Types of companies Flashcards
Private Limited Company (Ltd) (UK) / Limited Liability Company (LLC) (US)
business structure where the owners’ financial liability is limited to the amount they invested. It is commonly used for small and medium-sized enterprises
NL: Besloten Vennootschap – BV
Ex: Innocent Drinks Ltd (UK), Airbnb LLC (US)
Public Limited Company (PLC) (UK) / Corporation (Corp./Inc.) (US)
business whose shares can be bought and sold by the public on the stock market
NL: Naamloze Vennootschap – NV
Ex: Tesco PLC (UK), Apple Inc. (US)
Non-Governmental Organization (NGO)
organization that operates independently from the government, usually with a social or charitable purpose rather than profit-making
NL: Niet-gouvernementele organisatie – NGO
Ex: Greenpeace, Doctors Without Borders (Médecins Sans Frontières)
Sole Trader (UK) / Sole Proprietorship (US)
business that is owned and run by a single person, who is personally responsible for all its debts
NL: Eenmanszaak
Ex: A freelance photographer or a local bakery owner
Partnership
business owned by two or more people who share profits and liabilities
NL: Vennootschap onder firma – VOF
Ex: PwC (PricewaterhouseCoopers), a global consultancy firm
State-Owned Enterprise (SOE)
company that is controlled and owned by the government rather than private individuals
NL: Staatsbedrijf
Ex: Nederlandse Spoorwegen (NS) (Netherlands), BBC (UK), Deutsche Bahn (Germany)
Non-Profit Organization (NPO)
business where profits are reinvested into its mission rather than distributed to shareholders
NL: Non-profitorganisatie
Ex: The Red Cross, World Wildlife Fund (WWF)
Cooperative (Co-op)
business owned and operated by its members, who share profits and decision-making responsibilities
NL: Coöperatie
Ex: The Co-operative Group (UK), Rabobank (Netherlands)
Multinational Corporation (MNC)
large business that operates in multiple countries, with production and sales spread across different locations
NL: Multinational
Ex: Unilever, McDonald’s, Samsung
Shell Company / Letterbox Company
business entity that exists only on paper and has no physical operations, often used for tax or financial benefits
NL: Brievenbusmaatschappij/Postbusbedrijf
Ex: Many companies registered in tax havens like the Cayman Islands
Holding Company
company that owns shares in other companies but does not produce goods or services itself. It mainly exists to manage its investments
NL: Holdingmaatschappij
Ex: Berkshire Hathaway owns multiple companies but doesn’t produce goods itself, it has ownership stakes in companies like Coca-Cola, Geico, and Dairy Queen ; Alphabet Inc. is a Holding Company that owns companies such as Google, YouTube, and Waymo
Subsidiary
company that is controlled by another company, usually a parent or holding company, which owns the majority of its shares
NL: Dochteronderneming
Ex: YouTube LLC is a subsidiary of Alphabet Inc. since it is owned and operated under its control
a Franchise model
individual business owners pay to use the brand’s name and business system
Ex: KFC and Subway
Accounts Department
The department responsible for administering a company’s financial affairs
Board of Directors
The group of people chosen to establish policy for, direct or control a company
Chairman/Chairperson (UK) / President (US)
The person who heads a Board of Directors; the head of a company
Director
A member of the group of people chosen to establish policy for, to direct or to control a company
Headquarter(s)
A company’s principal or main office or centre of control
Managing Director (UK) / Chief Executive Officer (US)
The senior director (after the chairman), who is responsible for day-to-day direction
Marketing Department
The department responsible for bringing goods or services to the market, including: packaging, advertising,..
Organisation Chart
A table or plan showing a company’s structure graphically
Personnel Department / Human Resources
The department responsible for recruitment and welfare of staff or employees
Production Department
The department responsible for the physical creation of products
Purchasing Department
The department responsible for finding and buying everything needed by a company
R&D Department (Research & Development)
The department responsible for finding out about and creating (new) products
Sales Department
The department responsible for finding customers and getting them to buy
Shareholder
A person who owns stock or shares of a company
Manager (UK) / Executive Officer (US)
Any of several executive officers, each responsible for a separate division
Annual General Meeting (AGM)
Gathering of the directors and shareholders of every incorporated firm, held each calendar year
Chief Financial Officer (CFO)
Executive responsible for financial control and planning of a firm or project
Managing Director (UK) / CEO (Chief executive officer) (US)
the person in charge of daily management
Managers (UK) / Executive officers (US)
Members of the executive committee
