Business has been one big source of income from the past several decades in the world history. Different types of businesses have their impact on the global market. The trends in business in different times have been dynamic and changing. There are numbers of segments in the business. Total market business is categorized into different industries. These industries make rules and regulations for the market and those rules are channelized by them only.
In the ancient times, when there was no effect of currency or metal or paper made coins and notes then, there used to exist Barter system. Where, people used to trade goods against goods or we can say things against things. They used to do business for the goods of their needs. Gradually, time changed and revolution happened and then each king, queen and government issued their own currencies as per their time span.
Different Types of Business:
Majorly business is divided into 3 types, although it can be further divided into different kinds as per their nature.
- Manufacturing Business: Manufacturing business is an old form of business where one company manufactures the goods or products for different market customers. These products are customer centric and as per the current requirements and needs. This nature of business involves large scale of capital. And even to channelize it in a profitable manner there is large variable cost involved in it.
- Service Oriented Business: Service oriented business is a new sort of business which is now in trend worldwide. The origin of this type is not so old, although all these services were in existence from the beginning but not at large scale. Some of the service businesses don’t need huge capital to run this business. But, it can be opened and run potentially with a very small amount of funds.
- Merchandising Business: Merchandise business came into existence very lately. When the manufacturers and customers started feeling the need of some middle man sort of organization to manage the distribution system timely. Then this merchandising firm came into existence and it actually shared the load of burden from manufacturing firms. Merchandisers buy the goods and products form it’s manufacturers at a wholesale rate and they sale it to the local retailers at retail prices.
E-Commerce as an Emerging Business:
Although, there are only 3 major kinds of businesses in the world. But from the past 5-6 years E-commerce business has emerged as a strong business module in the world market as the whole business is run through internet. And it is a sort of platform where all the business companies and customers meet at one point and within few minutes of time. The most productive factor of this business is that it has reduced the time. And you can use online payment modes for the payment of purchased items.
Scope of Business in Future:
- We have come across the great changes in the business styles and trends and with the change in technology and because of the implementation of Artificial Intelligence, we can expect elephant size changes in the world of business and in the trends of global market.
- All the aspects of business will be automated and machine operated. It will reduce the human efforts but it will also affect the jobs available in the market right now.
- With time global market will be compressed and it will be shaped as one large market where all the countries and continents will perform as buyers and sellers.
- Total profits and productivity will be increased and money flow will be made more efficient and safe for one and all.
- The total time consumption will be reduced effectively. And even if one would like to trade in different countries then without employing much time the business will be able to do trading with others.
Trends in business will keep on changing as the environment we are living in is comprehensively dynamic by nature and it has direct or indirect impact on the global market business and trade. So, only those businesses will survive in future which will accept the changes and will improve their way of business in the world market. The business leaders create new trends and rest follow them.