Relatively easy to start a service business, particularly using franchises, where a business format has already been established

Business Studies Revision / Exam Coaching Workshops Coming Up:

GCSE Business (AQA Unit 2 & Edexcel Unit 3)

Thursday 24 April 2014 - Birmingham
Friday 25 April 2014 - London (Stratford City)

Monday 20 January 2014 - London (Stratford City)
Tuesday 21 January 2014 - London (Fulham Broadway)
Wednesday 22 January 2014 - Bristol (Cribbs Causeway)
Thursday 23 January 2014 - Birmingham (Star City)
Friday 24 January 2014 - Manchester (Salford Quays)

AQA AS & A2 Business (BUSS2 & BUSS4)

Tuesday 25 March 2014 - London (Stratford City)
Wednesday 26 March 2014 - London (Fulham Broadway)
Thursday 27 March 2014 - Bristol (Cribbs Causeway)
Friday 28 March 2014 - Birmingham (Star City)
Tuesday 1 April 2014 - Newcastle (Metro Centre)
Wednesday 2 April 2014 - Leeds (The Light)
Thursday 3 April 2014 - Manchester (Salford Quays)

2012-01-04 10:16:26 by curmudgeon

-and- good for the economy

When people spend less on housing, they can buy other things. This means jobs for goods and services.
They can also _invest_ in other things. This allows more capital to move from housing to business and industry.
Imagine the paradise we would have if retired people had more money in non-housiong investements instead of housing, so they would be able to get income from these investements and _not_ have to downsize their home or take reverse mortgage to get income from the house "investment?"

2012-04-19 09:33:56 by -

Can you join or form a business co-op?

I have read that some small businesses band together in co-ops for the purpose of purchasing power, and ability to negotiate better rates on goods and services. Couldn't this work for group health insurance rates?
Also if you are a member of Costco, they might offer group health insurance rates.
I used to be an individual subscriber to Kaiser, too, and had to let it lapse due to continual premium hikes.

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