Introduction to Business (Question for 1st semester midterm exam.) # What is business? Ans : An organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. Businesses can be privately owned‚ not-for-profit or state-owned. An example of a corporate business is Grameen Phone‚ while an Azad Products is a private
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considering setting up an organisation there are a number of factors that should be considered. Depending on these factors will determine how your business will be set up‚ the three main types of business being Sole Traders‚ Partnerships and Limited Companies. Sole Proprietors - This business is wholly owned by one person only and will usually be financed personally by the owner. As the business grows‚ the owner can employ personnel for different functions. Advantages Easy start
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TESCO 5 3.2 YO SUSHI 6 Small brief about yo sushi 6 3.3 UICEF 7 Unicef is a charity‚ work to protect child rights‚ UNICEF UK established in 1956 and is one of 36 UNICEF National Committees based in industrialized countries. It is a charitable company limited by guarantee and is governed by a Board of Trustees. The Board meets regularly to discuss governance matters‚ including the charity’s vision‚ mission and strategic direction. 7 3.4 The Comparison Table 8 4 Report Brief: 9 5 Forms Of Ownerships:
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to large multinational organisations and although they share the common goal of generating profit‚ their purposes and objectives differ. Organisations take on a number of different and can be placed in to three main categories – private sector‚ public sector‚ and voluntary sector. Private sector organisations are established primarily to make money. The smallest organisation in the private sector is the sole trader. Sole traders are business run by an individual. Business and personal assets
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dentists‚ doctors‚ solicitors and so on. 3. Company – the correct name for this is a joint stock company and it’s made up of a number of people who put their money together to form a ‘joint stock’ of capital. These people are more commonly known as shareholders and‚ as the name suggests‚ they each own a share of the business and each expect a share of the profits too. Each shareholder puts money into the company and receives a portion of the company – shares – equivalent to what they put in.
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as the public sector‚ private sector and the geographical importance to the international and UK economy. The travel and tourism industry has many organisations such as travel agents‚ tour operators‚ tourist boards and many more. A public sector is an organisation or a company that was set up to provide a service to the public. An example of this is the National Trust. The National Trust is an organisation‚ a charity that is independent to the government; it is a public limited company. They get
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the owners‚ senior executives‚ locations‚ subsidiaries‚ markets‚ products‚ and company history. ❖ The report explains the company’s memorandum and its various features. ❖ This report also gives an overview of its business and current position in the market. 2. Company Profile 2.1. History: Beximco Pharmaceuticals Ltd. is a leading edge pharmaceutical company. It is situated in Dhaka‚ Bangladesh. It is acclaimed for its outstanding product
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BUSINESS Literally‚ the word “business” means the state of being busy. Generally‚ the term business includes all human activities concerned with earning money. In other words‚ business is an activity in which various persons regularly produce or exchange goods and services for mutual gain or profit. The goods and services produced or purchased for personal use are not included in “business”. Business is an economic activity‚ which is related with continuous and regular production and distribution
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Phoenix collegiate 12H Unit 1 The Business Environment Contents Task 1 Two Businesses on our door step * Types of businesses‚ purpose and ownerships of two contrasting businesses * Different stakeholders who influence the purpose of two contrasting businesses * How are two contrasting business are organised? * How the styles of organisation help them to fulfil their purposes? * Points of view of different stakeholders seeking to influence the aims and objective of two
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of business E.g. -Motorola‚ King Sturge consultancy‚ law firms etc. Private limited company is a business owned by shareholders‚ run by directors and liability is limited. Advantages-limited liability that means that the personal assets of shareholders will not be at risk of being detained by creditors - Business will not be affected by the status of the owner - Minimum number of shareholders to start the company needed is two. - More money can be raised as you can have a maximum of shareholders
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