• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Forms of business organisation

Extracts from this document...


1) FORMS OF BUSINESS ORGANIZATION a) Sole proprietorship: in this business is run by only by one man and the profits and losses are taken by him only. In this case, resources are scarce which may act as a hindrance for the profit of the business. The liability is unlimited and it is easy to form such a enterprise as only one person owns the business. b) Partnership firm: such a category involves two or more people to form a organization. The liability is unlimited and it doesn't involve many legal issues in its formation. c) Note: acc. to the partnership act of India, 1956, there is no limit on the no. of people who can form such organization. But acc. to the co. act, the limit for the banking sector is just 10 people and for any other business organization, the limit is 20 people. d) Joint Stock Company: such business organization is characterized by a joint stock, which is held by all the members on equal basis. ...read more.


b) Labour: businessman would always like to reduce its labour cost and it would prefer a area the labour is easily available. c) Transportation & Electricity: he would prefer facilities like Transportation & Electricity. They should be easily available and that to at a lower cost so that the overall costs are reduced. d) Raw Material: the raw material should be easily available and that to in abundance at a cheaper cost to meet the production targets. e) Banking: banking facilities should be easily available in that area for the smooth financial requirements of that company. f) Climatic conditions should be favorable for the opening of plant because you can't afford to open a plant in that area which is affected by floods, draughts, etc. g) Government Rules and Regulations should be not that strict that it becomes difficult for you to run your business. 3) GOVERNMENT POLICY According to government policy, to check concentration of industries at one point, the government gave two different approaches i.e. ...read more.


Fabian entrepreneurs are those who will continue to use the same systems or techniques of operations unless and until they are forced by the external factors to change their way, e.g. the case study of Nirma- initially the company used door-to-door selling to market their product. But it was forced by the competitors e.g. surf, etc. to change its process or marketing strategies to stay ahead in the competition. 4) Drone are those entrepreneurs who will continue to use same techniques even though if they are forced by the external factors. As a result, these entrepreneurs will be wiped out from the competitive market due to the usage of the same product or technique or procedures e.g. Super Seal Ltd. Which is a Faridabad based company, which has introduced the airtight containers, but due to its old technology the company was forced to shut down its operation/plans. The major drawback of this philosophy given by Dan Holf was that it had included those people also who didn't fall under the category of entrepreneurs or those people who were devoid of any features of the entrepreneurs. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. "Feasibility study of starting a new business".

    There needs to be a doorman in every corner of the room, and because there are two floors 8 doormen would be needed. DJ The DJ is as important as any member of staff. He or she provides the atmosphere, and so it is essential that a good DJ is

  2. Implementation of ATMS at SBI. Banks in India are looking at deploying biometric ATMs ...

    * Digital Video Surveillance System (DVSS) ATMs installed from 2005 onwards, (under Phase IV and V) are provided with DVSS, wherein the images are recorded on the Hard disk of the ATM PC. This has saved our branches from the tedious work of loading / maintaining the cassettes.

  1. Chinese Entrepreneurs in Singapore: Paths to Success

    As such, family connections were an important factor for obtaining employment opportunities. (Chan & Chiang, 93) When Ng first arrived in Singapore, he was not received by a relative or passage broker.

  2. Are entrepreneurs made or born?

    Very often, they display initiative or business acumen at a young age such as doing jobs in the neighbourhood or undertaking enterprising ventures in sport or music while still in school. This apparent dynamism and need for achievement is often related to their position within the family, relationship with parents, and domestic environment.

  1. Novartis Pharmeceuticals Ltd.

    Novartis employees and operations in the UK make a vital contribution to the overall Novartis commitment to improve health and well being all over the world. Novartis medicines are used to make organ transplantation possible and are used in the treatment of cardiovascular disease, skin diseases, cancer, Alzheimer's disease and schizophrenia.

  2. Campden and Chorleywood Food Research Association (CCFRA) is the largest independent membership based organisation.

    Now we come to the current name, which originated from many aspects around the country. 'Campden Food and Drink Research Association' was in partnership with 'Chorleywood Food Research Association'. The company in Chorleywood was not doing as well as expected, so they closed this company down in Chorleywood and moved

  1. Hotspur & Wren Ltd - Business Studies Case study

    Below is a table showing the advantages and disadvantages of becoming a PLC for Hotspur & Wren Ltd: Advantages Disadvantages * All members have limited liability. * Firm continues to trade even if one owner dies. * More power is enjoyed due to larger size.

  2. A proposal to modify "Exercisco Fitness Club" in Pokfulam, the location has been proposed ...

    As seen now the forms are kept in cabinets which are not safe, so it is really easy to vandalize the member personal information and course information. Input Processing Output Customer's Personal Information Record the information on the member form and file it.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work