DIFFERENCE
This query is : Resolved
01 October 2010
Can any one please tell me what is the difference b/w a FIRM & an INDUSTERY
01 October 2010
An industry refers to many companies in the same line of business, i.e. the steel industry, the pharmaceutical industry. A company is a business: usually an incorporated entity or a partnership.
A company is a business generally with a profit motive and with shareholders often not involved in the business either as employees or as clients. A cooperative is organized like a for-profit business, but without the aim of making profits. The profit is returned to members of the cooperative, who are also the owners, by paying them as high a price as possible without causing losses to the cooperative. An example would be an agricultural cooperative. Or, in the case of a consumer cooperative, this might be a supermarket where members receive food at near cost. Often in such a latter case, members may work part time in the business.
Regards
A company is a business generally with a profit motive and with shareholders often not involved in the business either as employees or as clients. A cooperative is organized like a for-profit business, but without the aim of making profits. The profit is returned to members of the cooperative, who are also the owners, by paying them as high a price as possible without causing losses to the cooperative. An example would be an agricultural cooperative. Or, in the case of a consumer cooperative, this might be a supermarket where members receive food at near cost. Often in such a latter case, members may work part time in the business.
Regards
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