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Types of Business Organisation
This resource is designed specifically for Unit 1 of the Edexcel BTEC National qualification, 'Introduction to Business'.
Aim:
The aim of this resource is to develop your understanding of business organisations. By the end, you should be able to:
- Identify the differences between the private and public sectors of the economy
- State the four traditional examples of business organisations in the private sector (sole trader, partnership, private limited and public limited company)
- Understand the difference in terms of liability between these business types
- Identify two non-traditional business types (co-operatives and franchises)
Resources:
Activity:
- Go to the Business Organisation notes and review the table of different business organisations (http://www.bized.co.uk/learn/economics/micro/notes/busorg.htm)
- Research into the different types and find two further examples of each, drawn from your experience.
- The second part of the Activity is based on one of the less traditional business types - a franchise.
- Go to the Biz/ed Business Profiles(http://www.bized.co.uk/compfact/business_profiles.htm).
- Find an example of a business organisation based on a franchise arrangement. Write notes on the advantages and disadvantages of this business arrangement from the point of view of:
- The franchisee
- The franchisor
Image: McDonald's - one of the most famous franchises in the world. Copyright: Les Powell
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