State the various types of organisations in the Peivate sector
Answers
Answer:
(i) Sole Proprietorship It refers to the form of organisation where business is owned, managed and controlled by a single individual who bears all the risks and enjoys the whole profit.
(ii) Partnership It defined as an association of two or more persons who agree to carry the business together and share the profit as well as hear risks collectively.
(iii) ‘Joint Hindu Family This business is owned and carried on by the member of a Hindu Undivided Family which is governed by the Hindu Law.
(iv) Company It may be defined as an artificial person existing only in the eyes of law with « perpetual succession, having a separate legal entity and common seal. It’s of two types-Private and Public.
(v) Multinational Corporations They are huge industrial organisations which extend their industrial and marketing operations through a network of their branches in several countries.
Answer:
Forms of business organization
1. sole proprietorship business
A business owned managed and controlled by a single individual is known as sole proprietorship.
2.partnership business
It is an association of two or more number of persons who agree to jointly pursue business activities.
3. Joint Hindu family business
A business which is owned by the members of a joint Hindu family is called Joint Hindu family business.Also known as Hindu undivided family business.
4. cooperatives
Voluntary association of persons who join together with the motive of welfare of the members are known as cooperative societies.
5. Joint stock companies
It is an incorporated association of persons having separate legal existence, perpetual succession having common seal as official signature.
other forms
6. Joint ventures
Organizations formed by agreements between two or more business to join together for a common purpose and mutual benefit is Known as joint ventures
7. Multi National companies/ global enterprises
Organizations which have their headquarters in one country and business operations in other countries are known as MNCs.
Explanation:
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