Category: Business Studies
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Public Sector Organisations
Organizations in the public sector Public corporation Local government authorities Aims of organisations in the public sector Public corporation Profit is not the main aim Provide jobs Provide goods and services at a low price Provide services which would not be provided by private sector Street lighting, railway and defense.
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Private Sector Organisations
Organizations in the private sector Sole trader Partnerships Private limited company Public limited company Co-operatives Aims of organisations in the private sector Sole traders Make profit or survive in recession Make all decisions Partnerships To make profit Get more money and ideas Private limited companies Limited liability and make profit Public limited companies Raise…
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2 Sectors in Business
2 sectors in business Private sector Public sector
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Stakeholders in Business
Stakeholders in business Consumers Employees Managers Owners Financiers Shareholders Consumers Role They buy the goods and services provided by business Provide revenue to the business Objectives Get good quality products at good prices Appropriate customer care Employees Role Produce or provide goods and services for remuneration Objectives Get salary on time Job security…
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Different Objectives
Understanding different objectives Growth Profitability Market share Growth Growth is often associated with the sales or the number of employees New businesses do not aim for growth initially Profitability Profit is the difference between total costs and total revenues Almost all businesses aim for maximum profit Businesses need profit to pay the costs…
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Why are objectives important?
Need and importance of objectives in business Give direction and meaning to the business Measure the success of business Motivate the workforce To formulate strategies in order achieve aims
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Feature of Capitalist economy
Key features of own economy Key points to be mentioned: Pollution and global warming Sustainable development Impact on business upon depletion of natural resources Structure and importance of different sectors Illustrate the changes
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Growth Problems
Problems connected with growth Administrative problems More capital needed Loss of control Slow decision making
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Why business wants to grow?
Why businesses want to grow Growth Higher profits Economies of scale Respect in the business community Fulfill shareholders desires
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Different ways to grow Business
Different ways by which business can grow Internal growth Growth achieved by retained profits External growth Mergers Horizontal merger Vertical merger Conglomerate merger