1.2 Types of Organisation

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Business Management (Unit 1: Business Organisation) Flashcards on 1.2 Types of Organisation, created by Sarah Manon Konn on 21/05/2015.
Sarah Manon Konn
Flashcards by Sarah Manon Konn, updated more than 1 year ago
Sarah Manon Konn
Created by Sarah Manon Konn over 9 years ago
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Sole Trader - One owner - No need to publish accounts (except tax) - Usually service firms s.a. car repairs
Partnership - Up to 20 owners - Limited need to publish accounts - Funded by partners' capital - Usually lawyers and medical practices
Private Limited Company (PLC) - Varying amount of owners - Sends financial statements to registrar - Receive capital from partners - Family run businesses like Lego
Publicly Traded Company (PTC) - Unlimited owners with global share exchange - Many funds if shares are sold, transparent accounts - Usually big companies like SONY and WalMart
Chartities, NGOs and volunteer organisations - Some NGOs are partnerships with governments - Donations provide funds - Usually Amnesty International, Red Cross
Private Sector - Focus: Profit maximisation - Not state controlled
Public Sector - Principally controlled, financed and operated by the government - Provide a service to consumers whatever the cost
For-Profit Organisations Organisations that aim to earn maximum profit at the lowest cost
Not-for-profit organisations Organisations that aim to raise money for a purpose, such as helping others in need
Cooperatives - Owned by the people (stakeholders) using it - "Anyone becoming a customer is an owner"
Micro-Finance Providers - Help entrepreneurs finance some start-up capital - Usually for people in developing countries
Public-Private Partnership (PPP/P3) - A contract between the public and private sector - Private company assumes all financial, technical and operational risk of public service that the government can't run
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