ownerships and objectives Flashcards
What is a sole trader’s mission?
Survive and make a small profit.
What are sole trader’s objectives?
Have a good reputation and personal goals for the owner.
Who makes a sole trader’s decisions?
The owner.
How does a sole trader measure performance?
Profit and how they compete against other competitors.
What is an LTD’s mission?
Maintain a reputation.
What are an LTD’s objectives?
Increase profits and sales.
Who makes the decisions in an LTD?
Board of Directors who are often shareholders, up to 50.
How does an LTD measure performance?
Sales, profit, personal needs.
What is a PLC’s mission?
Grow and keep shareholders happy.
What are a PLCs objectives?
Increase profits, market share -> market capitalisation.
Who makes the decisions in a PLC?
Board of Directors who are separate to shareholders.
How does a PLC measure performance?
Share price, sales , profit, customer satisfaction.
What is a Not-for-profit’s mission?
Looking after a community.
What are a Not-for-profit’s objectives?
Goals that directly link to stakeholders and community.
Who makes the decisions in a Not-for-profit?
Members and Stakeholders.
