1.2 Types of Organization
Keep a Personal Checklist:
Distinguish between the private sector and the public sector.
Compare and contrast the benefits of a partnership with those of a sole trader.
Distinguish between non-profit organizations and non governmental organizations.
Why is the concept of limited liability important for investors?
What is the difference between a private limited company and a public limited company?
What are social enterprises?
Distinguish between cooperatives, microfinance providers and public-private partnerships.
Outline the benefits of social enterprises from society's point of view.
BE A CRITICAL THINKER: [AO3]
Recommend, evaluate and justify suitable forms of business organization in particular circumstances
Private & Public Sectors
Profit-based organizations
Important to Watch
Unincorporated and incorporated businesses
Important to Watch
Limited and unlimited Liability
Types of For-Profit Organizations
Watch this summary video to understand the common types of business ownership an entrepreneur has to choose from.
Public vs Private Companies
This video outlines the difference between a public company and a private company, pros and cons either, and how the stock market works.
Going Public
CNBC's Uptin Saiidi explains what it means when a company sets an initial public offering and why go public.
Ben & Jerry's Now and Then
From a small partnership to a multi-million dollar company
Ben Cohen & Jerry Greenfield, high school friends, partnered up in 1978 during their late 20's, and opened their first ice-cream shop in a converted gas station in Vermont, using $12,000 of personal savings and an additional bank loan of $6,000.
The rest is what we know as the famous ice-cream brand of Ben & Jerry's.
To learn more about their growth and evolution, visit unit 1.6
Ben & Jerry's first location in Vermont
One of the biggest drawbacks of partnership is conflict that arises between the partner. This articles features how Ben & Jerry "Remained Best Buds After 37 Years Running Their Ice Cream Business".
Becoming a Corporation
Visit unit slides to learn:
The difference between private & public sectors of the economy.
What is a public limited company vs a sole trader or partnership
The process of incorporating
The difference between private & public limited companies
The process of becoming a public limited company
Advantages and disadvantages of a corporation
For-profit social enterprises
Cooperatives
Microfinance providers
Public-private partnerships
Non-profit social enterprises
Click on the logos to take you to the home page of some Non-Profit Social Enterprises
