The main issue relates to corporate entity or personality‚ a company being a legal entity independent of its members‚ can enter into contracts and own property in its own right‚ can sue and be sued and also taxed in its own name. The principle of corporate entity was established in the case of Salomon v A. Salomon ‚ now referred to as the ‘Salomon’ principle. The facts of this case were that the owner of a business sold it to a company he had formed‚ in return for fully paid-up shares to himself
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organisations Here are some diferent types of organisations * Sole trader * Private limited company LTD * Public limited company PLC * Franchise * Partnership Sole trader Sole trader company is owned by and controlled by one person. The individual can take all the profit from the organization‚ however they are responsible of any debt and losses because they have unlimited personal liability. In terms of starting up the business the sole owner has to finance it themself. It
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implications for different people. For example‚ if the balance sheet of Company X records a net loss of £100‚000‚ to a manager this would indicate that somewhere along the lines‚ something has gone wrong. Whether the problem lies in the productivity of the staff‚ or that expenses outweigh income‚ a loss on the balance sheet would ordinarily lead a manager to implement new strategies in order to deal with the ‘problem’. However‚ if a company is in debt‚ generally speaking share prices will fall. The same
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contrasting companies chosen are: The private company is schuurman schoenen‚ this is a franchise company. The franchise is taken on by the CEO of a couple of other companies. The public company chosen is Shell. This is a large company that sells share on the stock market. The company has a large number of shareholders that benefit on the company’s performance. Stakeholder’s expectations in general: The interests from stakeholders in the company are based on the performance of the company. These
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ASSESSMENT COVER SHEET Unit Number and TitleAssessment TitleCourse TitleAssessment Code | Unit1 Business EnvironmentUnderstanding the Business EnvironmentHND Business HNDBUSCoreUnit1/Jan2013/ | Hand Out Date | 1st March 2013 | Hand In Date | 11th May 2013 | Lecturer(s) | GidraphMichikuAnujaPrasharVijay ShahDaniel RukareDhanChooramunJane EvansAdrian GauciMohit PunMichael Evans SohailChoudhurySalman Khalid | Internal Verifier | Jonathan Cartmell | Sources of information | 1. Course notes
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Business ownership is a mixed economy of Private sector Public sector Voluntary sector The private sector is companies‚ which are owned by individuals and private organisations.  Sole proprietor (1owner)  Partnership (2-20 owners)  Private Limited company Ltd (2-unlimited number of shareholders).  Public limited company Plc (2 unlimited number of shareholders)  Franchising (owned by one or more franchisees)  Co-operative (owned
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Introduction In this piece of coursework I will describe the different sectors; these are the public private and voluntary. Below I will describe each sector and talk about the key stakeholders‚ the main aims and objectives and the main strategies of each sector. The key stakeholders of businesses in the private sector are the owners and shareholders‚ whereas in the public sector‚ the government and user groups are the key stakeholders. Main aims and objectives of the businesses within the private
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INTERNATIONAL BACCALAURÉAT BACHILLERATO c BACCALAUREATE INTERNATIONAL INTERNACIONAL N04/370/S(2)M+ MARKSCHEME November 2004 BUSINESS AND MANAGEMENT Standard Level Paper 2 14 pages –2– N04/370/S(2)M+ This markscheme is confidential and for the exclusive use of examiners in this examination session. It is the property of the International Baccalaureate and must not be reproduced or distributed to any other person without the authorization of IBCA. –3– 1. (a) Explain
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senior position‚ due to downsizing in the company he was made redundant. As a result of his redundancy he received £200‚000 in cash. Mr. Ali Mujtaba’s wife wants him to start looking for another job but he has decided that he will not work for someone else but instead he would like to set up his own business so that he can utilise his knowledge and skills in full. After extensive research Mr. Ali Mujtaba decided to setup his own IT support and consultancy company. He approached his local business centre
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Contents Section 1: Business in Contemporary Society 4 Section 2: Business Information and ICT 44 Section 3: Decision Making in Business 84 Section 4: Internal Organisation 128 Section 1: Business in Contemporary Society The role of business in society Everyone in our society has ‘wants’. Some wants are for things like food‚ clothing and shelter while others are for entertainment‚ leisure‚ travel and so on. Taking everybody in society together‚ there are millions of wants
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