Classification of businesses 2
- Created by: Ali Bland
- Created on: 05-03-15 18:37
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- Classification of businesses 2
- Why might business objectives change?
- The ownership of firm changes
- Success is achieved
- The economy may enter a recession
- Main business objectives
- Public sector
- Affordability
- Access
- Quality
- Equality
- Private sector
- Growth
- Profit
- Survival
- Public sector
- What are aims?
- Long term intentions of a business
- Often in the form of a Mission Statement
- Different types of economy
- Planned economy
- Everything is privately owned and number and type of business is decided by government
- Market economy
- Everythingis privately owned and number and type of business is decided by market
- Mixed economy
- Governemt provide public and merit goods
- Planned economy
- Public sector
- Central government owned - NSH
- Local governemtowned - refuse collection
- Private sector
- Sole trader
- Business owned by one individual
- Private limited company
- Business owned by between 1 and 50 shareholders
- Public limited company
- Business owned by 2 or more shareholders who must invest at least £50000 into the business
- Partnership
- Business owned by two or more individuals
- Sole trader
- Why might business objectives change?
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