Meeting customer needs for competitive advantage

1970

 Sectors of the economy Economic activity is usually divided into 3 sectors: 1. Primary industry – involves extracting raw materials. When economies first start growing they are heavily dependent on their own raw materials – e.g. coal, iron ore and other metals that are useful in manufacturing processes. 2. As economies industrialise, secondary industries grow – consisting of construction and manufacturing such as car factories. These use the output of primary industry to produce semi-finished and finished goods – chocolate products, clothing, homes, etc. 3. In the third wave of development, countries move on to focus on service industry. The UK today is dominated by service industries in which employees provide direct services to people (e.g. a supermarket checkout assistant packing your bags), as well as business services (including financial services such as insurance, the hiring of equipment etc.) However, this classification is a simplification because many business activities involve more than one sector. Portakabin for example is primarily involved in manufacturing and assembly, although many of the processes carried out are in the tertiary sector e.g. the hire of buildings. Only by combining manufacturing and assembly with the provision of services is Portakabin able to meet customers’ needs. Portakabin…

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