This document discusses different types of business organizations. It describes sole proprietorships, partnerships, joint stock companies, cooperative societies, joint Hindu family businesses, and forms of public sector organizations like departmental undertakings, public corporations, and government companies. For each type of organization, it covers features, merits, limitations, and examples. The key types of organizations covered are sole proprietorships, partnerships, joint stock companies, and cooperative societies.
This document discusses different forms of business organizations. It describes sole proprietorships, partnerships, joint Hindu family businesses, private limited companies, public limited companies, cooperative societies, and public sector enterprises. For each type of organization, it provides definitions, key characteristics, advantages and disadvantages. It also discusses factors to consider when choosing an organizational form and includes sections on partnership deeds and different forms of public sector organizations.
The document provides an overview of business basics and forms. It defines business as an enterprise that provides goods/services for profit. The key forms discussed are sole proprietorship, partnership, joint Hindu family business, and joint stock company. A sole proprietorship is a one-person business with unlimited liability. A partnership involves two or more people sharing profits/losses, with unlimited liability. A joint Hindu family business is governed by Hindu law and has a manager called a Karta. A joint stock company is owned jointly by shareholders through shares that are transferable.
This document provides information on different forms of business organizations in India. It discusses sole proprietorship, joint Hindu family business, partnership, cooperative society, and joint stock company. For each type of organization, it outlines their key characteristics, advantages, and disadvantages. The document aims to increase awareness of various business structures in the private and public sectors in India.
This document provides information on different forms of business organizations in India. It discusses sole proprietorship, joint Hindu family business, partnership, cooperative society and joint stock company. For each type of organization, it outlines their key characteristics, advantages and disadvantages. Sole proprietorship is owned by a single person and has unlimited liability but easy formation. Partnership has more than one owner but also unlimited liability. Cooperative society is formed for mutual benefit rather than profit. A joint stock company has the largest scale of operations but more legal compliance requirements.
This document discusses different forms of business organizations, including sole proprietorship, joint Hindu family business, partnership, cooperative society, and joint stock company. It provides details on the characteristics, advantages, and disadvantages of sole proprietorship businesses. Key points include that a sole proprietorship is owned and managed by one individual, who has unlimited liability but also full control over the business. Advantages include easy formation and quick decision making, while disadvantages include limited capital and risk of losses.
A firm combines factors of production like men, materials and machines to produce and sell goods or services for profit. The type of business organization depends on factors like size, capital needs, market competition and government regulations. Common types of organizations include private enterprises like sole proprietorships, partnerships, private limited and public limited companies, cooperative enterprises, and public sector enterprises like government departments and statutory corporations.
This document discusses different forms of business organization including sole proprietorship, partnership, and joint stock companies. It provides details on their key characteristics, features, advantages, and disadvantages. The forms of business organization covered are based on ownership, liability, public interest, and controlling interest. The document also describes the process of incorporating a joint stock company including obtaining certificates of incorporation and commencement of business.
This document provides an overview of laws governing business organizations in Indonesia. It discusses the main types of business entities recognized in Indonesia, including sole proprietorships, partnerships, corporations, and joint ventures. For each type of business entity, the document outlines how they are formed, governed, and their basic legal characteristics such as limited liability and ownership. It also discusses the process for setting up a business and company in Indonesia, as well as relevant regulations regarding foreign ownership of Indonesian businesses.
This document discusses different forms of business organizations. It describes sole proprietorships, partnerships, joint Hindu family businesses, private limited companies, public limited companies, cooperative societies, and public sector enterprises. For each type of organization, it provides definitions, key characteristics, advantages and disadvantages. It also discusses factors to consider when choosing an organizational form and includes sections on partnership deeds and different forms of public sector organizations.
The document provides an overview of business basics and forms. It defines business as an enterprise that provides goods/services for profit. The key forms discussed are sole proprietorship, partnership, joint Hindu family business, and joint stock company. A sole proprietorship is a one-person business with unlimited liability. A partnership involves two or more people sharing profits/losses, with unlimited liability. A joint Hindu family business is governed by Hindu law and has a manager called a Karta. A joint stock company is owned jointly by shareholders through shares that are transferable.
