Business Organisations and Operations Assignment
Business Organisations and Operations Assignment
Task 1
Differences between types of organisations
Sole trader: is the simplest way to run a business - it does not involve paying any registration fees, keeping records and accounts is straightforward, and you get to keep all the profits. However, you are personally liable for any debts that your business runs up, which make this a risky option for businesses that need a lot of investment.
Partnerships: consist of two or more partners who are both responsible for the business. They share assets, profits, liabilities, and management responsibilities for running the business.
General partnerships are formed by individuals. They are taxed in the same manner as a sole proprietorship, meaning that each partner includes business income on his or her personal income tax return.
A limited company: is a company in which the liability of the members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. And the former of these, a limited company limited by shares, may be further divided into public companies and private companies. Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast anyone may buy shares in a public limited company.
Public Sector: organisations are owned and controlled by the government or local government. They aim to provide public services, often free at the point of delivery e.g. the NHS and the police force.
About QVC
QVC is a virtual shopping centre where customers can shop for quality merchandise 24 hours a day, seven days a week via television, telephone or computer. Their goal is to exceed the expectations of our customers by offering unique and innovative products which are matched in quality and value. To do this, they source products in the United Kingdom as well as every continent on the globe except Antarctica. Reaching over
Task 1
Differences between types of organisations
Sole trader: is the simplest way to run a business - it does not involve paying any registration fees, keeping records and accounts is straightforward, and you get to keep all the profits. However, you are personally liable for any debts that your business runs up, which make this a risky option for businesses that need a lot of investment.
Partnerships: consist of two or more partners who are both responsible for the business. They share assets, profits, liabilities, and management responsibilities for running the business.
General partnerships are formed by individuals. They are taxed in the same manner as a sole proprietorship, meaning that each partner includes business income on his or her personal income tax return.
A limited company: is a company in which the liability of the members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. And the former of these, a limited company limited by shares, may be further divided into public companies and private companies. Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast anyone may buy shares in a public limited company.
Public Sector: organisations are owned and controlled by the government or local government. They aim to provide public services, often free at the point of delivery e.g. the NHS and the police force.
About QVC
QVC is a virtual shopping centre where customers can shop for quality merchandise 24 hours a day, seven days a week via television, telephone or computer. Their goal is to exceed the expectations of our customers by offering unique and innovative products which are matched in quality and value. To do this, they source products in the United Kingdom as well as every continent on the globe except Antarctica. Reaching over