Business Sectors In Today's World
Business sectors
Business sectors are part of the countries economy which is composed of companies. Following are the three sectors upon which business of today’s world depends:-
1.Public sectors –
The public sector is the segment of the countries economy which is controlled, maintained and owned by the state government. The ownership of the public sectors is dispersed among the general public. These sectors are funded and facilitated by the government who in return for the services are provided with taxes and fees that all citizens have to pay.
Their main aim is to provide essential services to the general public and to use resources well for the country's benefits. They do not aim towards profit. Some of their services include
…show more content…
Private companies have major importance in world’s economy. Their aims are directed towards profit, growth, increase marketing share and maximum sale.
Some of the advantages of private sector companies are that under legal cooperative requirements are less restricted than public companies, their members are well known to each other and there is continuation after the death of a certain member. That being said the drawbacks include having to share the profit among shareholders and possibility of double taxation.
Most travel and tour businesses belong to private sectors. Their main aim is making profit. Tourism is said to be the world’s largest employer. Some of the largest private companies include Cargill, Dell, Mars, Pilot etc. 3.Voluntary sectors –
Unincorporated companies/ organizations are set up through mutual agreement by a group of people who come together for a reason other than
…show more content…
It holds the individual legally responsible for all aspects of the business which may include debts and losses. Some advantages of sole trade over the others are that it is simple to set up and operates. In addition to giving the individual full control of their assets and business decisions.
- Partnership
It is a legal form on business operation that may involve two or more individuals. These individuals under legal statements are obliged to share the ownership and profit.
It is of two types general partnership and limited partnership. In a general partnership partners assume responsibility for their partners debts and other matter. Whereas a limited partnership has both general and limited partners.
The general partners own the company wile the limited partners serve as investors only.
- Private limited companies or LTD
A type of privately held small business entity which limits the number of shareholders to fifty. It also restricts them from publicly trading shares. It limits owner liability to shares.
Snapdeal, Carat Lane, Zoom Car are all private entities.
- Public limited company or
Salvation Army Food Bank
443 Words | 2 PagesAs McMurtry has highlighted, it is about the people helping and giving back rather than pushing for their own individual gain. The purpose of the Salvation Army is to enlighten the community which they are attending to and persevere through the tough situations and reach a goal of creating a prosperous community, either in providing food or in any other way they can. In other words, it is there to help achieve a secure standpoint. The Salvation Army has had a major role in helping communities and many people, especially children. Due to its involvement, it has now become known all over the world due to its aiding efforts.
Health Group Case Study: Unitedhealth Group
1137 Words | 5 PagesUnitedHealth Group is a particularly broadened health and well-being company headquartered in the United States, and a leader worldwide in helping individuals live more beneficial lives and helping improve the health system work for everybody. We are focused on presenting inventive methodologies, items and administrations that can enhance individual wellbeing and advance more advantageous populaces in neighborhood groups. Our center abilities in clinical aptitude, propelled innovation and information and well being data remarkably enable us to meet the developing needs of a changing healthcare environment.
An Example Of Business Research: Walt Disney Company
1067 Words | 5 PagesWhat is Research? It is a careful investigation of a problem in a scientific manner, especially to search for new facts in any side of knowledge. And it is searching for theory or opinion for testing them or for solving issues. And a scientific way for answering questions and testing hypotheses.
Taking A Look At Non-Profit Organizations
770 Words | 4 PagesIt cannot be created for individual purpose or family benefits. A non-profit organization cannot be sold to other individual or organization, but it can pass to someone who is willing to continue it. Formation of limited-liability company (LCC) aims to gain more benefit for entrepreneurs by limited liability. It has tax advantages of a partnership along with the corporation and the benefits are similar to the S corporation in which special eligibility is not required.
Swot Analysis Of Ubisoft Entertainment
1520 Words | 7 PagesIn India their aim was to help children (students) from vulnerable backgrounds to apply on first job. In China Ubisoft studios provided shelter, medical and education support to orphans. As you can see the goal directly follows the mission statement of Ubisoft Entertainment, hence it seems that Ubisoft Entertainment is successfully living out it. In general, Ubisoft organizational objectives seem to associate with mission statement.
Differences Between The Private Sector, Public Sector And Voluntary Sector
1912 Words | 8 PagesUnderstand organisational structures 1.1 Explain the differences between the private sector, public sector and voluntary sector In the business world there is three main sectors that separate different organisations they are: The private or commercial sector, the public sector and Voluntary or not-for-profit sector. The Public sector aims for goals other than profit but are not operated by the authorities on the other hand the Private and Commercial sectors main aim is to make profit and is the crucial difference between an organisation flourishing and an organisation being liquidated. Unlike the Private and Commercial sector that are funded by either an owner or shareholders the Public sector is funded entirely by the government.
