A joint stock company and partnership form of organisations can be compared as under: Comparison # Joint Stock Company: 1. It has a separate legal entity, having its existence separate from its shareholders. 2. It may consist of any number of members. 3. Shares can be transferred to others without the consent of anybody. 4. It invests according to memorandum [...]
After reading this article you will learn about unlimited and limited liability of an organisation. Unlimited Liability: In this system, there is no maximum limit of capital which can be collected from debtors in the case of failure of business. The creditors may collect money even from the personal property of the owner. Because of the risk involved in this [...]
After reading this article you will learn about the principles and factors affecting the span of control. Principle of Span of Control: It is the number of subordinates which are directly under their superiors. The number of subordinates, over whom control is to be exercised, should be reasonable. As, too small number will lead to non-utilisation of full time and [...]