Types of Businesses and Management Concepts

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Types of Businesses: Sole Traders

Back

Owned and operated by one person, responsible for all aspects of the business.

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Types of Businesses: Partnership

Back

A business structure involving 2-20 people who run a business together.

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Types of Businesses: Private Limited Companies

Back

A business with 2-50 shareholders, whose stocks cannot be bought or exchanged on the stock market.

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Types of Businesses: Public Listed Companies

Back

A business without a minimum of shareholders, whose shares are freely traded on the stock exchange.

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Types of Businesses: Social Enterprises

Back

Private sector business that distributes profits to benefit the community or social need.

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Types of Businesses: Government Business Enterprises

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A business that is government-owned and operates in the public sector.

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Stakeholder Conflict: Employees & Shareholders

Back

Employees want fair wages, reducing business profit and dividends shareholders receive.

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Stakeholder Conflict: Management & Customers

Back

Management wants to make a larger profit, leading to high prices and upset customers.

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Stakeholder Conflict: Suppliers & Community

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Suppliers may use unethical practices to keep prices down, upsetting community members.

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Management Skills: Communication

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The ability to transfer information from a sender to receiver, and listen to feedback.