http www bized ac uk Business Activity Copyright

http: //www. bized. ac. uk 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 semifinished products – manufacturing • Tertiary Sector – – Service industries – leisure, transport, finance, distribution, retailing, wholesaling, communications • Quarternary Sector – – Hi tech industries, training, health, education Copyright 2006 – Biz/ed

http: //www. bized. ac. uk 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’) Copyright 2006 – Biz/ed

http: //www. bized. ac. uk 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) Copyright 2006 – Biz/ed

http: //www. bized. ac. uk 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 Copyright 2006 – Biz/ed

http: //www. bized. ac. uk Objectives of Private Sector Business Satisficing Profit Survival Environment Image and Reputation Share Price Objectives Social Issues Quality and Innovation Efficiency Sales and Sales Revenue Market Power Copyright 2006 – Biz/ed

http: //www. bized. ac. uk 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 Copyright 2006 – Biz/ed

http: //www. bized. ac. uk 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. Copyright 2006 – Biz/ed

http: //www. bized. ac. uk Range of Business Offered by the Public Sector Paths and Parks Allotments Road s Environmental Health Licensing Waste Disposal Cemeteries Care of the Elderly Schools Museums and Arts Planning Street Lighting Social Services Economic Development and Tourism Trading Standards Copyright 2006 – Biz/ed