This document provides information on different forms of business organizations in India. It discusses sole proprietorship, joint Hindu family business, partnership, cooperative society, and joint stock company. For each type of organization, it outlines their key characteristics, advantages, and disadvantages. The document aims to increase awareness of various business structures in the private and public sectors in India.
This document provides information on different forms of business organizations in India. It discusses sole proprietorship, joint Hindu family business, partnership, cooperative society and joint stock company. For each type of organization, it outlines their key characteristics, advantages and disadvantages. Sole proprietorship is owned by a single person and has unlimited liability but easy formation. Partnership has more than one owner but also unlimited liability. Cooperative society is formed for mutual benefit rather than profit. A joint stock company has the largest scale of operations but more legal compliance requirements.
This document discusses different forms of business organizations, including sole proprietorship, joint Hindu family business, partnership, cooperative society, and joint stock company. It provides details on the characteristics, advantages, and disadvantages of sole proprietorship businesses. Key points include that a sole proprietorship is owned and managed by one individual, who has unlimited liability but also full control over the business. Advantages include easy formation and quick decision making, while disadvantages include limited capital and risk of losses.
A firm combines factors of production like men, materials and machines to produce and sell goods or services for profit. The type of business organization depends on factors like size, capital needs, market competition and government regulations. Common types of organizations include private enterprises like sole proprietorships, partnerships, private limited and public limited companies, cooperative enterprises, and public sector enterprises like government departments and statutory corporations.
This document discusses different forms of business organization including sole proprietorship, partnership, and joint stock companies. It provides details on their key characteristics, features, advantages, and disadvantages. The forms of business organization covered are based on ownership, liability, public interest, and controlling interest. The document also describes the process of incorporating a joint stock company including obtaining certificates of incorporation and commencement of business.
This document provides an overview of laws governing business organizations in Indonesia. It discusses the main types of business entities recognized in Indonesia, including sole proprietorships, partnerships, corporations, and joint ventures. For each type of business entity, the document outlines how they are formed, governed, and their basic legal characteristics such as limited liability and ownership. It also discusses the process for setting up a business and company in Indonesia, as well as relevant regulations regarding foreign ownership of Indonesian businesses.
Biotechnology for Entrepreneurship Business ownership.pptDrkalaivani2
The document discusses different types of business ownership and organization. It describes sole proprietorships, partnerships, and corporations as the three main types of business organization. Sole proprietorships are owned by one person who has unlimited liability, while partnerships are owned by two or more people who share risks and rewards. Corporations are registered with a state and provide owners limited liability. Cooperatives are organizations owned and operated by their members, while nonprofits focus on service over profits. Franchises allow businesses to use another company's brand in a specific area under contractual agreement.
Bba 1 ibo u 2.1 co. act, incorporation, moa, aoa, prospectusRai University
The document provides information on the Introduction to Business Organization subject for BBA I. It defines a company as an association of persons who contribute money or resources to a common stock to employ in a trade or business, sharing the profits or losses. A company is a separate legal entity, has perpetual existence, and members have limited liability. It also discusses the different types of companies like private and public companies, their key differences, and the process of incorporating a new company which requires documents like memorandum and articles of association, payment of registration fees, and statutory declaration. Promoters are defined as persons who undertake primary responsibility for promoting a company. The memorandum of association lays out the fundamental rules regarding the company's constitution and defines and confines
This document outlines different types of business organizations and their legal structures. It discusses sole proprietorships, partnerships, corporations, and different types of companies. It describes key aspects of companies like their constitution, directors, disclosure requirements, and corporate governance. The legal forms of organization each have different ownership structures and liabilities. Companies must have memorandums and articles of association, and are governed by boards of directors.
There are three main types of business organizations: sole proprietorships, partnerships, and corporations. A sole proprietorship is a business owned and run by one individual. A partnership is when two or more individuals come together to run a business and share profits and losses. A corporation is a legal entity that is separate from its owners, allowing it to raise capital from shareholders.
