1 / 8

Understanding Types of Businesses and Labor: From Sole Proprietorships to Corporations

This document explores the various types of business structures, including sole proprietorships, partnerships, and corporations. It highlights how corporations function as separate legal entities and the role of stockholders. Additionally, it discusses non-profit organizations that provide services without profit-making motives. The text also categorizes types of workers—blue-collar, white-collar, and agricultural—and skill levels from unskilled to professional. Lastly, it examines labor unions' roles, collective bargaining, and the improvements they brought to working conditions.

dena
Télécharger la présentation

Understanding Types of Businesses and Labor: From Sole Proprietorships to Corporations

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Unit 10: Personal Finance Businesses & Labor

  2. Types of Businesses • Sole proprietorship: business owned & operated by single person • Partnership: business owned by 2+ ppl • Corporation: business organization owned by many ppl but treated by law as if it were one person

  3. Corporations • Thought of as separate legal entity from the people who own it • Raise $ by selling stock – shares of ownership • Stockholders = ppl who buy/own stock • Have say in business • Corporate profits paid to stockholders = dividends

  4. Other Businesses • Non-profit organization – provided goods/services w/out earning profit for stockholders (don’t make a profit) • Charities, research associations, cultural programs • Donations to operate • Some large non-profits are corporations • Red Cross, United Way, Boy Scouts, Girl Scouts

  5. Types of Workers & Skill • Blue-collar – employed in crafts, manufacturing, non-farm work • White-collar – employed in offices, sales, prof positions • Agricultural workers – farm labor • Skill Categories: • unskilled workers – job needs no specialized training • Semi-skilled workers – job needs some training in job related skills (modern technology) • Skilled workers – learned trade/craft through school or apprenticeship • Professional – highly educated w/ college degree & train.

  6. Labor Unions • Labor unions – organizations of workers formed to improve wages/working conditions • Became prevalent in early 1900s bc of industrial revolution • Improved factory conditions, wages, hours, child labor laws • Recent decline in membership • Overseas jobs, poor economy

  7. Labor Unions • Types/Examples: • Craft Union – made up of skilled workers in specific trade or industry; earliest type • Industrial Union – made up of all workers in an industry regardless of job or skill • AFL – CIO – American Federation of Labor & Congress of Industrial Organizations • Combined craft & industrial unions; common now

  8. Collective bargaining Collective bargaining – when union & company meet to discuss terms of workers’ contracts Mediation – 3rd party brought in to help reach agreement; not forced decision Arbitration – 3rd party listens to both sides & makes final decision

More Related