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    Glossary - Types of Business Organisations

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    anandita
    Charities are altruistic organizations that operate in the private sector to promote social causes. Companies, also known as corporations, are for-profit businesses owned by shareholders who have limited liability. Cooperatives are for-profit social enterprises owned and run by member-owners like employees or customers to benefit members.

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    Glossary - Types of Business Organisations

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    anandita
    34 views2 pages
    Charities are altruistic organizations that operate in the private sector to promote social causes. Companies, also known as corporations, are for-profit businesses owned by shareholders who have limited liability. Cooperatives are for-profit social enterprises owned and run by member-owners like employees or customers to benefit members.

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    Glossary – Types of Business Organisations

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    Charities are altruistic organizations that operate in the private sector to promote social causes. Companies, also known as corporations, are for-profit businesses owned by shareholders who have limited liability. Cooperatives are for-profit social enterprises owned and run by member-owners like employees or customers to benefit members.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    34 views2 pages

    Glossary - Types of Business Organisations

    Uploaded by

    anandita
    Charities are altruistic organizations that operate in the private sector to promote social causes. Companies, also known as corporations, are for-profit businesses owned by shareholders who have limited liability. Cooperatives are for-profit social enterprises owned and run by member-owners like employees or customers to benefit members.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Glossary – Types of Business Organisations

    These are altruistic organizations that operate predominantly in


    Charities the private sector with the goal of promoting a worthwhile social
    cause.

    Companies This refers to any business organisation that is owned by its


    (corporations) shareholders, who have limited liability.

    These are for-profit social enterprises owned and run by their


    Cooperatives members (usually employees, managers or customers). Their
    primary goal is to create value for their member-owners.

    A legally binding contract that all joint owners of a partnership


    Deed of Partnership sign, stating the purpose of the business, the formal rights of
    the partners, and how any profits should be split.

    This legal status of a business enables its shareholders


    Limited liability (business owners) not to be liable for more than the original
    amount of money invested in the business.

    This is a special type of partnership where some partners


    contribute capital and enjoy a share of the profits but do not
    Limited partnership
    participate in the running of the business. At least one
    partner must still have unlimited liability.

    Financial organizations that advance very small amounts of


    Microfinance providers money to entrepreneurs of small businesses, especially females
    and those on low incomes.

    A type of non-profit organization (NPO) operating in the private


    Non-governmental
    sector of the economy for the benefit of others in society (rather
    organizations (NGOs)
    than for shareholders).

    A business alliance consisting of between 2 and 20 individual


    Partnership owners who are jointly responsible for the business (although
    this number can vary between countries).

    This section of the economy is made up of businesses that are


    Private sector owned by individuals or groups of individuals, rather than by the
    government.

    A joint-stock company owned by shareholders. The shares in a


    Public limited company
    PLC can be bought and sold by the general public, without prior
    (PLC)
    approval of existing owners.
    These are organizations jointly stablished by the government
    Public-private
    and a private sector business(es) in order to provide certain
    partnerships
    goods or services.

    Businesses in this section of the economy are run and owned


    Public sector by the government in order to provide essential services for
    society as a whole, e.g. education and healthcare services.

    This is an investor in a partnership but who does not get


    Sleeping partner involved in the daily running and management of the
    organization.

    These organizations are revenue-generating businesses with


    community (social) objectives at the core of their operations in
    Social enterprises
    order to benefit the general public, rather than private
    shareholders.

    Sole trader (sole An organization which is owned by a single entrepreneur who


    proprietor) has exclusive responsibility for the running of the business.

    This is any marketplace where the general public and other


    Stock exchange
    companies can buy and/or sell shares.

    This means the owner(s) of a business (such as a sole trader or


    Unlimited liability partner) is personally liable for any business debts, even if this
    requires the debts to be settled by selling off personal assets.

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