The document discusses different forms of business organizations including proprietorship, partnership, and corporation. It provides details on the characteristics, advantages, and disadvantages of each organizational form. For proprietorships, it highlights features like single ownership, unlimited liability, and less legal formalities. For partnerships, it describes profit/loss sharing, mutual agency between partners, and lack of continuity. For corporations, it outlines characteristics like separate legal entity status, limited liability, and transferable ownership.
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.
A joint stock company is a voluntary association of individuals having a capital divided into transferable shares. It is an artificial legal entity separate from its members, with perpetual existence. A company's members have limited liability and can transfer their shares freely. It takes a large number of members and capital to operate on a large scale and undertake complex operations, which allows for professional management, efficiency, and social benefits like employment and development. However, companies also face limitations like difficulty forming, potential for control by groups, speculation, and delays in decision making.
Forms of entrepreneurial establishments in indiaDebidutta
This document discusses the four main forms of entrepreneurial establishments in India: sole proprietorships, partnerships, cooperatives, and companies. It provides details on the key features, types, merits and limitations of each form. Sole proprietorships are owned and controlled by a single individual, while partnerships involve two or more individuals who agree to share profits. Cooperatives are voluntary associations that promote members' economic interests. Companies are legal entities where ownership is shared by members through shares.
This document discusses different forms of business organizations including sole proprietorship, joint Hindu family business, partnership, joint stock company, cooperative societies, holding and subsidiary companies, and international organizations. It provides details on the key features, advantages, and disadvantages of each form. Sole proprietorship is owned by an individual, while partnership involves two or more owners. A joint stock company has a separate legal identity from its owners. Cooperative societies are formed by individuals with common interests.
Types of Companies under Company Ordinance 1984Saad Mazhar
The document discusses different types of companies under corporate law. It defines statutory companies as those formed under special statutes and governed by relevant Acts. Chartered companies are formed by royal charter granting special rights. Government companies have at least 51% capital held by the government. Registered companies include companies limited by shares, guarantee, or unlimited liability. Private limited companies restrict member and share transfer rights while public companies do not. Listed companies have shares traded on stock exchanges.
This document provides an overview of company law and secretarial practice in India. It defines a company and outlines its key characteristics such as separate legal identity, limited liability, transferable shares, and perpetual existence. It then classifies companies based on liability, members, control/holding, and other categories. The document also discusses company promotion, registration procedures, memorandum and articles of association, and the differences between private and public limited companies.
This document discusses different forms of business organization in India. It begins with an acknowledgement and introduction. It then discusses the key forms of business organization including sole proprietorship, partnership, joint Hindu family business, cooperative societies, and joint stock companies. For each form, it provides an overview and highlights some of their key advantages and disadvantages. The document serves as a guide to the different options for organizing a business in India.
Sole proprietorship refers to a business owned and controlled exclusively by one person. An example is provided of Gopal running a grocery shop as a sole proprietorship. Key characteristics include single ownership, unlimited liability of the proprietor, and no separation of ownership and management. Advantages include easy formation and flexibility, while disadvantages include limited resources and lack of continuity upon the proprietor's death. Sole proprietorships are best suited for small, localized businesses requiring minimal capital.
Partnership refers to an association of two or more persons who pool resources to carry on business jointly. An example is provided of Gopal partnering with Rahim to open a grocery store. Key characteristics include shared profits/losses,
This document discusses different types of business organizations: sole proprietorships, partnerships, corporations, and cooperatives. A sole proprietorship is owned by one person and ends when the owner dies. A partnership involves two or more people sharing ownership and profits/losses. A corporation has 5+ owners whose ownership is divided into shares of stock. Cooperatives are owned and controlled by members to meet their economic and social needs through a jointly-owned business.
