Secretaries and Company Procedures

Tertiary industries: These industries provides support to primary and secondary industries . Tertiary industry consits of : banking, transportation warehousing etc services.

Business risks is the possibility that a company will have lower than anticipated profits in future or even experience a loss . If there is a good management in business there will be no chances of business risks.

The business activity are of two types :

Profession is a type of paid occupation which involves training, utilization of skills for a prolonged period. Business, profession and employment all are considered economic activities because they consist of exchange of goods and/or services for money.

Non-economic activities are those activities which do not generate any income or money while they are carried out. Patriotism, sentiment, sympathy are all emotions, feelings of an individual whereas teaching is an activity which involves money transfer after it is carried out (unless it is intentionally carried out without any pay). Because a teacher gets salary for teaching, it is not an example of non-economic activity.

A business is an activity of making money by producing and buying and selling products. It is an entity which is established for earning profit which is the basic motive. Thus the income of the businessman is called profit.

Business involves maximum risk as it has some external and internal environment factors which are not in the control of business and creates various types of business risks. Employment, profession and teaching does not not involves as they get fixed remuneration.

A business activity involves regular economic production or exchange of goods and services for profit. Teaching one's own daughter at home is a non-business personal service and lacks commercial intent.