Ib Business and Management 1.2 Study Notes

Unit
  1.2
  :
  Types
  of
  Organization
 
Private Sector Public Sector
- Comprises
  privately
  owned
  businesses
- Run
  and
  owned
  by
  private
  individuals
  and
  businesses - Private
  and
  public
  companies
Three
  main
  types
  of
  private
  sector
1. Sole
  traders
2. Partnerships
3. Companies
- Comprises
  organizations
  which
  are
  administered
  by
  the
  government
 
- Owned
  and
  controlled
  by
  the
  government
 
- Post
  offices,
  public
  hospitals,
  public
  schools