Unit 1.2 - Types of Business Entities
What you need to know and understand:
- Distinction between the private and the public sectors
- The main features of the following types of organizations.
- Sole traders
- Partnerships
- Privately held companies
- Publicly held companies
- Sole traders
- The main features of the following types of for-profit social enterprises.
- Private sector companies
- Public sector companies
- Cooperatives
- Private sector companies
- The main features of the following type of non-profit social enterprise.
- Non-governmental organizations (NGOs)
- Non-governmental organizations (NGOs)
Conceptual Understandings:
- Change is essential for businesses to achieve their desired aims
- Creative business planning can lead to organizational success
- Ethical business behavior improves a business’ image as well as customer loyalty
- Sustainable business practices can enhance a business’ existence
Questions to consider:
- Most businesses desire to expand. What motivates the growth of a social organization like business?
TEXTBOOK unit 1.2
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