The biotechnology industry is fully research based and this intensively research based sector yielded revenues worth $50.7 billion in the year 2005. $19.8 billion was spent for research and development by the United States Biotechnology industry.
Biotechnology industry and the economy:
Various activities related to life sciences as well as the biotechnology industry recruited 1.2 million individuals in the year 2004 in the United States of America. In addition to the 1.2 million job opportunities, 5.8 million job openings associated with the biotechnology industry was also created. Average yearly salary of the individuals employed in the biotechnology industry was approximately $65,775 in the year 2004. The biotechnology industry brought finances worth in $20 billion in finances in the year 2005. Market Capitalization of the biotechnology companies which traded publicly stood at $410 billion as on 31st December, 2005.
Role of the biotechnology industry:
* 200 plus vaccinations, products, therapies have been created by the biotechnology industry to combat cancer, autoimmune syndromes, diabetes, HIV/AIDS etc.,.
* Biotechnology industry has developed several environment friendly products treating elements which pollute the environment.
* Biotechnology is also used in industrial houses for the optimum usage of the various forms of energy.
* Biotechnology industry also plays a significant role in taking forensic science ahead by using methods relating to DNA fingerprinting.
Thursday, January 13, 2011
Business
A business is an organization which is legally recognized to offer goods and services to the consumers and other entities like governments, social sector organizations, and other corporate entities.
Businesses are one of the building blocks of capitalist economies. Most businesses are privately owned, but they can be listed on stock markets or owned by governments and other organizations. The main purpose of a business is to earn profit and add to the wealth of their owners or shareholders. By providing useful goods or services and assuming some risks, businesses seek to develop a positive cash flow.
Types of Business at a Glance
Business types are normally defined by means of ownership, as outlined below:
Sole proprietorship: A business owned by one person. This is the simplest and most prevalent form of business worldwide, but also the least economically productive. Most ‘mom and pop’ shops and freelancers tend to fall into this category. The owner has total and unlimited liability for all debts incurred, but may pay less tax and be subject to less stringent regulations.
Partnership: A business owned by two or more partners. Each partner has total and unlimited liability for all debts of the business in a general partnership, but there are some levels of protection in limited partnerships and limited liability partnerships. Traditionally, professional services organizations like legal and consultancy practices have tended to form as partnerships.
Corporation: A limited liability business that has a separate legal entity than its owners. A corporation is designed to generate profit, has more than one owner, and has a board of directors who are responsible for hiring (and firing) its management team. Public corporations will list some or all of their shares on stock markets, and will then be required to make public their financial performance.
Cooperative: Like a corporate, a cooperative business or a ‘co-op’ is a limited liability entity that is for-profit. However it is owned by members, normally in large numbers, and not shareholders. Members have voting rights on all major business decisions. Co-ops are normally classified as either consumer cooperatives or worker cooperatives.
Categories of Business
Businesses can be categorized by the nature of services offered, as follows:
Service businesses: These businesses specialize in providing intangible products and services and earn a profit by charging a certain amount for the services that they offer. Business organizations including lawyers, accountants, consulting firms, designers, architects, entertainers and other professionals come under the purview of service businesses.
Financial businesses: These businesses include banks and other corporate entities that deal with capital management and investment.
Manufacturers: These businesses specialize in production of goods from raw materials. Manufacturers earn profits by selling final products in the domestic and/or international markets.
Retailers and distributors: These business organizations serve as mediators between manufacturers and consumers. The majority of consumer-oriented outlets, e-commerce sites and catalogue companies come under this category.
Real estate businesses: These businesses generate profits by trading buildings, land, and all other forms of residential and commercial property.
Agricultural and mining businesses: These businesses are involved in the production and distribution of raw materials for the manufacturing companies.
Transportation businesses: These businesses generate profits by transporting people, commodities, parts, and finished goods.
Utilities: These businesses are involved in providing public services like sewage treatment, communications, and power.
Information businesses: These businesses deal with production, distribution, and marketing of software and hardware products. Outsourcing businesses also fall under the domain of information business.
Businesses are one of the building blocks of capitalist economies. Most businesses are privately owned, but they can be listed on stock markets or owned by governments and other organizations. The main purpose of a business is to earn profit and add to the wealth of their owners or shareholders. By providing useful goods or services and assuming some risks, businesses seek to develop a positive cash flow.
Types of Business at a Glance
Business types are normally defined by means of ownership, as outlined below:
Sole proprietorship: A business owned by one person. This is the simplest and most prevalent form of business worldwide, but also the least economically productive. Most ‘mom and pop’ shops and freelancers tend to fall into this category. The owner has total and unlimited liability for all debts incurred, but may pay less tax and be subject to less stringent regulations.
Partnership: A business owned by two or more partners. Each partner has total and unlimited liability for all debts of the business in a general partnership, but there are some levels of protection in limited partnerships and limited liability partnerships. Traditionally, professional services organizations like legal and consultancy practices have tended to form as partnerships.
Corporation: A limited liability business that has a separate legal entity than its owners. A corporation is designed to generate profit, has more than one owner, and has a board of directors who are responsible for hiring (and firing) its management team. Public corporations will list some or all of their shares on stock markets, and will then be required to make public their financial performance.
