P1describe the type of business, purpose, and ownership of two contrasting organisations
P1
The two contrasting businesses that I chose are ‘Apple’ and ‘Action for Children’
Activities Apple Inc. Action for Children
Can sell shares x
Tax reductions x
Limited liability x
For profit x
Fund by UK Tax system x
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players, and sells a variety of related software etc. the products include; iPhone, mac, iPod, Apple TV etc. the company sells its products worldwide through its retail stores, online store etc. Apple Inc. is a publicly traded company; it can sell its shares to the public and has limited liability which means that the owners are personally responsible for the debts of the business. The most the shareholders can lose is the money that they have invested in the company. Apple doesn’t get tax reductions because it doesn’t have a not-for-profit structure. Apple is a ‘for profit’ company; they sell things to get money out of it for themselves. As a manufacturer it operates in the Secondary sector.
Action for Children is a trust that is always there for the most vulnerable children and young people, helping them break through injustice deprivation and inequality, so they can achieve their full potential. Their values are passion, equality and hope. Action for children is a charitable company limited by guarantee and is governed by Articles of Association dated 26 January 2011. Around 87% of their income comes from local authority central government and NHS funding, the rest through fundraising and donations. Action for children doesn’t have any shares to sell as it is a charity. It’s a not for profit organisation all the money received goes back into the trust. Like most charities they have tax reductions because of their non-for-profit structure. As a charity it operates in the Tertiary sector.
The two contrasting businesses that I chose are ‘Apple’ and ‘Action for Children’
Activities Apple Inc. Action for Children
Can sell shares x
Tax reductions x
Limited liability x
For profit x
Fund by UK Tax system x
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players, and sells a variety of related software etc. the products include; iPhone, mac, iPod, Apple TV etc. the company sells its products worldwide through its retail stores, online store etc. Apple Inc. is a publicly traded company; it can sell its shares to the public and has limited liability which means that the owners are personally responsible for the debts of the business. The most the shareholders can lose is the money that they have invested in the company. Apple doesn’t get tax reductions because it doesn’t have a not-for-profit structure. Apple is a ‘for profit’ company; they sell things to get money out of it for themselves. As a manufacturer it operates in the Secondary sector.
Action for Children is a trust that is always there for the most vulnerable children and young people, helping them break through injustice deprivation and inequality, so they can achieve their full potential. Their values are passion, equality and hope. Action for children is a charitable company limited by guarantee and is governed by Articles of Association dated 26 January 2011. Around 87% of their income comes from local authority central government and NHS funding, the rest through fundraising and donations. Action for children doesn’t have any shares to sell as it is a charity. It’s a not for profit organisation all the money received goes back into the trust. Like most charities they have tax reductions because of their non-for-profit structure. As a charity it operates in the Tertiary sector.