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Aiosd Essay

828 words - 3 pages

Preliminary Topic: Nature of a BusinessTypes of Businesses: Classification of BusinessOutcome:P1 discusses the nature of business, its role in society and types of business structureStudents learn about:Types of businessClassification of business- size - small to medium enterprises (SMEs), large- local, national, global- industry - primary, secondary, tertiary, quaternary, quinary- legal structure - sole trader, partnership, private company, public company, government enterpriseClassifying a BusinessAny organisation that sells goods and services to consumers in order to make a profit is a business. There are four common methods used to classify common features of businesses. These include:Classification by SizeWhen classifying a business by size the Australian Bureau of Statistics has developed a number of criterion by which the size of a business can be classified. This includes:Number of employeesNumber of ownersMarket ShareLegal StructureThe most significant of these is the number of employees a business a business has. Refer to the table below.
Type of business

Size

Micro

Small

Medium

Large

Non-manufacturing (e.g. retail)

Employs less than 5 people.

Employs 0 - 19 people.

Employs between 20 - 199 people.

Employs 200+

Manufacturing (e.g. factories)

Employs less than 100 people

Employs between 101 - 500 people

Employs 501 + people.

Activity One:Using the information on the table above complete the table below. Indicate if the business is small medium or large by placing an X in the appropriate box
Business Example

Size (based on number of employees)

Micro

Small

Medium

Large

Dress Shop 4 employees

X

Interior Designer 8 employees

X

Magazine Publisher 25 employees

X

Car assembler 330 employees

X

Accountant 26 employees

X

Computer company 60 employees

X

Oil Company 550 employees

X

Hotelier 20 employees

X

Exporter 6 employees

X

Builder 2 employees

X

Pool company 36 employees

X

Department Store 211 employees

X

Classification by Industry Sector/Stage of ProductionAn Industry consists of businesses that are involved in a similar type of production.PrimaryThis includes all those businesses in which production is directly associated with natural resources. Often referred to as the "extractive" businesses due to the fact that these businesses are often taking from the natural environment. E.g. Farming, fishing, oil exploration etc. ( trees, steel/metal)SecondaryThis includes those businesses that are involved in taking raw material and making it into a finished or semi-finished product. E.g. Manufacturing, construction etc. (factories etc.)TertiaryTertiary industry is based on the processing or transfer of matter and/or energy. Eg transport, electricity, gas and water, retailing and wholesaling.Tertiary can actually be further divided into:Activity Two:Using the above information about industries above complete the table below....

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