Cooperative: Like a corporate, a cooperative business or a ‘co-op’ is a limited liability entity that is for-profit. However it is owned by members, normally in large numbers, and not shareholders. Members have voting rights on all major business decisions. Co-ops are normally classified as either consumer cooperatives or worker cooperatives.
Categories of Business
Businesses can be categorized by the nature of services offered, as follows:
Service businesses: These businesses specialize in providing intangible products and services and earn a profit by charging a certain amount for the services that they offer. Business organizations including lawyers, accountants, consulting firms, designers, architects, entertainers and other professionals come under the purview of service businesses.
Financial businesses: These businesses include banks and other corporate entities that deal with capital management and investment.
Manufacturers: These businesses specialize in production of goods from raw materials. Manufacturers earn profits by selling final products in the domestic and/or international markets.
Retailers and distributors: These business organizations serve as mediators between manufacturers and consumers. The majority of consumer-oriented outlets, e-commerce sites and catalogue companies come under this category.
Real estate businesses: These businesses generate profits by trading buildings, land, and all other forms of residential and commercial property.
Agricultural and mining businesses: These businesses are involved in the production and distribution of raw materials for the manufacturing companies.
Transportation businesses: These businesses generate profits by transporting people, commodities, parts, and finished goods.
Utilities: These businesses are involved in providing public services like sewage treatment, communications, and power.
Information businesses: These businesses deal with production, distribution, and marketing of software and hardware products. Outsourcing businesses also fall under the domain of information business.
Casino industry
The casino industry is a global gaming industry generating a large volume of revenues, and one that has been growing strongly, particularly as affluence grows in Asia. It offers a large variety of employment opportunities. Casinos are entirely illegal in some countries such as India and most of the arab world, while they are being partially legalised in countries such as Singapore.
Industry Gross Revenue
Card Rooms $1.10 billion
Commercial Casinos $34.11 billion
Charitable Games and Bingo $2.24 billion
Indian Casinos $25.08 billion
Legal Bookmaking $191.0 million
Lotteries $24.63 billion
Pari-mutuel Wagering $3.58 billion
Casino industry employment
Casino industry employs workers for conduction of table games like following.
1.Craps
2.Roulette
3.Red dog
4.Blackjack
5.Baccarat
Some casino employees are employed for keeping a tab on patrons and for detection of cheating of house rules. Starting from gambling dealers, gambling cashiers, slot machine attendants, slot machine technicians, keno writers, gambling monitors, pit managers to casino managers a whole lot posts (to name a few) are available in casino industry. Apart from these, casino industry generates various types of support jobs in local hotel industry. These employ professionals in field of food and beverage preparation, building and maintenance, housekeeping, sales and marketing, purchasing agent and public relations to name a few.
Equipments used in casino industry include following.
1.Cards
2.Electrical test instruments
3.Gaming table
4.Hand tools
5.Chips and tokens
6.Markers
7.Spinning wheels
8.Tickets
9.Dice
Internet gambling
Since the dawn of the internet era, online gambling or internet gambling has gained immense popularity throughout the world. As per estimation there exists over 2,000 online gambling websites, which offer different kinds of wagering options like sports betting, bingo, online casino games and lotteries. In 2005 US earned $5.9 billion in revenues from internet gambling. Out of an estimated 23 million online gamblers nearly 8 million belonged to US in 2005. From a purely economic point of view, the casino industry leads to employment creation and helps local population to move to a higher welfare level via creation of many positive externalities.
Industry Gross Revenue
Card Rooms $1.10 billion
Commercial Casinos $34.11 billion
Charitable Games and Bingo $2.24 billion
Indian Casinos $25.08 billion
Legal Bookmaking $191.0 million
Lotteries $24.63 billion
Pari-mutuel Wagering $3.58 billion
Casino industry employment
Casino industry employs workers for conduction of table games like following.
1.Craps
2.Roulette
3.Red dog
4.Blackjack
5.Baccarat
Some casino employees are employed for keeping a tab on patrons and for detection of cheating of house rules. Starting from gambling dealers, gambling cashiers, slot machine attendants, slot machine technicians, keno writers, gambling monitors, pit managers to casino managers a whole lot posts (to name a few) are available in casino industry. Apart from these, casino industry generates various types of support jobs in local hotel industry. These employ professionals in field of food and beverage preparation, building and maintenance, housekeeping, sales and marketing, purchasing agent and public relations to name a few.
Equipments used in casino industry include following.
1.Cards
2.Electrical test instruments
3.Gaming table
4.Hand tools
5.Chips and tokens
6.Markers
7.Spinning wheels
8.Tickets
9.Dice
Internet gambling
Since the dawn of the internet era, online gambling or internet gambling has gained immense popularity throughout the world. As per estimation there exists over 2,000 online gambling websites, which offer different kinds of wagering options like sports betting, bingo, online casino games and lotteries. In 2005 US earned $5.9 billion in revenues from internet gambling. Out of an estimated 23 million online gamblers nearly 8 million belonged to US in 2005. From a purely economic point of view, the casino industry leads to employment creation and helps local population to move to a higher welfare level via creation of many positive externalities.
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