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10 Cards in this Set
- Front
- Back
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NAME THE FOUR SECTORS OF INDUSTRY |
PRIMARY SECONDARY TERTIARY QUATERNARY |
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NAME THE SIX TYPES OF BUSINESSES IN THE PRIVATE SECTOR |
SOLE TRADER PARTNERSHIP PRIVATE LIMITED COMPANY (LTD) PUBLIC LIMITED COMPANY (PLC) FRANCHISE MULTINATIONALS |
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FOUR ADVANTAGES OF OPERATING AS A PRIVATE LIMITED COMPANY |
LIMITED LIABILITY MONEY RAISED BY SELLING SHARES Easier to expand because easier to raise capital Business no affected by status of owner
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FOUR DISADVANTAGES OF OPERATING AS A PRIVATE LIMITED COMPANY |
Growth may be limited because maximum shareholders is 50 Shares can't be transfered with other shareholders agreement Annual reports + accounts must be published Greater admin costs |
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WHO CONTROLS AND FINANCES A PRIVATE LIMITED COMPANY |
CONTROL-BOARD OF DIRECTORS FINANCE-SELLING SHARES |
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FOUR ADVANTAGES OF OPERATING AS A MULTINATIONAL |
EMPLOYMENT IS CREATED IN HOST COUNTRY ECONOMIES OF SCALE CAN BE ACHIEVED Access to greater varieties of consumers, increasing assseccibility to geographical areas therefore more profit Have production set up in countries with cheap labour |
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FOUR DISADVANTAGES OF OPERATING AS A MULTINATIONAL |
Subject to more laws than many other types of businesses Not all products will sell well in all locations Unemployment in original country Use resources from home country resulting in depletion of natural resources |
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FOUR ADVANTAGES TO THE FRANCHISER |
QUICK WAY TO INCREASE MARKET SHARE EARNS A % OF PROFITS RISKS ARE SHARED BETWEEN OR/EE INCOME IS GUARANTEED |
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FOUR ADVANTAGES OF THE FRANCHISEE |
SET UP BUSINESS USING ESTABLISHED NAME RISKS SHARED BETWEEN OR/EE ER IS LIKELY TO ADVERTISE SO NO NEED TO ADVERTISE INDIVIDUALLY Customer loyalty is already established |
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WHO CONTROLS, OWNS AND FINANCES THE PUBLIC SECTOR AND IDENTIFY 3 OBJECTIVES |
CONTROL- LOCALLY ELECTED COUNCILLORS OWNS- GOVERNMENT FINANCES- TAX, GOVERNMENT, FEES 3 OBJECTIVES- SERVICE TO GENERAL PUBLIC SERVICES SUCH AS SCHOOLS, ROADS IMPROVE LOCAL AREA |
