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Week 3 - Coggle Diagram
Week 3
Stakeholders
media
suppliers
community
unions
employees
Non-Incorporated
sole proprietor
advantages
low cost
100% of profit
exclusive decision making
disadvantages
all responsibility
skills limited
unlimited liability
partnership
advantages
greater capital and skills
100% access to profit
division of tasks
disadvantages
limited independence
risk with exit of partners
unlimited liability
Incorporated ('legal entity')
advantages
limited liability
greater access to capital
disadvantages
legal procedures
no personal assets
Not-for-profit
Government
taxpayer
taxpayer benefits
defence, health care, transport
Charities
tax exempt
lower cost base
target group