1.1 Types of organisations and the environment in which they operate in Flashcards
Define a business
Type of organisation that operates commercial industrial or professional activities. They are a group of people who form for a purpose and do activities relating to this purpose
Identify the types of sectors
Public
Private
Voluntary/Third
What are the areas of a private business
generating profits
growth
to survive
Areas of a public business
provide goods and services
achieve environmental goals
overcome market failure
Areas of voluntary/third
provide neglected goods and services
address an issue
meet a need in society
Define Private, Public and Voluntary
Private-Owned by individuals groups of individual’s with the aim of making profit
Public-Owned by the government for the benefit of the public
Voluntary- Managed by individual or government with aim of providing a service for free on a voluntary basis
What are the features and a explanation of the private sector
Explanation-Owned by individuals or groups of individuals with the goal of making a profit which is distributed to shareholders and owners
Types-.Sole traders, partnerships, private limited companies
Examples-Accountants, Retail, Electricians
Features of Public Sector
Owned and funded by the government
These are businesses that provide a service to the national population or local communities on not for profit basis. E.G HEALTH DRS , nurses, : EDUCATION teachers, teaching assistants : SOCIAL CARE carers, SOCIAL WORKERS AND PROBATION OFFICERS.
NHS, BBC, BANKS RAF , ROYAL NAVY
Features of the voluntary sector
Not for profit that provide a public service or hep people. They make profit for operations however extra is reinvested
This includes: CHARITIES , or enterprises whose main aims are to help society , CO-OPERATIVES: which exist for mutual benefit of their members
CHARITY: Oxfam, cancer research British heart foundation
