Question

Describe essential features of business. What are the main objectives of business?What are the requisites of an ideal form of business organization? Compare briefly various forms of business organizations. ​

Answer 1

There are various forms of organizations a business can adopt – sole proprietorship, partnership, company etc. But how do you choose the one most suited to your business? Let us study some characteristics of an ideal form of organization which will help us make the decision.

• Characteristics of an Ideal Form of Organization :-

These are the factors any business should consider before choosing their form of organization. After consideration of these factors the business should be able to make an appropriate and informed decision.