FORMS OF BUSINESS ORGANIZATION AND TYPES OF BUSINESS ACCORDING TO ITS ACTIVITIES.pdf

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Writer: Ms. Nenia Jane V. Gloria - LPT FORMS OF BUSINESS ORGANIZATION AND TYPES OF BUSINESS ACCORDING TO ITS ACTIVITIES Learning Objectives: In this chapter, the learner should be able to, a.Differentiate the forms of business organizations b.Identify the advantages and disadvantages of each form c.Compare and contrast the types of business according to activities d.Identify the advantages, disadvantages, and business requirements of each type According to Fr. Floriano C. Roa, “Business is as old as human civilization.” In the ancient times, people were resourceful. Trading was called BARTERwhich refers to the exchange of goods to another goods. This kind of trading was introduced by the Sumerian. Years later, the civilization learned to use the coin for buying and selling goods with a certain value in it. Business is an activity of a person or group of individuals devoting money, property or professional skill with a goal of earning profit and contributing to the economy of the society. According to Friedman Milton, some organizations has an ultimate goal of gaining profit therefore the entity has to hire skilled managers and executives for this particular sense. Moreover, business organizations are vital element in the progress of the modern society. They make profits as people patronize the products, they help economies to grow, help in reducing unemployment rate in the country and contribute to helping country for sustainability by paying taxes required by the government. CLASSIFICATION OF ORGANIZATION a)For Profit Organizations.The organizations are formed with a goal of gaining profit through buying and selling of products or providing services and that profits are the reward for the risks taken and various activities preferred by the business.

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Term
Fall
Professor
Maricel Galang
Tags
Business Law, Corporation, Legal entities, Ms Nenia Jane V Gloria

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