Business the AA Name: Jamal Kelly Institution: Redbridge College Business Organization A business is an organization that undertakes the exchange of goods or services for monetary gain. An economic system refers to the manner in which a nation or state is organized in the exchange of goods and services, production and allocation of resources. The economy is made up of three sectors; the private sector, public sector and voluntary sector. The private sector is made up of private enterprises including the personal sector or the households and the corporate sector or private companies. The private sector is not state controlled and is run by companies or individuals for profit. Examples of UK-based private companies include Ineos, Greenergy, European metal recycling, and Arcadia Group. The public sector is the part of the economy that is run by the government. The sector is mainly concerned with the provision of government services and consists of public companies and corporations. The UK public sector consists of the different ministries such as the Education, Housing and Healthcare ministries. The voluntary sector or community sector is made up of nonprofit organizations and charities whose activities are voluntary, social based, non-governmental and nonprofit. Examples of the nonprofit organizations include the Museums Association, Relief International UK and Social Issues Research Centre. Types of business organizations Types of business organizations
A voluntary sector is a setting that one can attend but is funded by a volunteering commite. These can be compulsory or optional
The private sector is comprised of companies run by individuals for a profit; some examples of this are sole traders- exclusive owners of a business, a limited company, a partnership or a public limited company. The public sector is where all of the government run services fall into, like the NHS or policing services. The voluntary sector are non-profit, non-governmental charities that benefit the public, examples of this are charities such as the NSPCC and Age Concern.
Non-statutory services may not be put there by law but they still play a vital role in helping the community and statutory public services. An example is Help for Heroes although they are for ex-service personal they help support the families of the wounded. They provide individual support to soldiers and their families, recovery centres like Headley court (rehabilitation centre) and Fisher house (a home for wounded patients and their families), sports recovery which helps the service personal regain confidence and independence. They may not visibly help the community but they give the opportunity to get people of the public involved and help out
A private sector is usually composed of organisations which are privately owned and not part of a government; whereas a public sector is composed of organisations that are owned by the government and voluntary sectors are composed of individuals of who seek help in charitable activities. Private sectors include corporations such as partnerships and charities, like the voluntary sectors, and the public sectors include corporations such as federal, provincial, state or municipal governments. An example of a private sector is a retail store or credit unions, and example of a public sector is an educational or
A public sector business is a business that usually composed of organisations that are owned and operated by the government (PrivacySense2015).
Businesses and industries that are not owned or controlled by the Government. Private Sector organisations operate privately to make a profit with income generated from the sale of their products or services. Although many private sector firms are owned and controlled by individuals, many are owned by groups of people; for example, companies may be owned by shareholders, who have invested in that company.
IDENTIFY AND REVIEW THE RELEVANT RANGE OF OPERATIONS AND THE SPHERE OF BUSINESS ARRANGEMENTS OF THE ORGANISATION
Public sectors are government controlled services that provide for both basic and essential needs of the general community. The content of government sectors varies between countries, however in most countries these include Police, Health care, Fire brigade, Military, Public transport etc. (PrivacySense.net, 2014).
Public sector refers to the part of the economy concerned with providing essential government services. The public sector includes such services as a police, military public roads, primary education and healthcare for the poor.
Public Sector Organizations: Public Sector Organizations is operated and owned by the Government for the people of the state. Source of funding for this sector usually raised through public taxes, fee and through financial transfer from central government to local government. Example of public sectors organizations are: NHS (National Health Service), DfT (Department for Transport), HM Revenue & Customs (HMRC)
A good example of a localy funded organisation would be Dover 's local tourist information centre, controlled and funded by Dover District Council and council tax revenues. The tourist information centre is there to provide information about the local area such as attractions and events to tourists. This would be of interest to domestic and inbound tourists.
agencies act as an administrator in the TPA model, but they act as a manager in the
[pic][pic]Finally, the beneficiary of the services provided by the public sector, is the general public. These goods and services are sometimes provided free and in other cases consumers have to pay a price. The goal
Sole traders have unlimited liabilities,meaning that in terms of law there is no separation between them,hence the sole trader is also liable for the debts incurred within the business, which makes it very risky to run for a long-term.
What is business? “Business is an organization or enterprising entity engaged in commercial, industrial or professional activities. A business can be a for-profit entity, such as a publicly-traded corporation, or a non-profit organization engaged in business activities, such as an agricultural cooperative”. (Tuller, 2008) I have chosen business organisation which will be a shoe shop called “Clare`s shoes”. It is quite large Italian shop with different kinds of shoes based in Gidea Park. It is a partnership. They have in offer a wide range of shoes from sandals to high heels shoes, trainers and boots from the top brands. Also in shop we can find shoes for women’s, men’s and kids style too. It is one of the best known’s shop in Essex area.