Organizations can be classified depending on their nature of work
as follows:
Manufacturing based - Business organizations that are involved in
producing
Tangible goods or creating products are called manufacturing
organizations. Key Functions in manufacturing organizations include procuring
raw material, keeping Track of the inventory records, and supplying finished
products to distributors And retailers. Automobiles, Iron and Steel, Watches,
and Food and Beverages Processing units are examples of manufacturing
organizations.
Service based - Business organizations that are involved in
providing service to other businesses or people rather than tangible goods are
called service-based organizations. These organizations are directly involved
with customers and focus on people interaction and serving the customer rather
than transforming goods. Airlines, hotels, hospitals, banks, and insurance
agencies are examples of service organizations.
