Classifying Business The person I decided to focus on is my mother Cheri who works as RN (Registered Nurse) at the Brockville Psychiatric Hospital. One way businesses can be categorized is by whether they’re profit or non-profit. If the business is for profit the only goal is to make money. Profit comes from the money left over after the expenses are paid (Revenue-Expenses=Profit). On the other hand the goal of non-profit business is not to make profit but simply break even while providing products or services to the community for free. The Brockville Psych is non-profit since they provide both products and services to people for free using money given by the government. The hospitals goal is to cure or treat patients suffering from mental
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A business is considered to be small or medium sized if it has fewer than 500 employees. The majority of Canadian business are small or medium. The Brockville Psych has just under 500 employees so is therefore a medium sized business. Another way to classify a business is by if it deals in goods or services. Goods are things that are tangible (can touch them and take home) such as food, electronics, and clothes. Goods are also referred to as products. Services are intangible (meaning that something is performed). Many companies provide both goods and services however one of the one of the 2 is usually dominate. When a business offers both it’s called a product/service mix. The Brockville Psych is a product/service mix with the service as the main focus. The purpose is to provide care to mental patients.
Businesses can be classified by their channels of distribution which means how the product or service gets to the customer. They can be retail outlet meaning you physically go to the store to purchase. They can also be on-line meaning you order and pay on-line then it’s shipped to your door. There are also items considered business to business which are only purchased by other businesses or business to consumer which are. The Brockville Psych use business to consumer and operates from a physical
A business is considered to be small or medium sized if it has fewer than 500 employees. The majority of Canadian business are small or medium. The Brockville Psych has just under 500 employees so is therefore a medium sized business. Another way to classify a business is by if it deals in goods or services. Goods are things that are tangible (can touch them and take home) such as food, electronics, and clothes. Goods are also referred to as products. Services are intangible (meaning that something is performed). Many companies provide both goods and services however one of the one of the 2 is usually dominate. When a business offers both it’s called a product/service mix. The Brockville Psych is a product/service mix with the service as the main focus. The purpose is to provide care to mental patients.
Businesses can be classified by their channels of distribution which means how the product or service gets to the customer. They can be retail outlet meaning you physically go to the store to purchase. They can also be on-line meaning you order and pay on-line then it’s shipped to your door. There are also items considered business to business which are only purchased by other businesses or business to consumer which are. The Brockville Psych use business to consumer and operates from a physical