_____________________________________________________________________ Private companies are auctioned off at the beginning of the game and are owned outright by the winner of these auctions. Private companies provide income for the owner. This will be individual players at the start of the game‚ but might be public corporations later if they have acquired private companies through the course of the game by purchasing them from individual owners. Private companies do not run trains‚ and do not have routes‚ but often have
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Merit 1 – Compare and Contrast two businesses For this assignment I am going to compare and contrast two selected businesses. I will concentrate on their ownership and their aims and objectives. My first business is Tesco the biggest retail company in Britain. My second business is McDonald’s one of the largest franchise fast food outlets in the world. The aim of McDonald’s is to serve good food in a friendly and fun environment and to provide good returns to their share holders. So the purpose
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sector business is a business that is supervised by trustees and their goal is to provide a service to a wider community in need. The primary sector stage focuses on getting the raw materials of a product. For example‚ miners will mine for different types of metals. When miners collect enough of a metal they can be sold to buyers. The secondary sector stage is when the raw materials are made into products that consumers will want to buy. For example‚ car manufacturers may now use the metal they bought
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Public Offering (IPO) The first time a corporation sells its shares to members of the public. Private Placement A nonpublic offering in which a business sells securities to a few chosen and qualified investors to raise capital. Sole Proprietor A type of business where there is no legal distinction between the business and its owner. Unlimited Liability An undesirable situation where if the debts of the business exceed its ability to pay‚ creditors may reach the personal assets of the business
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BUSINESS OWNERSHIP Compare forms of business ownership. Three basic forms of business ownership Sole proprietorship Partnership Corporation Sole proprietorship A business owned and operated by one
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forms predominating. This is shown by the short description‚ which has been added‚ of three other forms of business organization not often used but of interest‚ as showing how difficult it is to get away from the basic types. These are the limited partnership‚ the joint-stock company‚ and the association under deed of trust. The first two of these basic forms - sole proprietorship and partnership - represent the personal relationship of a man or a group of men to the business; but the third form
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Chapter 1 Discussion Questions 1. What advantages does a sole proprietorship offer? What is a major drawback of this type of organization? A major drawback is that there is unlimited liability to the owner. The advantage is simplicity of decision making and low organizational and operating costs. 2. What form of partnership allows some of the investors to limit their liability? Explain briefly. It allows some of the partners to limit their liability. With this arrangement‚ the partners
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1. What advantages does a sole proprietorship offer? What is a major drawback of this type of organization? A major drawback is that there is unlimited liability to the owner. The advantage is simplicity of decision making and low organizational and operating costs. 2. What form of partnership allows some of the investors to limit their liability? Explain briefly. It allows some of the partners to limit their liability. With this arrangement‚ the partners are designated general partners and
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4 Popular types of Technology/facilities Internet Internet act as a mechanism for transforming the companies‚ and changing the way they conduct business. Business able to store‚ retrieve‚ create and display information through the Internet. Companies can use the resources at any time and location. Companies also can obtain feedback and improve the business operations. E-mail Electronic mail is free and able to send and receive by recipients almost quickly. E-mail help companies to market and
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General partners are those who are responsible for the day-to-day management of activities‚ whose individual acts are binding on all the partners‚ and who are personally responsible for the partnership’s total liabilities. Limited partners are those who contribute only money and are not involved in management decisions and whose liability is limited to the amount of their investment. Joint Venture Joint Venture acts like a general partnership‚ but is clearly for a limited period or a single project
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