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Setting Up New Enterprise - Coggle Diagram
Setting Up New Enterprise
The Enterprise Process
Identifiying problem/need/want
Exploring creative solutions
including
Find new, better ways to solve problems
Stand out from competitors
Action planning
including
Make clear plan of what needs doing
Define who and when
Implementing the plan
including
Plan is put into action
Business starts operating
Delivering products/ services
Monitoring progress
including
Check if goals are met
Fix problems before serious
Evaluation of successes and failures
including
Learn from experience
Make improvements for future projects
Types of Business Organisation
Solo Trader
Owns and runs business alone
Keeps all profits
Takes all risks
Partnership
Owned by two/more
Share profits, losses and resposibilities
Limited Company
Own legal identity (separate from owners)
Offers limites liability to shareholders
Private limited, public limited
Co-opertative
Owned and run by its members
For their shared benefit
Social Enterprise
Aims to help people/ community
Focus not only on profit
Charities/ Not-for-profit
Charity aim: Raise funds and provide help
Not-for-profit: Money made supports gaols, not personal gain
Franchise
Buys right to use another company's name/system
SOCIAL STUDIES ENTERPRISE
Types of Business Organisations
Unincorporated Businessess
Solo trader
Partnership
Incorporated Businesses (separate legal entity)
Limited Company
Co-operative
Other Types
Franchise
Social Enterprise
Enterprise Project Development Stages (Project Prompt)
Stage 1: Identifying problem/need
Stage 2: Solution analysis
Stage 3: Action plan
Stage 4: Resources and Support
Stage 5: Monitoring Progress
Ongoing: Reflection