The capital goods sector is an untapped sector that needs huge laborers.
It is one of the most valuable sectors of any economy and shouldn’t be overlooked.
Are you looking for any job availability in the capital goods sector? If so, then you have come to the right place.
We will be looking at what the term capital goods is, types of capital goods, and available jobs under the sector.
What Are Capital Goods?
Have you ever heard of this word and don’t know what it means then this is for you.
Capital goods are goods or assets that are mainly used in the production process of manufacturing other products which will be used in the future. Capital goods are tangible and by that, I mean that they are mainly physical goods that can be seen and touched. Companies, businesses, firms, and industries use these goods to manufacture consumer goods. Consumer goods are gotten from capital goods. Hence, capital goods are very important.
What Are Some Examples of Capital Goods?
Capital goods are tangible goods and by that I mean they are physical goods from which other secondary and tertiary goods are being produced.
No business entity can perform without the need for capital goods. There are two major types of goods these include Capital goods and consumer goods. Capital goods are what is used in the manufacturing of consumer goods. Hence, consumer goods are simply known as the by-product of capital goods.
Below are some of the major examples of capital goods used by most businesses, industries, firms, and organizations in the daily running of their activities.
These are known to be fixed assets used by businesses for the transportation of movable goods which are used in satisfying consumer needs. Hence, they are simply capital goods since no business can function properly without vehicles.
These are also fixed assets and they include industrial equipment or tools used in industries for production activities. And since they make up the production process, they are indeed capital products.
Computing infrastructure and equipment are widely known to be capital goods as they help in every business process.
These equipment and tools are used by most businesses to aid the business’s daily routine and they are seen to be very vital to the existence of every business and also essential for the production of further goods.
Basic infrastructure like the land is very necessary for every business. A business needs to have a location and this is where land comes in as a fixed asset.
Every business has software. For example, accounting software is used in a business for collecting, managing and computing huge data and information about the business. It is also used in calculating daily business transactions. Hence, it is also a capital good since no business can perform well without it.
Power technology such as solar panels and batteries are essential to businesses as they help them keep track every day.
Furniture and Fixtures
Furniture and Fixtures such as office equipment, desks, and chairs are supplements used in most businesses and industries. Furniture and Fixtures are both fixed assets that make up the capital goods family.
Jobs Available in Capital Goods
There are several different job sectors you can work in the capital goods system and these jobs are high paying. If you are looking for any high-paying services in the capital goods sector then this is for you. Below is a list of jobs available in the capital goods sector.
An Industrial Designer is responsible for creating meaningful designs for medical, commercial, and industrial products such as home appliances, furniture, cars, and toys.
A Sales Engineer is responsible for explaining and teaching the benefits and uses of their products or services to their potential customers.
An Engineering Manager is responsible for drafting out the general concept of new products or services used in solving problems that may prevent the smooth running of the business.
A Manufacturing Manager is responsible for the general manufacturing process of consumer goods.
A Marketing Manager is in charge of the overall marketing strategy, campaign, and procedures used in informing potential customers of their products or services.
Research and Development Manager
A Research and Development Manager is responsible for performing useful marketing research used in identifying customers’ needs and useful means of satisfying customers’ desires.
A Warehouse Worker is someone who works in the business warehouse and he or she is responsible to monitor and protect equipment and tools kept in the warehouse.
Business Development Manager
A Business Development Manager is responsible for planning business strategies that perfectly work for the business. He or she must be self-driven and must have good technical thinking by providing useful ideas that can enhance the growth and development of the business.
A Robotics Engineer is responsible for building or creating AI (Artificial Intelligence) or technological robots that are capable of solving tasking problems and carrying out business tasks to help ease the process.
A Manufacturing Engineer is responsible for creating equipment and infrastructure used in the manufacturing process of goods. He or she is expected to have good technical skills in developing useful operational tools for production.
Frequency asked Questions
What Are The Two Types of Goods?
There are mainly two types of goods they include Consumer goods and capital goods.
What Are Consumer Goods?
Consumer Goods are goods that are used directly by consumers of customers to satisfy their unlimited wants.
Differences Between a Consumer Goods And Capital Goods
There are lots of differences when it comes to both types of goods and they include:
- Capital goods are used in the manufacturing of consumer goods and not the other way round.
- Consumer goods are purchased to satisfy consumers’ needs whereas capital goods are used to manufacture other products.
- Capital goods are mainly durable goods whereas consumer goods fall into three categories namely, durable goods, nondurable goods, and services.
If you had followed through from the beginning of the topic to this end you would now have known some of the jobs you can work in the capital goods sector ranging from Industrial Designer to Robotics to Warehouse Worker.