Please enable JavaScript.
Coggle requires JavaScript to display documents.
COMPANIES- TYPES AND DEPARTMENTS - Coggle Diagram
COMPANIES- TYPES AND DEPARTMENTS
Types of companies
Sole proprietorship
- owned by one person ( there is no legal distinction between business owner and business)-ideal for gig economy
Advantages: decision-making is quick
Disadvantages: full responsibility is in the hands of the business owner
Partnership
- two or more partners join forces and bring capital in a business. They can also be family businesses. Advantages: quick decision-making, one partner brings the capital, the other the know-how
Disadvantages: can lead to deterioration of relation
SME
(Small and Medium-sized companies) the majority of businesses are of this type. Number of employees can be under 50 ( small companies) or -250(medium-sized) ex: having a bar, a gym, a law office, a small factory
Corporation
- separate and distinct entity from its owners. Important feature: limited liability, which means that its shareholders are not personally responsible for the company's debts.
ex: Your company
Speak about jobs in your department+ responsibilities you have. (suggested vocabulary)
I'm in charge of ... writing reports/ keeping contact with customers/ drafting legal documents/ supervising production processes/ organising interviews etc
My responsibilities include: training staff/ making the payrolls etc.
I'm responsible for
What I like about my job is that:
One or two things I don't like about my job is that.....
Company structure
headquarters-main buildings
subsidiaries/ branches - having offices or plants in other cities/countries
factory/plant- in charge of production of goods
warehouse- where produced goods can be stored in stocks
outlet- a shop where the goods your company produces can be sold
Company departments
Marketing .
This department prepares goods for the market including packaging, advertising
Production responsible for the creation of the product.
Purchasing. Department that has to find and buy everything for a company
Sales. This department is responsible for finding customers and making sales.
IT-It ensures the company system runs efficiently and provides support to its users.
Human resources. This department deals with employees (recruitment and welfare)
Administration. This department provides support and service for the activities of the Boards of Directors.