2. How do you classify store retailing ?
Answers
Answer:
A retailer is the last step of the supply chain. It is where consumers go to obtain goods and services. Without retailers, consumers cannot get what they want, where they want it, and when they want it. To best meet consumers’ needs, there are many types of retail formats, reflecting different scopes and strategies. We will cover these formats more in this section.
Explanation:
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Answer:
Sole Proprietorship: This constitutes the majority as many small business ventures start on a sole proprietorship basis only. In the case of sole proprietorship, the ownership of the business exists with a single person, usually the one who is responsible for the day to day affairs of running the business.
Partnership: This is also one of the most common business formats in India. In Partnership form of business, the ownership is shared between two or more people for running the business.
Joint Venture: A Joint venture involves the creation of a third or a new entity due to collaboration between two or more than two parties, with an agreement to manage the business operations in a particular area by combining their resources and sharing their profits as per the well-defined terms and conditions of the contract.
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