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Let us understand this with the help of a case study given below:
                 • Precision Engineering Ltd.: Precision Engineering Ltd. specialises in manufacturing precision components for
                aerospace  and  automotive  industries.  Founded  by  a  team of  engineers
                with expertise in machining and fabrication, the company started in a small
                workshop but quickly gained recognition for their high-quality products
                and adherence to industry standards. They invested in state-of-the-art
                machinery and continuous staff training to maintain their competitive
                edge. By fostering long-term relationships with key clients and expanding
                their product range to include customised solutions, Precision Engineering
                Ltd. established itself as a trusted manufacturer in a competitive market.
                 • Trading: This deals with buying and selling a product. In this, the finished
                products are purchased at wholesale price and sold to consumers at retail price. The form of the products is
                not changed but the products are sold at a little higher price than the purchase price that helps them to earn
                profits. They also transport the product from the factory to warehouses. Examples of these businesses include
                wholesalers, distributors and retail shops.


              Service business
                This kind of business provides services in the form of consulting, accounting, hospitality and many more of such
              types which can be delivered either physically or in a digital form through the Internet or mobile apps. These
              services are  not  in the  physical form which  can  be  touched  or  stored  or  bought  from the  retailers. They  are
              provided by professionals or experts in such areas. Salon is an example of Service business.

              Let us understand this with the help of a case study given below:
                 • CleanTech Solutions
                 CleanTech Solutions provides eco-friendly cleaning services to residential
                and commercial clients. Founded by Anirudh, who was passionate about
                sustainability, the business began with a focus on using non-toxic cleaning
                products  and energy-efficient  practices.  Through  targeted  marketing
                campaigns and partnerships with environmentally-conscious businesses,
                CleanTech Solutions gained traction in the local market. They expanded
                their service offerings to include specialised  cleaning services  for sensitive environments  like hospitals  and
                schools, demonstrating their commitment to innovation and client satisfaction.


              Hybrid

                Hybrid business is a mix of two or more different types of businesses. It can be in service or manufacturing or
              merchandising or all of these. It does business in the form of goods and services. For example, a restaurant is
              in manufacturing by preparing a ready to eat food in the form of fine dining. At the same time, it works as a
              merchandiser by selling beverages with the fine meals. It also provides services by serving home deliveries through
              online or offline orders.

              Let us understand this with the help of a case study given below:
                 • Sarah's Boutique
                 Sarah started a small boutique selling handmade jewelry and accessories.
                Initially, she operated from a physical storefront in her local community.
                As her  business  grew, Sarah  expanded  online, leveraging  e-commerce
                platforms and  social media to reach  a  wider  audience.  She diversified

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