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1. Sole proprietorship 2. Joint Hindu family business 3. Partnership 4. Joint-stock Company 5. Cooperative Societies Sole Proprietorship It is a form of organisation owned, managed and controlled by an individual (also known as a sole proprietor) who is responsible for bearing all the risk and receiving all the profit. Features • The sole proprietor can establish and close the business without any legal formalities. • The liability of the sole proprietor is unlimited. • Being the sole owner, the sole proprietor bears all the risk and receives all the profits. • All the decisions are taken and implemented in the organisation by the owner. • Owners and businesses have no separate entity and are considered one in the eyes of the law. • Even in case of a lack of business continuity, the business can continue until the owner wants. Advantages • Prompt decision-making as all the decisions are to be taken by the owner. • Being a sole owner, it is easy to maintain business secrecy. • The owner enjoys all the profits as there is no one to share profits. • A successful business provides satisfaction to the owner and a sense of achievement. • No legal formalities are required for a business’s formation and closure, making it easy to start and end the business. Disadvantages • Due to limited resources, a business can be funded from the owner’s savings or money borrowed from friends or relatives. • The business’s continuity depends on the owner’s health and state of mind. • If the business fails to repay debts, the sole proprietor’s personal assets are at risk. • One person may not possess the ability to manage all the functions. Joint Hindu Family Business In this form of business organisation, the business is owned and managed by the members of an undivided Hindu family, with the possibility of three successive generations as members of the business. Features • The business is formed with at least two members of a Hindu Undivided Family having ancestral property. The Hindu Succession Act, 1956, governs it. • Except for Karta, all the family members have limited liability up to their share in the business property. • Karta has the right to control all the activities in the business organisation. • The business can be discontinued based on the consent of all the members of the family. • Membership in the organisation is by birth. Advantages • Karta has complete control of the business, thus effective decision-making is ensured. • The business continues till all the members wish to continue, and control is transferred to the next elder member in case of the death of ‘Karta’. • Members of the family enjoy liability limited to their share in the business party. • All the work is done with the common objective of growth as the family members have a sense of belongingness and loyalty. Limitations • Due to limited financial resources, businesses can be funded mainly from ancestral property.
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Dive into the world of sales excellence with 'A Day in the Life of a Salesman/Woman.' This presentation offers insights into the daily routines and strategies of dedicated sales professionals, covering everything from strategic planning to closing deals. Explore key insights and practical tips for navigating the modern marketplace while celebrating the passion and purpose of those who drive the business forward.
A DAY IN THE LIFE OF A SALESMAN / WOMAN
A DAY IN THE LIFE OF A SALESMAN / WOMAN
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Transformation is even harder than we thought “Only 22% of companies successfully carry out transformation. The failure rate was 78%.” “Often the business value of digital transformation is not realized. One of the most common causes is an abundance of technology projects, not a true business culture transformation” - Phil Le-Brun, Enterprise Strategist, AWS
Organizational Transformation Lead with Culture
Organizational Transformation Lead with Culture
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Monthly Social Media Update April 2024 pptx.pptx
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The RSA Conference serves as a significant platform for cybersecurity experts and vendors, to explore cutting-edge innovations in the cybersecurity field. Reach out to your target audience with our RSA Conference Exhibitor List 2024!
RSA Conference Exhibitor List 2024 - Exhibitors Data
RSA Conference Exhibitor List 2024 - Exhibitors Data
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A DAY IN THE LIFE OF A SALESMAN / WOMAN
A DAY IN THE LIFE OF A SALESMAN / WOMAN
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Organizational Transformation Lead with Culture
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Monthly Social Media Update April 2024 pptx.pptx
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RSA Conference Exhibitor List 2024 - Exhibitors Data
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Chapter 6 forms of business ownership
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