U226 BA
- Created by: SophieJ979
- Created on: 15-10-18 11:26
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- Unit 226 Understanding Employer Organisations
- Organisations
- Private Sector
- Exist to make a profit
- Get profits from sales and from shareholders' investments
- Profits are paid to shareholders and what's left is invested into the business
- Examples include M&S, British Airways
- Types include sole traders, partnerships, corporations, co-operatives and franchises
- Sole traders
- Business is owned by 1 person
- Partnerships
- 2 or more own the business and share the risks and profits
- Corporations
- public or private limited companies; organisations set up in order to run a business
- Co-operatives
- Owned by members - employees or customers. Profits are distributed to them
- Franchises
- When firms who already have a successful business enter into relationship with other business
- Sole traders
- Private Sector
- Organisations
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