The document discusses different forms of business organization including sole proprietorship, partnership, joint hindu undivided family business, and company. Sole proprietorship is owned and controlled by an individual who bears all risks and profits. Partnership involves association of two or more individuals who pool resources for business. Joint hindu undivided family business is carried out by male members of a hindu family. Company is a legal entity separate from its owners where business is carried out through sharing of risks and profits by shareholders.
2. Sole proprietorship refers to a form of
business organisation which is owned,
managed and controlled by an individual
who is recipient of all profits and bearer
of all risk .
7. EXAMLES
CATERING
COMPANY
LAND SCAPER
FREELANCE
WRITER
HOME HEALTH
CARE
VIRTUAL
ASSISTANT
8.
9.
10. Defination of HinDu unDiviDeD
family
The business carried out by the
male members of a Hindu
undivided family is known as
Joint Hindu Family Business.
11. Conditions of Joint Hindu Family
There are two conditions for existence of joint Hindu
family business. These are:
1. Minimum two male members must be there in the family.
2. Existence of some ancestral property.
The business is controlled by the head of the family
who is the eldest member and is called Karta . All
members have equal ownership right over the property of
an ancestor and they are known as Co-parceners.
12. Systems of Hindu Undivided Family
Under Hindu law there are two systems of
inheritance. These are:
1. Dayabhaga : This system prevails only in
West Bengal. Under this system the male as well
as female members of Joint Hindu Family can
become copartners as well as co- parceners.
2. Mitakashara : This system prevails all over
India except West Bengal. Under this system
13. Features
Formation
Liability
Control
Continuity
Management
Minor Members
Membership By Birth
Registration
Rights
14.
Merits
Ease in Form and Dissolve
Secrecy
Limited Liability of Members
Protection of Minors
Continuity
Economic Security and Status to Members
Family Pride
Effective Control
15.
Demerits
Limited Capital
Unlimited Liability of Karta
Limited Managerial Skill
Karta Too Powerful
Dominance of Karta
No Match in Work and Reward
16. CASE STUDY ON ADITYA
BIRLA GROUP
ABOUT BIRLAS
ADITYA BIRLA GROUP STARTED AT 1857.
SHIV NARAYAN BIRLA STARTED COTTON
TRADING OPERATION IN THE SMALL
OF PILANI IN RAJASTHAN.
GHYANSHYAMDAS BIRLA (GD BIRLA)-1919-
he set the manufacturing company.
GRANDSON OF GD BIRLA IS ADITYA
VIKRAM(AV BIRLA)-1964-
SON OF AV BIRLA IS KUMAR MANGALAM(KM
18. Partnership is an association of
two or more persons who agree
to jointly pursue a business
activity. They pool their
managerial and financial
resources for the purpose.
23. Case Study of TATA
Motors
The Tata Motors group is based in India. The motor group was
established in 1945 as part of the larger Tata Group. They have
long been known for their commercial vehicles and in the past ten
years entered into the passenger car market. Currently, Tata
Motors has a line of five passenger vehicles and a large line of
commercial vehicles producing pickups, trucks, tractor trailers,
tippers, and buses. Both product lines of the Tata Motors group
have seen success, but much of this has been built up on the more
deeply established commercial vehicle product line.
24. A company is an
association of persons
formed for carrying out
business activities and
has a legal status
independent of its
members. The company
form of organisation is
governed by
THE COMPANIES
25. Artificial person
Separate legal
entity
Formation
Registration
Common Seal
Perpetual
Succession
Risk Bearing
26. Limited Liability
Interest
Existence
Management
Expansion
Social Responsibilities
Public Confidence