Business has got its own great value nowadays. Many people are actually showing interest in doing business in the present day world. There are many people who are leading their lives through business. In another context, if one creates or starts a business there are many people get a job through that business. In addition to this, their lives are getting benefits through that business and moreover many families are also living in a happy and joyous manner.
So, we can also say that this type of idea can also reduce the problem of unemployment. The unemployment is a major running problem in the present day world and the economy of every country is under effect by this problem. Business may include many fields like Industries, Self-Employment, etc.
Types of Businesses and Forms of Business Organizations
Coming to the concept of Industries we already have some prior knowledge regarding this. Industries are basically classified into three major types. They are Small-Scale, Medium Scale, and Large-Scale Industries. Where types of large-scale industries include huge companies like big factories, big companies which has a very good reputation and are actually known to a huge number of people in return.
So, many people come and purchase or have a huge number of transactions there with this kind of industries. As a result, the company or the business achieve a huge amount of turnover. As these are Large Scale Industries they need to maintain a very huge number of infrastructures so they invest a huge amount of money to maintain the Business.
Say for example the company Reliance which was actually there in a slight dissatisfactory mode with its profits before the introduction of Jio Mobiles and Jio Network but it was a great idea and it worked great which resulted in the great success of this idea which made Reliance Group stand first in today’s competitive world. It all happened because of this idea. Its share in the market has raised resulted in a great profit. So, it was a great come back by them into the market once again by perusing a great business. So, this is one such type of real-world example here in this context.
IKEA is one of the best examples. The company opened its first store in Hyderabad, India through which many new jobs were offered.
Coming to the context of Medium Scale Industries these are all set up for hap a medium profit in their business to sustain their lives these in turn also provide employment to a greater number of people. As in turn, it needs a minimum amount to invest in this into this kind of medium industry. For example, industries such as iron industry, etc come under this kind of category. They also pursue a medium scale of business in the market.
The third type is the Small Scale Industries which pursue their business. A small group of people runs this type of Business who are pursuing particular art to run their business in the market. This also removes the unemployment problem.