The document discusses different forms of business organizations including sole proprietorship, partnership, joint stock company, cooperative society, and government sector. It provides details on their characteristics, advantages, disadvantages, types and examples. Sole proprietorship is owned and controlled by one individual while partnership consists of two or more individuals. A joint stock company is formed by registering under the Companies Act and has shareholders with limited liability. A cooperative society is formed voluntarily for economic or social goals. Public sector enterprises are owned and managed by the government.
Types of various business Organizations, includes Sole Proprietor, Partnership, Societies, Joint Stock Companies, Hindu Undivided Family Business in India
This document discusses different types of business organizations including sole proprietorship, partnership, and limited liability partnership (LLP). It describes the key features of sole proprietorship where one individual owns and manages the business and bears all risks and profits. Partnerships involve two or more individuals jointly owning and managing the business where profits and risks are shared. LLPs provide limited liability to partners similar to a corporation but partners can directly manage the business. The document outlines the merits, limitations, types of partners, and registration process for partnerships.
Companies Act 2013 presentation of it .pdfvallamdas007
This document provides an overview of companies under the Companies Act 2013 in India. It defines a company and outlines key features such as being an incorporated association, having separate legal identity, limited liability for members, transferable shares, perpetual existence, and use of a common seal. It also classifies companies based on liability, access to capital, shareholding, control, and number of members. The important stages in company formation are outlined as promotion, registration, obtaining a certificate of incorporation, and commencing business.
This document discusses different forms of business organizations including sole proprietorship, partnership, joint Hindu family firm, joint stock company, and cooperative society. It provides details on their characteristics such as ownership, management, liability, advantages, and disadvantages. The key points are:
- Sole proprietorship is owned and managed by one person who bears all risks and profits. There is no separate legal identity.
- Partnership involves two or more persons sharing profits under an agreement with unlimited liability.
- Joint Hindu family firm is owned by members of an undivided Hindu family under the management of a Karta.
- Joint stock company has a separate legal identity with shareholders having limited liability and transferable
Batteries -Introduction – Types of Batteries – discharging and charging of battery - characteristics of battery –battery rating- various tests on battery- – Primary battery: silver button cell- Secondary battery :Ni-Cd battery-modern battery: lithium ion battery-maintenance of batteries-choices of batteries for electric vehicle applications.
Fuel Cells: Introduction- importance and classification of fuel cells - description, principle, components, applications of fuel cells: H2-O2 fuel cell, alkaline fuel cell, molten carbonate fuel cell and direct methanol fuel cells.
Biotechnology for Entrepreneurship Business ownership.pptDrkalaivani2
The document discusses different types of business ownership and organization. It describes sole proprietorships, partnerships, and corporations as the three main types of business organization. Sole proprietorships are owned by one person who has unlimited liability, while partnerships are owned by two or more people who share risks and rewards. Corporations are registered with a state and provide owners limited liability. Cooperatives are organizations owned and operated by their members, while nonprofits focus on service over profits. Franchises allow businesses to use another company's brand in a specific area under contractual agreement.
Bba 1 ibo u 2.1 co. act, incorporation, moa, aoa, prospectusRai University
The document provides information on the Introduction to Business Organization subject for BBA I. It defines a company as an association of persons who contribute money or resources to a common stock to employ in a trade or business, sharing the profits or losses. A company is a separate legal entity, has perpetual existence, and members have limited liability. It also discusses the different types of companies like private and public companies, their key differences, and the process of incorporating a new company which requires documents like memorandum and articles of association, payment of registration fees, and statutory declaration. Promoters are defined as persons who undertake primary responsibility for promoting a company. The memorandum of association lays out the fundamental rules regarding the company's constitution and defines and confines
This document outlines different types of business organizations and their legal structures. It discusses sole proprietorships, partnerships, corporations, and different types of companies. It describes key aspects of companies like their constitution, directors, disclosure requirements, and corporate governance. The legal forms of organization each have different ownership structures and liabilities. Companies must have memorandums and articles of association, and are governed by boards of directors.
