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

Internal organisation

Extracts from this document...

Introduction

Peter Shilton S11 Internal organisation The way in which a business is run is known as the internal organisation of a business. This can be a number of ways, including partnerships, sole proprietorships, and public or private limited companies. Since I am going to be setting up such a small company, I will need to set up as either a partnership or a sole proprietorship. A partnership is where two or more people run a business together. They usually do not want to hold total responsibility for the business whilst still being able to do their own work. A sole trader is a person that runs a business alone. ...read more.

Middle

much needs to be taken from just one person as in a sole proprietorship The distribution of the companies profits can cause problems, as one partner may feel that they deserve more than another Somebody to consult about decisions so that you are less likely to make wrong decisions Decisions may cause arguments because the partners may disagree over which decision to make You don't need to work as many hours, and you can have more holidays than in a sole proprietorship as there is another person to share the workload with If one partner feels another takes too many holidays, or is putting in a lot less work than themselves then arguments may be caused Sole Proprietorship Advantages Disadvantages Small, easily ...read more.

Conclusion

are ill Money is saved on taxes, and only the Inland Revenue and Customs and Excise need to know how well the business is doing Unlimited liability: if your business loses a lot of money or becomes in debt you are personally liable, and any of your possessions may be taken You do not have to share your money with anybody else, and can do whatever you wish with any profits Nobody to share responsibility with, therefore you need to be knowledgeable in all areas of business You do not need to publish any information which could be seen by other businesses or the public If you want any time off the business would have to stop running whilst you are away ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity 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 GCSE Business, Companies and Organisation, Activity essays

  1. Functional Areas

    Intranet McDonalds are now electronically linked to the intranet now. The intranet is a basic workstation where people working in the same business are linked together. This is a good because in this method no information should get lost or go missing as the computer has it saved.

  2. English for business

    -single -double -suites -rooms with bath /shower -room looking out to ... � What modern convenience can you have in a hotel? -central heating -laundry service -air conditioning -disco � Name some of the do's and don'ts of the hotels.

  1. Business studies - Business Plan

    The location which I choose to run my stall worked out very well, my stall is the first and last thing seen by tourists and people visiting the city. The reason for this is because I have set up at the starting end of the high street.

  2. Business Studies

    Corporate raiders and asset stripping - This involves the take over of a company and then striping it of all the assets. - This is not illegal but is considered unethical because it will affect many stakeholders involved, such as employees will be fired, shareholders will lose out on future

  1. Business Plan. After putting a lot of thought into what kind of business we ...

    In the private sector there are different types of businesses, some are small retails with a single owner. Others are big international companies such as Coca Cola. All businesses are different and vary depending on the kind of ownership and legal form they undertake.

  2. The Effects of Non-monetary Incentives on Employees

    c?uld pr?vid? n?w c?r? t? t?p p?rf?rm?r?. ?v?n if th? firm mu?t purch??? th? ?w?rd, it might r?c?iv? ? v?lum? di?c?unt un?v?il?bl? t? ?n ?mpl?y?? ?r ?t th? v?ry l???t ??v? th? ?mpl?y?? th? tr?n??cti?n c??t? r?quir?d t? ?bt?in th?

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