2
UNIT
ESSENTIALS
Business, Finance and Marketing
The organisation of business 026 Business organizations can be distinguished by how they are owned. Private sector organizations are owned by private individuals. They include: •• sole traders •• partnerships •• private and public limited companies •• co-operatives •• franchises. Businesses must constantly change to keep up with the times. They can expand to increase profits and sales through mergers, acquisitions, take-overs and joint-ventures. If they find that their national COMPETENCES markets are too small for them they can switch some production ►► finding and choosing the to foreign countries and become right information on the multinational companies. Internet To respond to changing economic ►► identifying the advantages situations they may have to find new and disadvantages of ways to compete on the market: specific types of business start-ups, microbusinesses organization and making and coworking are examples of relevant suggestions innovative ways of doing business. ►► giving an oral presentation ►► writing a report
EXPANSION
Case study • Sole trader or partnership? • Multinationals
Press files • Business starts at school in this golden age for young founders • Game on: what happens to video startups that make millions on kickstarter?