There are three main types of business organizations: sole proprietorships, partnerships, and corporations. A sole proprietorship is a business owned and run by one individual. A partnership is when two or more individuals come together to run a business and share profits and losses. A corporation is a legal entity that is separate from its owners, allowing it to raise capital from shareholders.
The document discusses different forms of business organizations including proprietorship, partnership, and corporation. It provides details on the characteristics, advantages, and disadvantages of each organizational form. For proprietorships, it highlights features like single ownership, unlimited liability, and less legal formalities. For partnerships, it describes profit/loss sharing, mutual agency between partners, and lack of continuity. For corporations, it outlines characteristics like separate legal entity status, limited liability, and transferable ownership.
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.
A joint stock company is a voluntary association of individuals having a capital divided into transferable shares. It is an artificial legal entity separate from its members, with perpetual existence. A company's members have limited liability and can transfer their shares freely. It takes a large number of members and capital to operate on a large scale and undertake complex operations, which allows for professional management, efficiency, and social benefits like employment and development. However, companies also face limitations like difficulty forming, potential for control by groups, speculation, and delays in decision making.
Forms of entrepreneurial establishments in indiaDebidutta
This document discusses the four main forms of entrepreneurial establishments in India: sole proprietorships, partnerships, cooperatives, and companies. It provides details on the key features, types, merits and limitations of each form. Sole proprietorships are owned and controlled by a single individual, while partnerships involve two or more individuals who agree to share profits. Cooperatives are voluntary associations that promote members' economic interests. Companies are legal entities where ownership is shared by members through shares.
This document discusses different forms of business organizations including sole proprietorship, joint Hindu family business, partnership, joint stock company, cooperative societies, holding and subsidiary companies, and international organizations. It provides details on the key features, advantages, and disadvantages of each form. Sole proprietorship is owned by an individual, while partnership involves two or more owners. A joint stock company has a separate legal identity from its owners. Cooperative societies are formed by individuals with common interests.
Types of Companies under Company Ordinance 1984Saad Mazhar
The document discusses different types of companies under corporate law. It defines statutory companies as those formed under special statutes and governed by relevant Acts. Chartered companies are formed by royal charter granting special rights. Government companies have at least 51% capital held by the government. Registered companies include companies limited by shares, guarantee, or unlimited liability. Private limited companies restrict member and share transfer rights while public companies do not. Listed companies have shares traded on stock exchanges.
This document provides an overview of company law and secretarial practice in India. It defines a company and outlines its key characteristics such as separate legal identity, limited liability, transferable shares, and perpetual existence. It then classifies companies based on liability, members, control/holding, and other categories. The document also discusses company promotion, registration procedures, memorandum and articles of association, and the differences between private and public limited companies.
This document discusses different forms of business organization in India. It begins with an acknowledgement and introduction. It then discusses the key forms of business organization including sole proprietorship, partnership, joint Hindu family business, cooperative societies, and joint stock companies. For each form, it provides an overview and highlights some of their key advantages and disadvantages. The document serves as a guide to the different options for organizing a business in India.
Sole proprietorship refers to a business owned and controlled exclusively by one person. An example is provided of Gopal running a grocery shop as a sole proprietorship. Key characteristics include single ownership, unlimited liability of the proprietor, and no separation of ownership and management. Advantages include easy formation and flexibility, while disadvantages include limited resources and lack of continuity upon the proprietor's death. Sole proprietorships are best suited for small, localized businesses requiring minimal capital.
Partnership refers to an association of two or more persons who pool resources to carry on business jointly. An example is provided of Gopal partnering with Rahim to open a grocery store. Key characteristics include shared profits/losses,
This document discusses different types of business organizations: sole proprietorships, partnerships, corporations, and cooperatives. A sole proprietorship is owned by one person and ends when the owner dies. A partnership involves two or more people sharing ownership and profits/losses. A corporation has 5+ owners whose ownership is divided into shares of stock. Cooperatives are owned and controlled by members to meet their economic and social needs through a jointly-owned business.
