Grade 7 Combined Business: Unit 4. Business Organisations

Expand all sectionsCollapse all sections

Section 4.1: Types of Business Organisations
Businesses are categorized by sector and objective. The private sector includes for-profit entities like sole proprietorships, while the public sector provides essential services like healthcare. Non-profit organisations focus on societal benefits rather than profit, serving their members' collective interests.
2
- 1.1
  Lesson 4.1.1: Private vs. Public Sector Aims
- 1.2
  Quiz 1
  0 Questions
Section 4.2: Companies
Companies are separate legal entities. Sole proprietorships have single owners, while partnerships involve shared profit and risk. Limited liability companies protect owners’ personal assets and are established through formal registration, requiring articles and memorandums of association for legal recognition.
4
Section 4.3 to 4.6: Specialised Business Structures and Policy
Specialized structures include franchises, which use established brands, and joint ventures for mutual gain. Multinational companies operate globally but maintain home-country management. Additionally, the government may engage in nationalisation to secure services or privatisation to transfer assets to individuals.
6