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Business Management - Coggle Diagram
Business Management
Types of Firms
Trading Firms: Business that buys goods and resells them, usually at a higher price
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Manufacturing Firms: A business involved in the physical construction of goods, typically from buying raw materials and manufacturing a finished product.
Combination Firms: Many firms are actually a combination of two or more of these classifications. For example, a petrol station
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Sourcing of Finance
Where a business gets money from to fund their business activities, can be gained from either internal or external sources.
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External
Bank loans, government grants and external investors
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