PowerPoint 1 - Types of Sectors and Businesses Flashcards
Types of Business Organisations
What types of Business Organisations are there?
Public (e.g. NHS)
Private (e.g. Flower Shop)
Not-for-Profit/Voluntary(also knows as the ‘Third Sector’). (E.g. Foodbank)
What is the purpose of public sector organisations?
To administer and provide welfare for the nation and its people.
What are the two major administrative levels of public sector organisations?
National government and Local authorities.
What is the role of national government in the public sector?
It is responsible for how the country is run. To formulate policy, create economic stability, provide public services, manage defense, and maintain social order.
What are local authorities responsible for in the public sector?
Local services and infrastructure, including health and social care, education, and planning decisions.
What is the primary purpose of private sector organisations?
Businesses range in size and structure, owner and controlled by an individual or groups to generate profit from their activities.
What are the different sizes of private sector organisations?
Micro Businesses(1-9 employees), Small Businesses (10-49 employees), Medium Businesses (50-249 employees) and Large Businesses (250+ employees (no limit)).
What are the four main types of business structures in the private sector?
Sole trader, Partnership, Cooperative, Limited company.
What is a freelance worker?
A type of sole trader who is self-employed and carries out contract work for other businesses.
What is a franchise?
An arrangement where the owner licenses its operations, products, branding, and knowledge to others for a fee.
What are the three main types of not-for-profit/voluntary organisations?
Registered charities, Voluntary or community groups, Non-governmental organisations (NGOs).
What are NGOs?
Organisations with social or political aims, independent from government, operating on a not-for-profit basis.
What are some examples of not-for-profit organisations?
Charities (e.g., The Woodland Trust, WWF), Voluntary groups (e.g., The Kittiwake Trust), NGOs (e.g., Friends of the Earth, Amnesty International).
What are social enterprise organisations?
Organisations started with a community or cause in mind, which can be not-for-profit or profit-oriented with profit-sharing values.