The document discusses different forms of business organizations including sole proprietorship, partnership, joint stock company, cooperative society, and government sector. It provides details on their characteristics, advantages, disadvantages, types and examples. Sole proprietorship is owned and controlled by one individual while partnership consists of two or more individuals. A joint stock company is formed by registering under the Companies Act and has shareholders with limited liability. A cooperative society is formed voluntarily for economic or social goals. Public sector enterprises are owned and managed by the government.
Types of various business Organizations, includes Sole Proprietor, Partnership, Societies, Joint Stock Companies, Hindu Undivided Family Business in India
This document discusses different types of business organizations including sole proprietorship, partnership, and limited liability partnership (LLP). It describes the key features of sole proprietorship where one individual owns and manages the business and bears all risks and profits. Partnerships involve two or more individuals jointly owning and managing the business where profits and risks are shared. LLPs provide limited liability to partners similar to a corporation but partners can directly manage the business. The document outlines the merits, limitations, types of partners, and registration process for partnerships.
Companies Act 2013 presentation of it .pdfvallamdas007
This document provides an overview of companies under the Companies Act 2013 in India. It defines a company and outlines key features such as being an incorporated association, having separate legal identity, limited liability for members, transferable shares, perpetual existence, and use of a common seal. It also classifies companies based on liability, access to capital, shareholding, control, and number of members. The important stages in company formation are outlined as promotion, registration, obtaining a certificate of incorporation, and commencing business.
This document discusses different forms of business organizations including sole proprietorship, partnership, joint Hindu family firm, joint stock company, and cooperative society. It provides details on their characteristics such as ownership, management, liability, advantages, and disadvantages. The key points are:
- Sole proprietorship is owned and managed by one person who bears all risks and profits. There is no separate legal identity.
- Partnership involves two or more persons sharing profits under an agreement with unlimited liability.
- Joint Hindu family firm is owned by members of an undivided Hindu family under the management of a Karta.
- Joint stock company has a separate legal identity with shareholders having limited liability and transferable
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Discover the latest insights on Data Driven Maintenance with our comprehensive webinar presentation. Learn about traditional maintenance challenges, the right approach to utilizing data, and the benefits of adopting a Data Driven Maintenance strategy. Explore real-world examples, industry best practices, and innovative solutions like FMECA and the D3M model. This presentation, led by expert Jules Oudmans, is essential for asset owners looking to optimize their maintenance processes and leverage digital technologies for improved efficiency and performance. Download now to stay ahead in the evolving maintenance landscape.
Rainfall intensity duration frequency curve statistical analysis and modeling...bijceesjournal
Using data from 41 years in Patna’ India’ the study’s goal is to analyze the trends of how often it rains on a weekly, seasonal, and annual basis (1981−2020). First, utilizing the intensity-duration-frequency (IDF) curve and the relationship by statistically analyzing rainfall’ the historical rainfall data set for Patna’ India’ during a 41 year period (1981−2020), was evaluated for its quality. Changes in the hydrologic cycle as a result of increased greenhouse gas emissions are expected to induce variations in the intensity, length, and frequency of precipitation events. One strategy to lessen vulnerability is to quantify probable changes and adapt to them. Techniques such as log-normal, normal, and Gumbel are used (EV-I). Distributions were created with durations of 1, 2, 3, 6, and 24 h and return times of 2, 5, 10, 25, and 100 years. There were also mathematical correlations discovered between rainfall and recurrence interval.
Findings: Based on findings, the Gumbel approach produced the highest intensity values, whereas the other approaches produced values that were close to each other. The data indicates that 461.9 mm of rain fell during the monsoon season’s 301st week. However, it was found that the 29th week had the greatest average rainfall, 92.6 mm. With 952.6 mm on average, the monsoon season saw the highest rainfall. Calculations revealed that the yearly rainfall averaged 1171.1 mm. Using Weibull’s method, the study was subsequently expanded to examine rainfall distribution at different recurrence intervals of 2, 5, 10, and 25 years. Rainfall and recurrence interval mathematical correlations were also developed. Further regression analysis revealed that short wave irrigation, wind direction, wind speed, pressure, relative humidity, and temperature all had a substantial influence on rainfall.
