Business Support Services — Chapter Summary
Telangana Open School (TOSS) · Class 12 · Business Studies
Summary of Business Support Services for Telangana Open School (TOSS) Class 12 Business Studies. Every business, whether big or small, needs support.
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Overview
Every business, whether big or small, needs support services to function smoothly. From a local grocery shop to a large manufacturing unit, various services help in moving goods from producers to consumers. These services include banking, insurance, transportation, communication, and warehousing. To
Key Concepts
Banking refers to services provided by
Banking refers to services provided by banks such as accepting deposits, giving loans, and enabling money transfers. Commercial banks offer various ac
Insurance is a contract where
Insurance is a contract where an individual or business pays a premium to an insurance company to get protection against financial loss from risks lik
Transportation involves moving goods and people
Transportation involves moving goods and people from one place to another using road, rail, air, or water transport. It helps in creating place utilit
Communication is the exchange of information
Communication is the exchange of information through oral, written, or non-verbal means. Business communication uses postal services (like speed post,
Warehousing means storing goods systematically until
Warehousing means storing goods systematically until they are needed for sale or use. Types include private, public, government, bonded, and cooperati
Learning Objectives
- Describe different types of support services
- Discuss the importance of these support services for a business
- Apply a right mix of support services for a particular business
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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