BUSMGMT - 1 Business Characteristics

Businesses which develop products for distribution from raw goods

• Producers
• Processors
• Manufacturers
• Raw Goods

Materials derived from natural resources

• Producers
• Processors
• Manufacturers
• Raw Goods

Businesses which change raw goods into a more finished form, known as processed goods processed goods

• Producers
• Processors
• Manufacturers
• Raw Goods

Businesses which change raw or processed goods into finished goods

• Producers
• Processors
• Manufacturers
• Intermediaries

Businesses which move finished goods from one business to another by buying, storing and reselling goods; often referred to as “middlemen”

• Producers
• Processors
• Manufacturers
• Intermediaries

Businesses which provide services to consumers and other businesses

• Non-profit Organizations
• Service Firms
• Human Resources
• Intermediaries

Businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit

• Non-profit Organizations
• Service Firms
• Human Resources
• Intermediaries

Department responsible for maintaining the employment process, training and developing staff and following laws and proper procedures

• Non-profit Organizations
• Service Firms
• Human Resources
• Intermediaries

Pyramid expressing the needs of people in levels: basic needs, safety, belongingness, love, esteem and self-actualization

• Maslow's Hierarchy of Needs
• Cooperation
• Management
• Accounting

Process of effectively working together in group settings

• Maslow's Hierarchy of Needs
• Cooperation
• Management
• Accounting