Long answer questions.
1. Explain various types of manufacturing business.
2. Explain various types of non-corporate business enterprises.
3. Explain various types of corporate business enterprises.
4. State any six characteristics of entrepreneurship.
5. Explain any four managerial functions of an entrepreneur.
6. Explain any four promotional functions of an entrepreneur.
Answers
Answer:
1.Manufacturing plays a huge role in modern society, as everything from knitting textiles to oil extraction to steel production falls within this sector of business. The concept of manufacturing rests upon the idea of transforming raw materials – either organic or inorganic – into products that are usable by society. The Bureau of Labor Statistics classifies manufacturing into hundreds of subsections.
Clothing and Textiles
Companies that process raw wool, cotton and flax to make cloth are categorized under the clothing and textiles sector. This also applies to using wool and cloth to make clothes, outerwear, upholstery fabrics and bedding. The output of seamstresses and tailors belongs to the clothing and textile sector. Synthetics such as polyester fall under chemical manufacturing. The material, not the product, is at the center of defining this sector.
Petroleum, Chemicals and Plastics
The process of turning chemicals, coal and crude oil into usable products, along with the making of soaps, resins, paints and pesticides and medicines belong to this sector of manufacturing. But rubber manufacturing is considered a part of plastic work. This sector of industry also includes the use of crude oil to make certain plastics, as well as gasoline and other chemicals.
Metal Manufacturing
Metal ManufacturingAlong with oil and chemical manufacturing, metals belong to heavy industry, while the remaining sectors are generally considered as light industry or consumer-oriented industry. The production of metals includes all forms of iron, aluminum and steel manufacturing, as well as forging, engraving, coating and stamping.
Food Production
The inclusion of agriculture into manufacturing in modern society shows how agriculture has changed over the years, imitating more of a food production factory than an organic-style farm of just a century ago. As the simplest of all manufacturing industries, in includes all forms of food production – from the farm to the dinner table – including such work as canning and purifying.
Petroleum, Chemicals and Plastics
The process of turning chemicals, coal and crude oil into usable products, along with the making of soaps, resins, paints and pesticides and medicines belong to this sector of manufacturing. But rubber manufacturing is considered a part of plastic work. This sector of industry also includes the use of crude oil to make certain plastics, as well as gasoline and other chemicals.
Answer:
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Explanation:
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