*Notes about Indian retail sector Definition of retail business Retail shop is a place of business usually owned and operated by a retailer but sometimes owned and operated by a manufacturer or by someone other than a retailer in which merchandise is sold primarily to ultimate consumers. Retail is the process of selling consumer goods to customers through multiple channels of distribution to earn profit. Retail is the sale of products to consumers in relatively small quantities. The consumers do not then sell on what they bought. In other words, the buyer does not resell. The buyer, in the retail sector, is the end of the line of the product. Put simply; the purchaser is the ultimate consumer. There are many types of retail businesses in world, like Discount stores Department stores Super markets Warehouse stores Convenience stores Hyper markets... Retail industry in India In the case of Indian economy, retail is the one of the pillars of the Ind...
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What is Corporation? And types of Corporation?
A corporation is an organization usually a group of people or a company authorized by the state to act as a single entity and recognized as such in law for certain purposes. corporation is a business entity that is registered with the Govt and that has its own legal identity. a corporation can be created by a single shareholders or by multiple shareholders who come together to pursue a common goal it can be formed as a "for - profit entity" or a "not for - profit entity" For-profit entities form the majority of corporations, and they are formed to generate revenues and provide a return to their shareholders, according to their percentage of ownership in the corporation. Not-for-profit entities operate under the category of charitable organizations, which are dedicated to a particular social cause such as educational, religious, scientific, or research purposes. Rather than distribute revenues to shareholders, not-for-profit organizations use their revenues to furth...
What is Business?
Business is an organization or entity that sells goods and services for profit. Business is something that operates in order to make profit so, the main purpose of every business is to make profit three types of business Sole proprietorship ( Single person owned stores) example : Bakery, Partnership firms (it had more than 2 members members also known as partners Corporation (it had group of persons or companies they joined together for a common purpose ) examples Amazon corporation, Apple ,Google so the organized effort of individuals or peoples to produce and sell of goods and services for a profit and satisfy society's needs is known as Business in Business everyone working towards a common goal, and the goal of business will vary based on the type of business and the strategy of business.