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Business Sectors

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Business Studies Mind Map on Business Sectors, created by maddiemurchie23 on 30/04/2013.
maddiemurchie23
Mind Map by maddiemurchie23, updated more than 1 year ago
maddiemurchie23
Created by maddiemurchie23 about 11 years ago
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Resource summary

Business Sectors
  1. PUBLIC SECTOR
    1. Aims & Objectives
      1. Social Objectives
        1. Increasing wealth
          1. available to all regardless of location or income
            1. high quality services as spending tax payers money
              1. services offered at prices that are cheaper than private sector or free at the point of use
              2. Owned by the government
                1. 28 big departments
                  1. Education
                    1. Health
                      1. Defences
                        1. etc.
                      2. Local authorities
                        1. Police
                          1. Libraries
                          2. Public Goods
                            1. Products we need in our everyday lives which would not be profitable when left to the private sector
                              1. Street lighting, defence and the police
                              2. Merit Goods
                                1. goods that would be under consumed when left to the market
                                  1. not affordable
                                    1. consumers might not see the benefit
                                    2. education & health
                                  2. PRIVATE SECTOR
                                    1. Aims & Objectives
                                      1. Mainly profit
                                        1. Some social (charities and social enterprises)
                                          1. Survival
                                            1. Image and reputation
                                              1. Market power
                                              2. Types
                                                1. Private Ltd Company
                                                  1. Limited liability
                                                  2. Sole Traders
                                                    1. Unlimited liability
                                                    2. Partnership
                                                      1. Unlimited liability
                                                      2. Non profit
                                                        1. Charity
                                                          1. Social enterprises
                                                          2. Workers cooperative
                                                            1. Owned by the workers
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