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Business Management > Topic 1.2 Types of Organisations > Flashcards

Topic 1.2 Types of Organisations Flashcards

1
Q

Continuity

A

Continue to operate through change of owners due to being an incorporated business

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2
Q

Bureaucracy

A

Regulations

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3
Q

Charities

A

Non-profit social enterprises that provide voluntary support for good causes

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4
Q

Cooperatives

A

For-profit social enterprises set up, owned and run by their members

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5
Q

Corporations

A

For-profit organisations owned by shareholders

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6
Q

Deed of Partnership

A

Legal contract between partners in a partnership

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7
Q

Flotation

A

When businesses first sell all/part of its business to shareholders

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8
Q

For profit (commercial) organisations

A

Organisations that have making a profit as a goal

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9
Q

For profit social enterprises

A

Profit generating businesses with primarily social objectives

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10
Q

Free market economies

A

Economic system where the market largely determines what goods and services are produced

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11
Q

Incorporation

A

A legal difference between the owners of a company and the business itself

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12
Q

Initial Public Offering

A

The process of a business sells all or part of its business to shareholders on a stock exchange for the first time

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13
Q

Joint-stock companies

A

When stocks of a business are held together by multiple titles (Corporations/Companies)

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14
Q

Limited liability

A

A restriction on the amount of money that owners can lose if their business goes bankrupt

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15
Q

Microfinance Providers

A

Financial service (for-profit social enterprise) aimed at entrepreneurs of small businesses

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16
Q

Non profit social enterprises/organisations (NPOs)

A

Organisations that don’t have profit as their main objective, rather social causes/benefits

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17
Q

Ordinary Partnerships

A

Partnership of 2 - 20 people/partners

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18
Q

Organisation

A

Commercial enterprise

19
Q

Partnerships

A

Type of private sector business owned by 2-20 people

20
Q

Planned economies

A

Economic system directed by government agencies

21
Q

Private limited company

A

Business owned by shareholders with limited liability but whose shares cannot be bought by or sold to the general public

22
Q

Private sector

A

Businesses not associated with the government

23
Q

Private voluntary organisations

A

aka NGO

24
Q

Privatised

A

When a public sector business becomes private

25
Q

Public limited company

A

Incorporated business that allows the public to buy and sell shares in the company via a stock exchange. All shareholders enjoy limited liability

26
Q

Public private partnerships

A

When the government works together with the private sector to jointly provide certain goods or services

27
Q

Public sector

A

Businesses controlled by the government

28
Q

Recession

A

Reduced economic activity

29
Q

Shareholders

A

Individuals or businesses that have invested money to provide capital for a company

30
Q

Silent partners

A

Investors of partnerships eligible for portion of the profit

31
Q

For-profit social enterprises

A

Revenue-generating business with social objectives at the core of their operations

32
Q

Sole traders

A

Self-employed person who runs and controls the business

33
Q

Stock exchange

A

A market place for trading stocks and shares of public limited companies

34
Q

Unincorporated

A

When the owner and business are legally on the same basis

35
Q

Unlimited liability

A

Legally liable for all monies owed to their creditors

36
Q

BOD

A

Board of Directors

37
Q

Consumer Cooperatives

A

Owned by customers who buy the goods and/or services for personal use

38
Q

Worker Cooperatives

A

Owned by employees

39
Q

Producer Cooperatives

A

Cooperatives that join & support each other to process or market their products

40
Q

Non Government Organisations

A

Businesses of the private sector that run for a social cause/benefit

41
Q

Takeover

A

Change of business owners

42
Q

Bankrupt

A

Unable to pay debts

43
Q

Nationalised

A
44
Q

Deregulation

A

Business Management (6 decks)

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