Question

“One man control is the best in the world if that man is big enough to manage everything."
(a) Which form of business organization is highlighted in the above statement? (b) Explain any three features of the organization identified in (a).​

Answer 1

Sole Proprietorship

One man control is the best in the world if the man is capable enough to manage everything. This statement states about sole proprietorship form of business. In sole proprietorship type of business the single individual takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.

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