None of the four forms of business organisation has all the features of an ideal form of business organisation critically evaluate the statement
Answers
Although literally there are many conditions of ideal business environments and ethics, it is tough to find all the factors present in every organization.
Capital raising, operational flexibility, liability, continuity, and stability are some of the major factors an organization needs.
One needs to add the tax burdens, the management control and follow the government control to run the show perfectly.
Business organisation: A business organisation is a format that is legally recognized and characterized by the legal definition of that particular category.
There are many types of business structures. Some of them are,
- Sole Proprietorship
- General Partnership
- Limited Partnership
- Limited Liability Partnership (LLP)
Sole proprietorship: An individual or a couple in business which is simple to form and operate is called Sole proprietorship.
Partnership Firm: The business is owned, managed and controlled by an Association for profit is referred to as a partnership firm.
Limited Partnership and LLP have only limited control over the business.
Hence, None of the four forms of business organization has all the features of an ideal form of business organization.
The statement is valid for many reasons.
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