Ib Business and Management 1.2 Study Notes

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Unit 

  1.2 

  : 

  Types 

  of 

  Organization 

  
Private Sector Public Sector
- Comprises 

  privately 

  owned 

  businesses
- Run 

  and 

  owned 

  by 

  private 

  individuals 

  and 

  
businesses
- Private 

  and 

  public 

  companies
Three 

  main 

  types 

  of 

  private 

  sector
1. Sole 

  traders
2. Partnerships
3. Companies
- Comprises 

  organizations 

  which 

  are 

  administered 

  
by 

  the 

  government 

  
- Owned 

  and 

  controlled 

  by 

  the 

  government 

  
- Post 

  offices, 

  public 

  hospitals, 

  public 

  schools 

  
Objectives
1. Increase 

  market 

  share
2. Increase 

  Sales
3. Profit 

  maximization
4. Market 

  dominance
5. Fulfill 

  Corporate 

  Social 

  Responsibilities
6. The 

  provision 

  of 

  private 

  goods 

  and 

  services 

  
Objectives
1. Reduce 

  unemployment
2. Ensure 

  economic 

  stability
3. Provide 

  essential 

  goods 

  and 

  services 

  that 

  would 

  
be 

  inefficiently 

  provided 

  or 

  not 

  provided 

  by 

  the 

  
private 

  sector 

  (Even 

  the 

  government 

  does 

  not 

  
make 

  any 

  profit)
Public 

  corporations ...
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