Page 77 - Design Thinking C11

21 st #Critical Thinking
Century
Scan the QR code or visit the following link to watch the video: Skills #Leadership & Responsibility
What is an entrepreneur?
https://www.youtube.com/watch?v=92ZmzD70sOU
After watching the video answer the given question:
State different qualities which should be there in a successful entrepreneur.

T ypes of Business Activities

We, as humans, are constantly changing. Our needs and desires are never constant. You might want an
Android phone today, but tomorrow it's not the same. You may desire an iPhone. So, our needs are changing
over time. The market offers products in the form of goods or services to meet our specific needs. Let us have a
look at them, one by one.

Business Activities

Manufacturing Trading Services

Manufacturing Business
A manufacturing company is involved in developing the raw
materials into finished products to meet the needs of its customers.
In this type of business, you can sell the finished product directly
to your customers. For example, Bata makes shoes; it has
several factories where shoes are made. This is an example of a
manufacturing company.

Trading Business
Trading companies do not manufacture goods or products.
They only facilitate the process of getting the finished product to
brought from the production unit to the purchaser or customer.
For example, your local pharmacy or chemist shop sells various
medicines manufactured by different companies. It is only
involved in the process of procuring the medicines from pharmacy
companies and selling them to customers.

Services Business
A business activity that you can't see, but that benefits the buyer,
is called a service business. These activities can include traveling,
consulting, delivering, cleaning, etc. There is no fixed time for the
service, and the service providers respond flexibly according to
the customer's request. Services do not even require a shop to sell
the product. For example, customer care services for any product
you purchase like a laptop.

Entrepreneurial Skills-III
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