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ORGANIZATION
Defined as a social setting composed of several groups of people who bond and work together to achieve a common purpose.
GOVERNMENT ORGANIZATION
In the form of National Government Agencies or Local Government Units. They are mandated by law to perform specific duties and responsibilities and provide services for the people nationwide.
NONGOVERNMENT ORGANIZATIONS
Civil society associations, corporate foundations, educational institutions, small enterprises, or particular group or target beneficiaries.
PRIVATE ORGANIZATION
Maybe subcategorized into business associations which promote the interests of the industry players or business enterprise which earns profits.
1. Philippine Chamber of Commerce and Industry (PCCI)
2. Management Association of the Philippines (MAP)
3. Makati Business Club
Examples of Private Organizations.
CORPORATION
Ownership is through shared stock. Business has a legal identity that is separate from the legal identity of the owner.
SOLE PROPRIETORSHIP
Owned by one person only. Owner has full liability in case of financial loss.
PARTNERSHIPS
Owned by two or more persons. Businesa partners have shared liability in case of financial loss.
GENERAL PARTNERSHIP
All partners have unlimited personal liability and take full responsibility for the management of business.
LIMITED PARTNERSHIP
Partner's liability is limited to their investment.
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