Originality and value: The results of the rainfall IDF curves can provide useful information to policymakers in making appropriate decisions in managing and minimizing floods in the study area.
Embedded machine learning-based road conditions and driving behavior monitoringIJECEIAES
Car accident rates have increased in recent years, resulting in losses in human lives, properties, and other financial costs. An embedded machine learning-based system is developed to address this critical issue. The system can monitor road conditions, detect driving patterns, and identify aggressive driving behaviors. The system is based on neural networks trained on a comprehensive dataset of driving events, driving styles, and road conditions. The system effectively detects potential risks and helps mitigate the frequency and impact of accidents. The primary goal is to ensure the safety of drivers and vehicles. Collecting data involved gathering information on three key road events: normal street and normal drive, speed bumps, circular yellow speed bumps, and three aggressive driving actions: sudden start, sudden stop, and sudden entry. The gathered data is processed and analyzed using a machine learning system designed for limited power and memory devices. The developed system resulted in 91.9% accuracy, 93.6% precision, and 92% recall. The achieved inference time on an Arduino Nano 33 BLE Sense with a 32-bit CPU running at 64 MHz is 34 ms and requires 2.6 kB peak RAM and 139.9 kB program flash memory, making it suitable for resource-constrained embedded systems.
2. Introduction
An organization, or organisation, is an entity—such as a company, an institution, or an
association—comprising one or more people and having a particular purpose.
Business organization refers to all legal and mandatory arrangements required to
conduct a business.
It also refers to all those steps that need to be undertaken for establishing relationship
between men, material, and machine to carry business efficiently with the intention of
earning profit.
The arrangement which follows this process of organizing is called a business
undertaking or organization.
3. Characteristics of Business organization
Ownership
Lawful Business
Separate Entity and Management
Continuity
Risk
4. Forms of Business Organization:
Sole Proprietorship
Partnership
Joint Stock Company
Co-Operative Society
Joint Hindu Family Business
Government Company (Public Corporations)
5. Sole Proprietorship
Sole proprietorship refers to a form of business organisation
which is owned, managed and controlled by an individual
who is the recipient of all profits and bearer of all risks.
This is evident from the term itself. The word “sole” implies
“only”, and “proprietor” refers to “owner”. Hence, a sole
proprietor is the one who is the only owner of a business.
Sole proprietorship is a popular form of business organisation
and is the most suitable form for small businesses, especially
in their initial years of operation.
6. Sole Proprietorship
Features
1. Formation and closure
2. Liability
3. Sole risk bearer and profit recipient
4. Control
5. No separate entity
6. Lack of business continuity
9. Partnership
The inherent disadvantage of the sole proprietorship in
financing and managing an expanding business paved the
way for partnership as a viable option.
The Indian Partnership Act, 1932 defines partnership as “the
relation between persons who have agreed to share the profit
of the business carried on by all or any one of them acting for
all.”
Partnership serves as an answer to the needs of greater
capital investment, varied skills and sharing of risks
13. Types of Partners
Active partner
Sleeping or dormant partner
Secret partner
Nominal partner
Partner by estoppel
Partner by holding out
Minor Partner
14. Joint Stock Company
A joint stock company form of business organization is a
voluntary association of persons to carry on business.
It is given a legal status and is subject to certain legal
regulations.
It is an association of persons who generally contribute
money for some common purpose.
The proportion of capital to which each member is entitled is
called his share, therefore members of joint stock company
are known as shareholders and the capital of the company is
known as share capital.
15. Joint Stock Company
The total share capital is divided into a number of units known
as ‘shares’.
The companies are governed by the Indian Companies Act,
1956.
The act defines a company as an artificial person created by
law, having a separate entity, with perpetual succession, and a
common seal.
