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Business Organisations - Coggle Diagram
Business Organisations
Profit-oriented
Sole trader
One owner
Full control
Keeps all profit
Unlimited liability
Partnership
Two or more owners
shares workload
decisions of one partner affect all
unlimited liability
Limited company
owned by shareholders
limited liability
public or private
incorporated
Francise
Franchise buys right to use franchisor’s brand & system
Lower risk due to recognised brand
Franchises pays license fee & follows franchisor rules
Co-operative
Owned and controlled by members (consumers, workers, or producers)
Democratic decision-making
Profit shared among members or reinvested
Harder to raise finance
Social-oriented
Social Enterprise
Sells goods or services but with social mission
Profit reinvested to help the community
Not created to maximise owner profits
Examples include charities and not-for-profit organisations