Loading presentation...

Present Remotely

Send the link below via email or IM


Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.


Copy of Business Structures - Chapter 6

Understand how ownership differs among sole proprietorships, partnerships, and corporations.

Linda MacKenzie

on 28 April 2010

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Copy of Business Structures - Chapter 6

Business STructures 3 Sole Proprietorship Partnership Corporation The size and nature of the business Key factors in choosing the best type of ownership
Owned by 1 person
Small firms
Completely responsible for all decisions
Owner keeps all of the profits Owned by small group
written Agreement
Share profits or losses
Unlimited liablilty for Debts of their business Owned by number of people with Certificate of Incorporation
Acts as single individual or person on behalf of its owners
Buying shares of stocks makes a person a Shareholder Getting Started Why do you think Sold Propritorships make up 2/3 of businesses? Managing a Successful Business Planning Organizing Staffing Leading Controlling Managers are employees who are responsible for corrdinating Resources:
Natural Goals set for business Determining work:
What All aspect:
Effective Leaders inspire workers to willing perform their jobs and accept their share of repsonsiblity for accomplishing the goals of the business Good Leadership requires good human relations and communications skills Compairing what actually happens with what was planned Using standards set up in the planning stages Exapanding a Busines Partnership Articles of Partnership:
Profit/loss sharing
division of responsiblities
Business future with loss of partner Corporation Not personally responsible for debts
Failure of business mean each person is only out what they put in The amount invested divided into shares
Who can purchase shares? Specialized forms of Business Franchises Franchise: Written contract granting permission to sell someone else's product or service in a prescribed manner Franchisee: Person/group who have recieved persmission from parent company to sell its products or services Franchisor: Parent company that grants permission to a person/group to sell its products or services Cooperatives People get together to operate a business, owned by members it serves It formation must be approved by the state
It may sell 1 or more shares of stock to each member
differs from corporation on the way it is controlled
2 ways:
each owner-member may have 1 vote
each member's vote may be based on the amount of service he/she has bought from cooperative
Most profits are refunded directly to members at the end of the business year (some kept for business expansion) Non-Profit "Centerville - Incorporated" The provide service/product but not for earning a profit:
Boy Scounts of America/Girl Scounts
Future Business Leaders of America The corporate form of organization provides the most effective way to deliver services Disadvanatges
Unlimited liability
Workload falls on one person
Full transcript