The following points are taken into consideration while selecting a form of business organisation: 1. Easy in Formation 2. Easy in Raising Finance 3. Extent of Liability 4. Flexibility of Operation 5. Stability and Continuity 6. Secrecy 7. Government Regulations 8. Tax Liability 9. Decision-Making Opportunities. Factor # 1. Easy in Formation: The primary consideration in making the choice is [...]
Following are the main types of business organisations: A. Private Sector B. Public Sector (State Ownership and Control) C. Joint Sector. A. Private Sector Organisations: 1. Private Companies (Individual Ownership): As the name suggests, such type of business is owned by one man. The businessman invests capital, employs labour and machines. This is the oldest and simplest form of business [...]
Importance of management for every business organization are: 1. Management helps in Achieving Group Goals 2. Management Increases Efficiency 3. Management Creates a Dynamic Organisation 4. Management helps in Achieving Personal Objectives 5. Management helps in the Development of the Society. […]