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BUISNESS ORGANIZATIONS, SOLE TRADER - Coggle Diagram
BUISNESS ORGANIZATIONS
organization
trade under particolar name
controls
capital
labour
land
take decision to the buisnes way
comon fomr are
public sector
privete sector
volontary sector
SOLE TRADER
property
most simple busness
have one or more employess
owned by
one person
responsible for all action of buisnes
advantage and disadvantage
Unlimited liability
Can be difficult to raise finance
Prices are usually higher
Cheap and easy to start up
All the profit belongs to the sole trader
Total control of the business by the owner
Business affairs are private
sensitive to the needs of customers