different types of business ownership‚ such as being a sole trader‚ in a partnership‚ franchises and limited companies. Sole Trader The advantages of being a sole trader are as follows; They are easy to set up – There are very few complicated forms to fill in and sole traders can set up and run a business almost immediately. They are easy to run – The owner can do what they want‚ when they want‚ without consulting with colleagues‚ as they are 100% in control of the business. Tax advantages
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this assignment I am going to identify the purposes of different types of organisations‚ describe the extent to which an organisation meets the objectives of different stakeholders and explain the responsibilities of an organisation and strategies employed to meet them. I am also going to give examples based on my own personal experience. Identify the purposes of different types of organisation Business organisations can be divided mainly into two sectors. The private sector‚ which is formed
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Tuesday 10th February 2004 Business Studies - Portfolio In this portfolio I am going to investigate two contrasting businesses and I will be collecting information from each of them such as: ØTheir main activities‚ aims and objectives and ownership. ØHow they are organised. ØHow they communicate internally and externally. ØTheir external influences. The two businesses I have decided to investigate are Richer Sounds and the Tanning Shop. Richer Sounds Activities: Richer Sounds main activities
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Management Concepts Professor: Justin U. Harris Ph.D. Assignment #1 Comparing Two Businesses Authors Note James M. Gordon‚ Strayer University Correspondence concerning this paper should be addressed to James M. Gordon‚ E-mail: g2gretire@yahoo.com Assignment #1 Comparing Two Similar Businesses Amazon.com‚ Inc. (NASDAQ: AMZN) with a +$100 billion market capitalization is a multinational electronic commerce company headquartered
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P1 Describe the type of business‚ purpose and ownership of two contrasting businesses. In this task I will be stating the purposes of two of the contrasting businesses which are a LTD and a PLC. (New Forest Ice Cream and Thorpe Park) First of all I will look at the businesses individually and taking into account which type of business it is and its objectives. There are two main types of a limited company; A public limited company‚ (PLC) is normally a big‚ well-known business. This could be a business
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Sole proprietorship This business is an individual owned organization. This business is the most attractive because of its simplicity and control over the business. * Liability-.This business has unlimited liability. The owner is responsible for everything. If the business begins to fail personal assets and business assets can be sought after to pay off debts. There is no distinction between the two assets. * Income taxes- Business owners in a sole proprietorship file a 1040 as well as
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The Nature of Business and Ownership There are many types of business ownership‚ below is information about four types of businesses that I have researched. Sole trader An example of a sole trader would be Amro‚ a hair salon. It offers beauty services such as haircuts‚ manicures‚ pedicures etc. A “sole trader” business is owned by one single person‚ although it may have a number of employees. There are no legal requirements for setting up as a sole trader and the owner does not even need to
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UNIT1. BUSINESS PURPOSES Task 1– P1 Identify the purpose of four different business organisations Business Ownership Size Scale Purpose Employees Income/profit Tesco PLC 260000 in the UK‚ 380000 worldwide £46.6b sales National and international: 1500 stores in the UK and 2700 worldwide Tesco’s purpose is the make a profit. They supply goods and services to consumers. Their strapline is ‘every little helps’ Tesco is a public limited company (PLC). This means that the company
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Task 2- P2 I am going to discuss the different stakeholders involved in two contrasting businesses. I am going to explore the stakeholders involved in each business and how they are affected by the company. My first organisation is Boots Alliance‚ a pharmaceutical shop on most high streets. My second organisation is Oxfam charity. Both provide goods or services to the public; however they have different stakeholders affecting their decisions. Stakeholders are anyone that affects or can affect
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different types of small business different types of small business Legal Status The simplest legal forms for small businesses are sole proprietorships and partnerships. Neither is required to be registered with the state and taxes are managed on the owner’s or partners’ personal tax forms. These forms are best when there is little capital property or likelihood of being sued. A corporation is the opposite end of the spectrum‚ requiring registration with state and local authorities‚ separate
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