business sectors

Question 1

What is the definition of an organisation?

Answer 1

An organisation is a group of people who come together for a common purpose.

Question 2

public sector?

Answer 2

•owned and controlled by national governments or local authorities
•run for the benefit of the whole nation or the local area
•eg.nhs/education

Question 3

private sector?

Answer 3

•owned and controlled by an individual or groups,
•run from profit-making activities.
•eg.tesco

Question 4

third sector?

Answer 4

•NOT-FOR-PROFIT, VOLUNTARY and philanthropic style business activities.
•Voluntary or community groups,Registered charities,Non-government organisations
•eg.British heart foundation

Question 5

reason for private sector business

Answer 5

financial freedom
make a difference
personal satisfaction

Question 6

third sector values

Answer 6

improve life’s
deliver essential services
role in local communities