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Four profit commercial enterprises - Coggle Diagram
Four profit commercial enterprises
Sole tardes
Definition
Individual who owns and runs a business alone
Entrepeneurs
Example
Self-employed
Restaurant owners
Free-lance workers
Tailors and interior decorators
Fashion designers
Advantages
Easy to set up
Profits
Fast decision-making
Personal service
Finantial records remain private
Disadvantages
Unlimited liability
Difficult to financie
High risk of failure
High workload
Lack of continuity
Higher taxes
Corporations
Publicly held corporationes
Companies that Wish to access large amounts of financiar capital in order to grow
Examples
Astrazeneca (UK)
Samsung (South Korea)
Apple (USA)
Advantages
Risks
FInances
Limited liability
Separate legal identity
Disadvantages
Shared profits
High costs
Loss of Controls
Accounts are publicly available to be viewed
Privately held corporations
Privately Company owned and often has Family or Friends as the shareholders
Examples
Lego (Toys)
Huawei (China)
Vodacom Group Ltd
Advantages
Control and ownership
Greater access to finance
Financial record
Disadvantages
Profits
Privacy
Shares can't be traded publicly to raise finance
Definition
A larger organizations owned by many individuals
Partnership
Definition
Creation of a business by 2 or more individuals
The ownership and control are split equally between the Partners, or they May determine another arrengment that suite the purpose of the business
Examples
Medical practices
Law firms
Advantages
Easy to set up
Access to finance
Greater efficiency and productivity
financiar records ramón private
Disadvantages
Unlimited liability
Legal and financiar resposability
Lack of continuity
Potential for disagreement
Lack of decision.making
Anette Sánchez Guzmán A01708284
Valentina Soria Becerra A01708283
Mariano Moad Valenzuela A01710210