The Five Key Roles Of The Department Of Homeland Security
1027 Words | 5 PagesCritical Infrastructure Protection [Name of Writer] [Name of Institution] Critical Infrastructure Protection 1. Interpret the Department of Homeland Security‘s mission, operations and responsibilities. The department of homeland security is responsible for ensuring a secure and safe homeland against acts of terrorism. The key elements of the department’s mission include: • Security • Resilience • Customs and Exchange
Four Key Business Functions
707 Words | 3 Pages99% of businesses have four key business functions, these include; operations, marketing, finance and human resource management. Each of these specific areas has their own attributions towards their businesses success and failure and often has dedicated departments and staff for these four business functions. Despite this the functions are interdependent meaning they rely upon one another to achieve and exceed their goals and expectations set by themselves and management. The function of finance affects and is affected by the other key business functions.
The Pros And Cons Of GNH
1688 Words | 7 Pages9) Establish coherence of policies to promote performance and growth, through a regular process of policy review and commissioning of policy research/studies/surveys by expert groups. (Gross National Happiness. Retrived from http://www.grossnationalhappiness.com/) Code of Conduct for the Member of GNHC All the members of the GNHC are supposed to abide by some rules and regulations. These rules and regulations are as follows: i. Strive to maintain the highest standards of integrity, loyalty, dedication and endeavor to promote professional excellence in fulfilling the objectives of the Commission.
Compare And Contrast Economic Systems
757 Words | 4 PagesResources are either owned privately or by the state and more importantly, the resources are controlled or heavily regulated by the state through a large amount of government power or large administrative concentration of power. Examples of some countries that are a command economy include North Korea, Cuba, the Soviet Union and the People’s Republic of China. Although, market and command economies may seem completely different from each other they share a few similarities such as, a command and market economy both have producers and consumers, goods, services, and labor.
Impact Of External Business Environment On Automobile Industry
1406 Words | 6 PagesSUMMARY In this report, I am explaining how the impact of External Business Environment on Automobile industry in UAE. Also, how the external environment factors are dominant on the growth of an industry including dimensions of management, human resource, marketing and IT tools used in the Industry. INTRODUCTION
The Pros And Cons Of Internet Censorship
757 Words | 4 PagesThe day after it launched, again, its net traffic was up by 45% (most of them being curious newcomers) and it eventually helped to boost the website’s growth and popularity. What did governments gain by this stunt? Nothing worthwhile, I
Executive Branch In Malaysia
1326 Words | 6 PagesExecutive Branch is the oldest government in Malaysia, a place where government take place to bring up political issues or a place in the framework of federal representative democratic consultation monarchy and also a place that where exercised by the federal government of the 13 states. Executive Branch in Malaysia usually is to formulate and implement the policies in the country Executive brunch is chosen by the public through election and government will bring great impact on political system in Malaysia. Executive power is vested in the cabinet led by the Prime Minister and The Malaysian constitution stipulates that the Prime Minister must be member of the Lower House of parliment. The cabinet is chosen from among of both houses of Parliament
Sole Proprietorship Pros And Cons
1021 Words | 5 PagesAlso, it happens to be a separate entity from the partners. Cons: Every partner is responsible for their own negligence, misbehavior, etc. While every partner is responsible for their actions, if someone under them makes a mistake the partner takes the blame for that also. Not to mention, LLP is only available for specific occupations.
More about Business Sectors In Today's World
Salvation Army Food Bank
443 Words | 2 PagesHealth Group Case Study: Unitedhealth Group
1137 Words | 5 PagesAn Example Of Business Research: Walt Disney Company
1067 Words | 5 PagesTaking A Look At Non-Profit Organizations
770 Words | 4 PagesSwot Analysis Of Ubisoft Entertainment
1520 Words | 7 PagesDifferences Between The Private Sector, Public Sector And Voluntary Sector
1912 Words | 8 PagesThe Five Key Roles Of The Department Of Homeland Security
1027 Words | 5 PagesFour Key Business Functions
707 Words | 3 PagesThe Pros And Cons Of GNH
1688 Words | 7 PagesCompare And Contrast Economic Systems
757 Words | 4 PagesImpact Of External Business Environment On Automobile Industry
1406 Words | 6 PagesThe Pros And Cons Of Internet Censorship
757 Words | 4 PagesAnalysis Of The Corporate Culture Of Red Bull
2037 Words | 9 PagesExecutive Branch In Malaysia
1326 Words | 6 PagesSole Proprietorship Pros And Cons
1021 Words | 5 Pages