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The Nature of Business (The Different Forms of Business Organisations…
The Nature of Business
Important Terms Used in Business
Transition from a Subsistence Economy to a Money Economy
Subsistence Economy
Money Economy
The Different Forms of Business Organisations
Partnerships
Cooperatives
Sole Traders or Sole Proprietorship
Companies
Differences between Private Sector and Public Sector Organisations
Franchises
Syndicates
Joint Ventures
State-Owned Enterprises
Nationalised Industries
Statutory Body or Agency
Government Departments (Ministries)
Local Governments and Municipalities
Types of Economic Systems
Free-Market or Capitalist Economies
Command or Socialist Economies
Traditional or Subsistence Economy
Mixed Economy
Key Functional Areas of a Business
Human Resources Department
Purchasing Department
Marketing Department
Customer Service Department
Finance and Accounting Department
Customer Service Department
Production Department
Research and Development (R&D) Department
The Role of Stakeholders in Business Activities
Internal Stakeholders
External Stakeholders
Legal and Ethical Issues Governing Businesses
Legal Issues Governing Formation of a Company
Business Ethics
Consequences of Unethical and Illegal Practices
Careers in the Field of Business