Business context lesson 1 - understanding business structures

   

Types of businesses

  • Public - companies owned by the government/government agencies, EG schools, the NHS
  • Private - companies owned by individuals, they are profit driven and usually have shareholders and investors
  • NGO - non-governmental organisations are non-profit, they usually rely on volunteers for labour, they can either be operational GNOs - focusing on development of public places, or advocacy NGOs - who seek to influence public policy
  • Charity - usually no profit motive, with the motive being to benefit society instead
  • State-owned companies - companies where the government holds significant stake in the company, can be majority or all, so are typically controlled by the government , they often server public interest e.g. cheap products, but can also be profit driven. examples are water companies, transportation etc
  • Sole trader - are owned by a single person, that person has total control over the business, and they are liable for any debt the company has
  • Limited ltd - similar to a sole trader, but the person sells shared to known people, and they can influence the company, the company is liable for debt, not the person
  • PLC - public limited companies are larger companies, whose stocks are sold on the stock market, and so they are usually owned by many different people, each person is liable for debts only up to the amount they had invested, in the UK there total share value has to be more than £50000 for a company to become a PLC

Business structures - stakeholders

A stakeholder is someone interested in the business and who can affect or be affected by the businesses operations

Internal stakeholders

  • owners - control the companies operations, can make choices
  • board of directors - people who are chosen to represent shareholders' interests they can make decisions about employment, dividends, and pay-outs
  • employees - someone with an employment contract, employees have workers rights, these include things such as sick pay, maternity/paternity leave, protection against unfair dismissal etc

  • departments - these are part of a larger business, that do something specific, eg sales, accounting, HR
  • External - an external stakeholder does not have a direct relationship with the company, but is affected by it, eg, someone who will have to live in polluted areas due to carbon emissions
  • customers, consumers, clients, competitors, outsourced services/suppliers, shareholders, investors, funders, government are also examples of external stakeholders holders


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