Classification And Strategy Flashcards
Organisation
A group of people working together in some sort of organised set up, working towards common goals
A business
An organisation that has the specific purpose of making a profit from its activities, making money it’s primary aim
Business
The activity or work involved in buying and selling goods and services
Industry
Any general business activity or commercials enterprise that can be isolated from others
Large enterprise
Has dominant market shares and a complex workforce allowing for great influence in their sector
Small and Medium enterprises (SME)
Employing 250 people or less and having a turnover of less than €50 million
Sole trader
A 1 person entity
Partnership
More than one person working together (often family)
Private Limited Company
The people who own the company structure the organisation around shared ownership
Public limited company (PLC)
Shares of the company are sold on a stock market. Dominant shareholders appoint top and senior management exercising control of the direction of the company
Limited liability partnership (LLP)
A partnership where partners can limit their liability to losses. At least one partner accepts unlimited liability
Public service body
An organisation set up by the government to give people the services they needs like health, education, and emergency services
Non-government Organisation (NGO)
A type of not-for-profit organisation, largely funded by the government but operating outside of government control
Quasi autonomous NGO (QuANGO)
Funded and controlled by the government. The apply government policy including museums and the environment agency
Not-for-profit (non-profit)
Any profit made has to stay within the organisation and be repurposed. Used for pay, rent, utility bills, but not bonuses
