tralala i want a stuffed kendall roy toy Flashcards
private sector
a business owned by private individuals and organisations not a government entity it strikes not to be under direct state control
public sector
consists of those organisations combined by the government
two types of business entities
private sector, public sector
sole trader//sole proprietor (+ some advantages and disadvantages)
a business owned by a silly single person they can hire whoever they want and just do hatevrr thry want
advantages:
-cheap to start.
-you’re in full control
-safe fast exit
-no extra taxes
disadvantages:
-you are in full control of everything (unlimited liability)
-its harder to get money from the bank as you dont seem trustworthy
-has an expiration date
partnership (+and)
a for profit business owned by at least two people, under various state laws, “people” can include individuals, groups of individuals, companies, and corporations
advantages:
-no extra credit
-you have at least double the expertise;)
-easy to start
-more trustworthy than a sole trader
disadvantages:
-limited liability
-you might end up getting mark zuckenberged social network typa situation
-there is an expiration date
-conflicts
corporation (+and)
a form of business recognised by law as a separate entity can own land open busines contracts sue and be sued
advantages:
-individuals cannot be taken account for the companies general misdemeanours
-easy to rise capita
-attractive to skilled labour (bruh that sounds wrong…)
disadvantages:
-expensive
-complicated
-a start of one requires an insane amount of devotion and time and money
-taxes
-an extensive set of rules you must follow
-the control from the government is more servile
social enterprise (simply)
a company, which main’s goals are social issues
traditional charity —>social enterprise<—traditional business
social enterprise (this time more complex)
> driven by a strong social//environmental mission
invests their profit (half of it) for the cause they are fightimg for
should earn 50% of their income
they must be really clear about where their income goes they have to be transarent on how the profit is being distributed
independent (autonomous to the government)
public private partnership
when they kinda do it togeter in a way that well the government founds it and the private owners to the expertise bit
cooperatives
a company owned by its members//employees
inputs in business
land labour capital enterprise
outputs in business
good, service, combination of goods and service, by-products
land
natural resources water gld oil
labour
the quality and quantity affects the value of labour so its the number of people and their skills attitudes etc
capital
non natural resources used in production by a business like equipment tools etc
enterprise
set of skills that develops new ways of doing things or new things to do the ability to be creative and innovative to come up with new ideas to combine resources in different ways
good
a tangible physical item like car latop
service
intangible output like somethung not physical no kuewa service a duckimg haircut albo education czy cos
combination of servive and a good
a meal at the restaurant (something physical but nice tasty experiance)
by products
inputs to other companies
adding value
occurs in transformation process where outputs that are produced are worth more than the inputs used to provide
sources of added value
quality, design, usp, speed, branding, conveniance
redicing costs of the production
cutting bank on waste ensuring the best price for the supplies
brand
a name a design a logo a symbol anytjimg that makes a product recognisable and distinguishes it from the competition so like the polo little logo of well polo
usp
unique selling proposition
a future of a product that makes it different from its competitors in the eyes of thr customers
zeus work culture
a culture that revolves around one big person in charge so its called the leader culture the leader is dynamic and 100% in charge
its also called club culture
athena work culture
in other words called task culture it revolves around tasks that people are assigned to do spesicic tasks as soon and as efficiently as possible and later move on to a new one peoplex exertise and interests are crucial and valued it helps people thrive
apollo work culture
in other words called the role culture embraces order and rules staff are defined by their work performance, expertise… rather than their personalities and theyre treated as tools for the company
dionysus work culture
also known as existential culture the employees are considered the most important assets of the company and the company exists for the purpose of helping them thrive and shine lawyers and it ppl the peoples talents expertise etc etc are what is fuelling everything
culture clash
occurs when there is conflict between two or more cultures within an organisation
when can a culture clash arise
mergers, acquisitions when two firms from different regional cultures
ahwn you go to work abroad esp to be a boss
consequences of culture clashes
-reduced staff morale and self esteem
-lower level of motivation
-lower labour productivity
-more conflicts
-lower profitability
merger
when business 2 organisations become 1
how to avoid culture clash
1.emphasise your cultural values
2.turn the b;lame game into the praise game
3.stop the brain drain (make sure to listen to concerns and do something about them)
4.find your biggest influences (find the most influencial motivtaing important emploees and managers and emphaseize on them)
5.communication across groups and division
culture gap
a difference between an organisations desired culture and actual culture
lack of clarity for workers, negativity, conflict, low productivity
a privately held company (+and)
a company whos shares right and obligations and all are not publically traded on stock exchange and doesnt receive investments or capital from the public
advantages: control, finance can be raised (in comparison to sole traders) privacy, liability, continuity
disadvantages: possibility to buy and sell shares, operating costs
publicly held companies
limited liability companies owned by shareholders with the shares in the business being traded on a public stock exchange
no max list of shareholders
google toyota facebvook apple
advantages: raising founds, transparency, exit strategy
disadvantages: loss of control, higher legal responsibility
features of cooperatives
limited liability (depending on how much theyve invested), democratic structure (everyone makes important decisions), all members of a cooperative are expected to run it, limited liability organisation (separate legal entity than its shareholders) , providance of servive for the members
