orgman(W3-4) Flashcards
life blood of business
customers
resources to business like raw materials
suppliers
an individual to perform work in exchange for payment
employees
consist of the factors that directly impact the operations of co mpany
micro environment
rivals of business can directly affect business strategies
competitors
are those who invest their money in a company
share holders
promotional activities of its product and services
media channel
it has external factors that an organization cannot control
macro environment
affects a business in terms of taxation, goverment spending, general demand, interest rate, and global economic factors
economic
6 macro external business environment
-political, econmic, social, technological, environmental, legal.
how changes in goverment policy might affect the business e.g a decision to subsidies building new houses in an area could be good for a local bricks works
political
households and communities behave and their beliefs
social
how the rapid pace of change in production processes and product innovation affect a business
technological
the way in which legislation in society .E.g changes in employment laws on working hours
legal
growing awareness of the potential impacts of climate change is affecting how companies operate and the products they offer, both creating new markets and diminishing or destroying existing ones
environmental
swot
strengths, weaknesses, opportunities, threats
Business owned by two or
more persons
Partnership
business owned by only 1 person
Sole Proprietorship
- Unlimited liability
Sole Proprietorship
Is a partnership with only general partners. Each general partner takes
part in the management and also takes responsibility for the liabilities of
the business.
GENERAL PARTNERSHIP
Is a partnership that includes both general and limited partners.
LIMITED PARTNERSHIP
- Unlimited liability for the general partners
Partnership
Has a minimum of five and a maximum of fifteen owners
Corporation
2 TYPES OF CORPORATIONS
STOCK CORPORATION, NON STOCK CORPORATION
Double taxation
Corporation
Business organization owned by a group of individuals and is operated for their mutual benefit
Cooperative
metrobank
corporation
sm
corporation
pelco
cooperative
live selling
sole proprietorship
provides labor
Service Business
Type of business that purchases products from other businesses
Merchandising Business
Type of business where raw materials are transformed into finished goods
Manufacturing Business
Agriculture, Aquaculture, Mining Companies
Unclassified Business
Companies that may be classified in more than one type of business.
Hybrid Bussiness
Ensure that the present needs of a particular generation are met
Sustainable Economic Development
Total process which includes not only economic growth or the increase in the given amount of goods and services produced by the country’s economy but also considers the social, political, cultural, and spiritual aspects of the country’s growth.
Economic Development
Growth that is rapid enough to matter, given the country’s large populations, geographical differences and social complexity.
Inclusive Growth
3 sustainable economic development and economic development
Sustainable Economic Development, Economic Development, Inclusive Growth
- flexibility of operations
Sole Proprietorship
charitable, educatinal, social ang cultural
NON STOCK CORPORATION
has capital stpck divided into shares and dividends
STOCK CORPORATION
