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

Types Of Business.

Extracts from this document...

Introduction

E1: Types Of Business A business can be classified according to its "sector". In the United Kingdom there are three sectors. The three sectors are:- * Public sector * Private sector * Voluntary sector The Public Sector This sector includes government-owned or government-controlled groups as well as public corporations such as the Post Office, the BBC, the Civil Service and local authorities such as County, Metropolitan or District Councils. Some businesses found locally are public sector. Local sports or leisure centres may be owned by the Council and also run by the Council. The Private Sector This sector includes businesses privately owned directly or indirectly. ...read more.

Middle

They include registered charities such as Oxfam. OWNERSHIP CLASSIFICATION: The six forms of ownership are: Sole Trader Businesses that are owned by one individual (also known as sole proprietorship). Here are some benefits and constraints of owning sole proprietorship, freedom in decision making and it is cheaper and easier to be established, constraints are if anything goes wrong you will have total responsibility with liabilities, you may lack competence in certain areas of the business, you may have to work harder and it will be harder to raise high capital. Partnership Businesses that are owned by two or more individuals who operate as co-owners. Some benefits are the business' capital would be higher, knowledge in certain aspects of the business, and liabilities are shared. ...read more.

Conclusion

Benefits and constraints will be later mentioned. Co-operative A group of individuals recognized as a body that owns and runs a company. Franchise Businesses that buys the right to sell another company's goods and or services exclusively in a certain area and carries that business' name. Some benefits are; you will obtain a known name, and in some cases they main franchiser will offer training. Some constraints are obtaining a franchise can be costly, you may not be able to make certain decisions, and you have to pay an amount on your profits to the franchiser. Charity Organizations that collect money and other voluntary contributions of help for people in need. One benefit is that you will get contributions of funds to commence your operation. A constraint is that sometimes it might be hard to operate with a shortage of funds. ...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. English for business

    to understand what is going on: most of your time in a meeting should be spent listening. You should take notes only intermittently. The trick is to be able to note down only keywords but you have to be attentive to record information properly.

  2. Business Studies

    lectures, seminars, apprenticeships and external courses > Informal training: Employee is shown or modelled the correct skills Induction > Critical area of training > Training given to new employees to enable them to do the job * Flexible working conditions - family friendly programs > Flexible working conditions: involves varying

  1. Business studies - Business Plan

    Advertising is always beneficial for a company but each form has its downside, after consideration about my finances I realize I wont have much to spend on advertising to begin with so I have choose one of the three I have listed as my form of advertising.

  2. Business Ownership

    PLC's do not have a strong communication links between their shareholders and employees because they have a large organisation. So this means that information has to travel through a certain amount of people before getting to the owner. So if there was a complaint from a Tesco store.

  1. Functional Areas

    Keeping records: They keep records on the computer because they can't get lost and can be saved. Responding to enquiries: They respond to enquiries in different ways Email is one of the ways they can respond to enquiries. Also McDonalds have a call centre which is another way you can contact the company on any enquiries.

  2. Applied Business Unit 1

    has increased to 16.6 percent over taking Sainsbury's and Morrison's put together who own 15.7 of the market Looking at the above evidence, it can be concluded that overall Asda are achieving their aims. Swift Supplies How successful is Swift Supplies in meeting the aims and objectives?

  1. sole traders and franchise businesses- unit 1

    Advantages of being a PLC (public limited company): - Shares can be sold to general public. - Large amount of profit can be made through the sale of shares. - They are able to produce goods at lower cost. - Goods can be borrowed at a cheaper price.

  2. Type of Business Ownership, sectors, types of bysiness and size of business

    Running public services at a local level also enables smooth and direct communications. Public sector services are of a great benefit to a business, they provide security for the business by the police, safe road provision by the council or highway department, and refuse disposal and pollution control by the environment and conservation department.

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