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There are two types of product-based businesses:
                 •  Manufacturing: This kind of business uses raw materials, labour, technology, capital and other resources for the
                   production  of  finished  goods.  It follows a step-by-step approach  of  putting  together raw materials, parts and
                   components, moving from one workstation to the other with the help of technology, machinery, robots, computers,
                   and labour.
                    Finished goods are sold to the wholesalers, who in turn sell them to retailers. The consumers generally purchase
                   these  finished  goods  from  the  retailers.  Some  of  the  examples  of  manufacturing  businesses  are  that  of  food,
                   beverages, apparels, furniture, mobile phones, laptops, cosmetics and many more.
                 Let us understand this with the help of a case study given below:

                      w 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



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