Basic legal documents:
Memorandum of Association
Article of Association
16. Joint Stock Company
Features
Artificial person
Separate legal entity
Formation
Perpetual succession
Control
Liability
Common seal
Risk bearing
17. Joint Stock Company
Merits/Advantages
Limited liability
Transfer of interest
Perpetual existence
Scope for expansion
Professional management
18. Joint Stock Company
Demerits/Limitations
Complexity in formation
Lack of secrecy
Impersonal work environment
Numerous regulations
Delay in decision making
Conflict in interests
19. Co-Operative Society
Any ten person can form a Co-Operative society.
It function under the Co-operative Societies Act , 1912 and other State Co-
operative Societies Acts.
It is totally different than all other form of business discussed above in
terms of its objective.
They are primarily formed to render service to its members.
Its also provides some services to the society. The main objective of Co-
Operative Societies are:
Rendering the service rather than earning profit
Mutual help instead of competition
Self help in place of dependence
21. Co-Operative Society
Merits/Advantages
Equality in voting status
Limited liability
Stable existence
Economy in operations
Support from government
Ease of formation
24. Joint Hindu Family Business
The JHF business is a form of business organization found only in India.
In this form of business, all the members of a Hindu undivided family own
the business jointly.
The affairs of business are managed by the head of the family, who is
known as the ‘KARTA’.
A Joint Hindu Family business only the male members get a share in the
business by virtue of there being part of the family.
The membership is limited up to three successive generations.
Thus an individual, his son(s), and his grandson(s) become the members of
a Joint Hindu Family by birth.
It is governed by the Hindu Succession Act, 1956
25. Joint Hindu Family Business
Features
Formation
Liability
Control
Continuity
Minor Members
26. Joint Hindu Family Business
Merits/Advantages
Effective control
Continued business existence
Limited liability of members
Increased loyalty and cooperation
27. Joint Hindu Family Business
Demerits/Limitations
Limited resources
Unlimited liability of karta
Dominance of karta
Limited managerial skills
28. Forms of Public Sector Organisations
Departmental Organisation /Undertaking
Public Corporations /Statutory Corporations
Government Companies
29. Departmental Organisation /Undertaking
This is the oldest and most traditional form of organising public
enterprises. These enterprises are established as departments of the
ministry and are considered part or an extension of the ministry itself.
The Government functions through these departments and the activities
performed by them are an integral part of the functioning of the
government.
These undertakings may be under the central or the state government and
the rules of central/state government are applicable.
Examples of these undertakings are railways and post and telegraph
department.
32. Departmental Organisation /Undertaking
Demerits/Limitations
Flexibility
Delay in Decision Making
Unable to grab Opportunities
Red-Tapism
Political Interference
33. Public Corporations /Statutory
Corporations
Statutory corporations are public enterprises brought into existence by a
Special Act of the Parliament. The Act defines its powers and functions,
rules and regulations governing its employees and its relationship with
government departments.
This is a corporate body created by the legislature with defined powers
and functions and is financially independent with a clear control over a
specified area or a particular type of commercial activity.
It is a corporate person and has the capacity of acting in its own name.
Example:- LIC, RBI, FCI, etc.
34. Public Corporations /Statutory
Corporations
Features
Formation under Act of Parliament
Wholly owned by State
Separate identity
Independently Financed
Accounting/Auditing
Employees are not Government Servant
36. Public Corporations /Statutory
Corporations
Demerits/Limitations
Limited Operational Flexibility
Government interference in Major Decision
Corruption
Government Advisors in Corporation Board
37. Government Companies
A government company is established under The Companies Act, 2013
and is registered and governed by the provisions of The Act.
According to Indian Companies Act, 2013, a government company means
“any company in which not less than 51% of paid capital is held by the
central or state government and partly by the central government and
includes a company which is a subsidiary of a government company”.
A government company may be formed as a private limited company or a
public limited company.
These are established for purely business purposes and in true spirit
compete with companies in the private sector.
Example:-SAIL, BHEL, Hindustan Steel Ltd, etc.
38. Government Companies
Features
Formation
Separate Entity
Management
Employees
Own MOA and AOA
Accounting and Auditing
Funding