Lewis Ablett
Mind Map by Lewis Ablett, updated more than 1 year ago
Lewis Ablett
Created by Lewis Ablett about 5 years ago


AS level Business Studies Mind Map on Ownership, created by Lewis Ablett on 09/14/2016.

Resource summary

  1. Franchises
    1. Advantages
      1. Great for expanding across the world.
        1. Access of better talent in the workplace.
          1. Easy production of capital.
            1. Minimised risk of growth.
            2. Disadvantage
              1. Less control on shops you have bought.
                1. Weak core of the community.
                  1. Need a lot of planning from your franchisees
                  2. Franchise is a way of creating "chain stores" without any need for investment and liability
                  3. Sole Trader
                    1. Where you own your business and make your own profit
                      1. Advantage
                        1. The most easiest way to start a business
                          1. There is little or no regulations on how to run your business
                            1. It would be more sociable with your customers
                            2. Disadvantages
                              1. If your business is in debt then there is a huge possibility that the Repoman will take your personal belongings to pay your debt.
                                1. You need to pay your employees by yourself.
                                  1. If the business fails, you fail.
                                2. Partnership
                                  1. When two to twenty people can work together in the business cooperating.
                                    1. Advantages
                                      1. More access to skills and experiences
                                        1. Less stressful
                                          1. Being able to look at problems in different angles
                                          2. Disadvantages
                                            1. You will have conflicts with your partner or partners
                                              1. Slower decision making
                                                1. You won't be able to do your own things.
                                              2. Worker Cooperative
                                                1. Public Limited company
                                                  1. A company that is featured in the Stock Market and has it information shared to the public.
                                                    1. Disadvantages
                                                      1. If your business sell poorly then most likely your stock will decrease which maye lead to closure of company
                                                        1. Very differcult to set up
                                                          1. Less control in the company
                                                          2. Advantages
                                                            1. Easily produced capital
                                                              1. Shareholders are able to buy and sell your shares
                                                                1. The value of your company is displayed
                                                              2. Private Limited company
                                                                1. A Company that has limited liability or protection for it's shareholders. Unlike public these do not show on the stock market.
                                                                  1. Advantages
                                                                    1. Limited Liability to shareholders
                                                                      1. Much easier to sell the company
                                                                        1. More opportunity to make more profit by issuing shares
                                                                        2. Disadvantages
                                                                          1. Less private then a sole trader
                                                                            1. Expensives for administration is higher.
                                                                              1. Professional accountancy is required to assist preparation
                                                                            2. Workers cooperative
                                                                              1. Advantages
                                                                                1. Long term security
                                                                                  1. A say in the future of the business
                                                                                    1. Everybody owns the business which means everyone can share their profits
                                                                                    2. Disadvantages
                                                                                      1. Arguments over pay and working hours
                                                                                        1. More stress about new business work
                                                                                          1. potiental loss of redundancy payment
                                                                                          2. A cooperative that is owned by the workers
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