CHARACTERISTICS OF SERVICES

Jun 18th, 2015
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The services have unique characteristics which make them different from that of goods. The most common characteristics of services are: Intangibility. Inseparability. Perish ability. Variability. Intangibility- Services are activities performed by the provider, unlike physical products they cannot be seen, tasted, felt, heard or smelt before they are consumed.

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A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services,or both to consumers.[1] Businesses are predominant in capitalist economies, where most of them areprivately owned and administered to earn profit to increase the wealth of their owners. Businesses mayalso be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as acompany, although that term also has a more precise meaning.The etymology of "business" relates to the state of being busy either as an individual or society as awhole, doing commercially viable and profitable work. The term "business" has at least three usages,depending on the scope the singular usage to mean a particular organization; the generalized usageto refer to a particular market sector, "the music business" and compound forms such as agribusiness;and the broadest meaning, which encompasses all activity by the community of suppliers of goods andservices. However, the exact definition of business, like much else in the philosophy of business, is amatter of debate and complexity of meanings.Contents [hide]1 Basic forms of ownership2 Classifications3 Management3.1 Reforming state enterprises4 Organization and government regulation4.1 Commercial law4.2 Capital4.3 Intellectual property5 See also6 Notes and references7 External links[edit]Basic forms of ownershipSee also: Types of business entityAlthough forms of business ownership vary b

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