Melvin Feller Discusses Business Types and Forms
By: Melvin Feller
Tags: Startup, Small Business Owner, Real Estate, Entrepreneurship, Small Business

Melvin Feller Discusses Business Types and Forms

Melvin Feller Business Group in Burkburnett Ministries and Dallas Texas and Lawton Oklahoma. Our mission is to call and equip a generation of Christian entrepreneurs to do business as ministry. We provide workshops and resources that help companies discover how to do business God’s way and provide a positive outreach as the director. When the heart of a business is service rather than self it can be transformed into a fruitful business ministry earning a profit and being of service to the community and their customers. Melvin Feller is currently pursuing another graduate degree in business organizations.

Business Types and Forms by Melvin Feller

Business types and forms are created to make money. In economics, business is an organization that sells goods or services to consumers or other businesses, to make a profit. Historically the English word for business, originated from the word “busy” in the context of individual, community, or society. In a sense, busy with activity and profitable work. There are many business types and forms.

In a capitalist economy, where private parties own most businesses, business is set up to make a profit and increase the prosperity of their owners. Owner and operator of a business are rewarded according to the time, effort, or capital they provide.

However, not all businesses purely pursue profits, such as business co-operative that aims to improve the welfare of all members or a government institution that aims to improve people’s welfare. This business model contrasts with the socialistic system, where mostly the government, the public, or a union owns big business.

Business Types: The Basic Form of Business Ownership

Although the forms of business ownership is different in every country, some forms are considered common:

Private companies: Private companies is a business whose ownership is held by one person. Owner of a proprietorship has unlimited liability for corporate assets. That is, if the business suffered a loss, the owner who had to bear all the losses.

Business Types and Forms by Melvin Feller

Partnership: Partnership is a business type in which two or more people work together to operate the company to earn profit. Just as a proprietorship, each partner (union members) have unlimited liability on company property. Fellowship can be grouped into limited partnership and partnership firms.

Company: The Company is a business whose ownership is held by some people and supervised by a board of directors. Each owner has limited liability for corporate assets.

Cooperative: is a business that consists of persons or legal entities with the bases of cooperative activities based on the principle of cooperation as well as a popular economic movement based on the principle of kinship. Cooperative aims to improve the life of its members. The main characteristics that distinguish cooperative with other business entities are members of cooperatives have a dual identity. Dual identity means a member of the cooperative is the owner and user of services of the cooperative.

Business Types and Forms by Melvin Feller

Classification of Business Types

One of the many ways you can use is to classify a business based on the activities done in making a profit.

Manufacturing is a business that manufactures products derived from raw materials or components, and then sold for profit. Examples are manufacturing companies that produce physical goods such as cars or pipes.

Business Types and Forms by Melvin Feller

Business Services is a business that produces intangible goods, and earn a profit by charging for services they provide. Examples of service businesses is a consultant and psychologist.

Retailers and distributors are those who act as intermediaries between producers and consumers. Most shops and consumer-oriented companies are distributors or retailers.

Agriculture and mining business is a business that produces raw materials, such as plants or minerals.

Financial business is business benefit from investment and capital management.

Business information is the business of making profits mainly from the turnover-back intellectual property (property intellectual).

Utilities are businesses that operate services to the public, such as electricity and water, and are usually funded by the government.

Real estate business is a business that generates profits by selling, renting, and property development, houses, and buildings.

Transportation is a business advantage by delivering goods or people from a location to another.

Business Types and Forms by Melvin Feller

Management

Management is the studying of business operations efficiently and effectively about any business types. The main branches of management are financial management, marketing management, human resource management, strategic management, operations management, production management, information technology, and business intelligence.

Melvin Feller Business Consultant, Business Owner, Burkburnett ministries and Graduate Student Candidate in Business Organization

Melvin Feller Business Consultants Ministries Group in Texas and Oklahoma. Melvin Feller founded Melvin Feller Business Consultants Group and Burkburnett Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes and a positive outreach with grace and as a ministries. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.