types of buisness structures Flashcards
What are the types of business structures?
Small and medium enterprises (SMEs), private including sole traders, private partnerships, limited liability, corporations, not for profit organizations
Not for profit organizations focus on social welfare, such as community interest companies.
What is the primary objective of not for profit organizations?
Social welfare of the society
Examples include community and public organizations.
What are the financial business objectives of private organizations?
Profitability, growth, market leadership
These objectives focus on financial success and market position.
What are the financial objectives of not for profit organizations?
Alleviating poverty, cost control, value for money
These objectives aim at maximizing social impact rather than profit.
What social business objectives do private organizations pursue?
Provision of employment
This includes creating job opportunities in the community.
What social business objectives do not for profit organizations pursue?
Provision of employment, education, health care, housing, services, quality, and meeting government standards
These objectives aim to improve community welfare.
What is the role of innovation and entrepreneurship in business?
Commercial and business development, products and services deployment
This involves creating new ideas and bringing products to market.
What does adding value to buildings and structures involve?
Differentiating the project from competitors
This can include unique features or enhancements to attract clients.
What are the client risks in commercial projects?
Ensure funding, potential profit analysis
These risks relate to financial viability and project returns.
What are the contractor risks at the tender stage?
Need an accurate bill of quantities, safe margins, time scale
These factors impact the feasibility and profitability of a project.
What are some risk management techniques?
Identify the risk, review and monitor risks, mitigation techniques
These techniques help manage potential issues in projects.
What are the different types of land ownership?
Sole properties/owners, government/council notes, concurrent ownerships, shared ownership, tenant in common
Ownership types define the legal rights and responsibilities related to land.
What is concurrent ownership?
Joint tenancy, joint mortgages, right of survivorship
This type of ownership involves multiple parties sharing ownership rights.
Who may require permission for surveys?
Person and organization, local authority, land or building owner, Ministry of Defence, Civil Aviation Authority
Permissions are necessary for legal and regulatory compliance.
What is drone surveying used for?
Difficult access, site security, site inspection, virtual walk around, dangerous conditions, thermal imaging
Drones provide innovative solutions for challenging surveying tasks.
