Business Activity. Primary Sector – – extraction of raw materials from the earth – mining, quarrying, fishing, agriculture, forestry Secondary Sector.

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Presentation transcript:

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

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’)

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)

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

Objectives of Private Sector Business Objectives Profit Survival Share Price Market Power Sales and Sales Revenue Efficiency Quality and Innovation Image and Reputation Environment Satisficing Social Issues

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

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.

Range of Business Offered by the Public Sector Road s Allotments Paths and Parks Schools Street Lighting Waste Disposa l Trading Standards Cemeteries Environmental Health Museums and Arts Economic Development and Tourism Planning Licensing Care of the Elderly Social Services