Management Module

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aCHAPTER 1 BUSINESS ORGANISATIONS
At the end of this Module the student shall be able to: Understand the various types of business organisations that can be established. Appreciate the advantages and disadvantages of each type of business Introduction A business activity is any legal activity that may be owned by one person as a sole proprietor or can be owned jointly by two or more people thereby creating a partnership. The main aim of many business operations is to make a profit either in the short or long term. A business activity is not only trading activities like the popular Kantemba business that have spread along many high ways in cities and towns. A business may be in the form of manufacturing something for sale, buying and selling for profit, providing services etc. Some examples of businesses include banking, insurance, retail trade, producing beer, providing educational services, Shoprite Chain Stores, Game stores, Internet services, tourist lodge or hotel, transport services etc. Element 1.1 Types of Business Enterprises A business may be owned by one person as a sole proprietor or can be owned jointly with another person or partner as a partnership. Another way in which a business could be owned is through the establishment of a limited liability company. A limited liability company can be privately or publicly owned. Another form of business organization could be through a cooperative society. The government may on behalf of the entire citizenry own businesses. i) a) Sole Trader Definition

This is a business owned by only one person who provides all the capital needed to set up and manage the organization and takes profit as his/her reward. The owner uses his/her labour assisted sometimes by one or two workers and/ or family members. This is normally a small business in size though it is not always small. This type of business may involve retail…...

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