Week 4 Winter 08 - Social Context of Business Week 4...

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Unformatted text preview: Social Context of Business Week 4 Introduction to the Business Sector 2 The Canadian Private Sector Partitioning the Canadian Economy: Primary Sector natural resource based industries Secondary Sector manufacturing, construction, utilities & communications Tertiary Sector various levels of business, financial, public and personal service industries, and non-production-oriented activities 3 The Canadian Private Sector Traditional primary sectors have declined in relative importance There is, nonetheless an increasing interdependency of the three groups of industries 4 The Canadian Private Sector Canadas Key Sectors (Source: investincanada.com) Aerospace Agri-Food Automotive Biotechnology Chemicals Information and Communications Technologies Medical Devices Oil and Gas Pharmaceutical Plastics 5 The Canadian Private Sector Forms of Business Ownership (Source of Information: Robert Sexty: Canadian Business in the New Stakeholder Economy, Prentice Hall Canada, 1998) Sole Proprietorship Partnership General Limited Incorporation Under Federal Laws Under Provincial Laws Public Corporation Private Corporation (including most Family Businesses Alternative Business Forms Government Business Enterprises Cooperatives 6 The Canadian Private Sector Forms of Business Ownership (Source of Information: Robert Sexty: Canadian Business in the New Stakeholder Economy, Prentice Hall Canada, 1998) Sole Proprietorship (SPs) The simplest form of business organization available to any individual who is legally able to enter into a binding contract SPs fall under provincial and municipal jurisdiction Filing a name declaration is not required provided the proprietorship operates under a persons name Owned and operated by one person 7 The Canadian Private Sector Forms of Business Ownership (Source of Information: Robert Sexty: Canadian Business in the New Stakeholder Economy, Prentice Hall Canada, 1998) Partnership An arrangement whereby two or more persons combine some or all of their resources in a business undertaking with a view to sharing profits among partners Provincial laws require that a partnership must legally register its name and give information about the partners General Partnership Partners are not only liable in equal share for the debts of the partnership (jointly liable) but in addition, each partner is liable for the full amount (jointly and severally liable) Each member can bind the partnership without consent of the other partners 8 The Canadian Private Sector Forms of Business Ownership (Source of Information: Robert Sexty: Canadian Business in the New Stakeholder Economy, Prentice Hall Canada, 1998) Partnership An arrangement whereby two or more persons combine some or all...
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Week 4 Winter 08 - Social Context of Business Week 4...

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