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Ch 19/18? Business Organisations

Ch 19/18? Business Organisations. PLC Min 7 owners Can sell shares to public E.g Ryanair PLC Benefits and negatives of Public L C Write out from book Write out summary in your own words on each of the types of business start with Soletraders and end with state owned businesses .

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Ch 19/18? Business Organisations

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  1. Ch19/18?Business Organisations • PLC • Min 7 owners • Can sell shares to public • E.g Ryanair PLC • Benefits and negatives of Public L C • Write out from book • Write out summary in your own words on each of the types of business start with Soletraders and end with state owned businesses

  2. Soletraders • E.g tradesmen • decisions made by them • declare their own taxes • no need to publish accounts • less likely to get loans • bears all the risk

  3. Private LTD companies • 1 – 50 shareholders • At least 2 directors • Can’t sell shares to the public • Easons Ltd • Steps in setting up: Rules in the companies act 1990 • MOA, AOA, form A1 • Founders send docs with fees to registrar of companies • Receive a cert of incorporation from registrar • Statutory meeting , Vote in BOD. Now corporate body separate from its owners.

  4. Partnerships • Write out definition from book • min of 2 people • governed by partnership act of 1890 • one general partner has unlimited liability • + better skills and decisions and money • - share profits, liable,loans,death

  5. Franchising • Write out definition. E.g O’Briens sambos • E.g Mc Donalds. Same good product and service, logo worldwide. • Franchisee pays a sum at the start to open • Franchiser also gets paid royalties\%profits • Franchiser gives management and supplies

  6. Question • Soltrader? • Partnerships? • Franchise? • Private limited. Write defo out from book • Public limited • Explain differences and e.g’s

  7. Franchising benefits and negatives • expand with little investment or risk • tried and tested business formula • marketing and training • little freedom for iniative • pressure to keep high standards

  8. Co-operative Society • Write out defo. E.g credit union + avonmore • common interest in set up of business • min 7 members, limited liability, one vote • Registrar of friendly services €8,000-127,000 • Credit unions surplus funds go as dividends to us • producer co-ops develop and sell products farmers give them, helps the Irish economy • farmers in co-ops get little power, co-ops still need loans despite number of shareholders

  9. Transnationals • Big companies, head office in one country but many branches of the company worldwide • I.T and communications made it easier • American global corporations in Ireland • e.g. Gateway, Intel etc.

  10. Question • + and – of franchises? • Co operatives? • Transnationals? • Explain differences and e.g’s

  11. Positives and Negatives • Good and bad to have them in Ireland • Give jobs, new skills, Irish suppliers, pay tax, country’s reputation • Move on to cheaper places for labour and grants when grants expire • false Irish balance of trade view as profits move to places where sell goods not make.(transfer pricing). Profits repatriate back to head office

  12. State Owned Enterprises • Government organisations e.g Dublin bus • give jobs, aid research, can run unprofitable and necessary services like Dublin bus for the publics needs. • Maybe overstaffed, unprofitable, poorly capitalised, poorly run • Privitisation= Sell government companies to private business people

  13. Private versus Public companies • state companies arguably less concerned with money and more concerned with the general public/environment • better for a countries image, Aerlingus • Deregulation: allow new companies into a market • e.g allow valutel, worldcom, euphony into Telcom Eireanns market. • Private companies often take over state companies or add to competition through government legislation e.g Aerlingus, Eircom, Airtricity • P361-366 sum p362 set up private ltd • Memorandum and articles of association p363 • Alliances p 375 • P378 Changing trends

  14. Conclusion • Types of business organisations include PLC, Private Ltd, sole traders, partnerships, franchises, co operatives, transnationals, state owned companies. • Know the pro s and cons of each type and of having transnationals in Ireland. • Pros and cons of private versus public companies. • Memorandums, Articles Form A1 see examples. • Why change structures? 93 notes • Privatisation and trends in structures. 92 mocks notes

  15. Question • + and – of transnationals? • State owned? • Private versus public? • Explain differences and e.g’s

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