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The students will be able to
  • services and their characteristics;
  • difference between services and goods;
  • business services and their types;
  • the e-banking concept;
  • insurance policies and their types; and
  • description of warehouses and types.
Has anyone ever wondered how a petrol pump owner does his business in a village? How does he get petrol and diesel to the them in the interior? From where he gets the money to purchase large amount of petrol and diesel? The way he manages to communicate with petrol depots for his need and also to customers? How he protects himself from the risks involved in his business? The answers you need for these questions lie in the understanding of business services. The transportation of the fuel from the refineries to the pumps is carried out by train and tankers (transport services). They are then preserved at various depots of oil companies located in all important towns across India (warehousing services). The owners use postal, mail and telephone services to be in contact with customers, banks and the depots for the availability of their needs regularly (communication services). The oil companies always have to sell the fuel on advance payment, the owners take loans and advances from banks to fund their purchases (banking services). Petrol and diesel being very risky products, the owners safeguard themselves from various risks by getting the business, the products, the life of labours there, etc., insured (insurance services). Thus, we see that a business of providing petrol and diesel at a petrol pump is basically a collective outcome of so many business facilities. These services are being utilised in the entire process of shipment of fuel from the refineries to the petrol pumps, spread across India.

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