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Value Of Business Organization In Society

1617 words - 7 pages

STUDENT NAME: Phillip Emmanuel O

COURSE: BUS1010

ASSIGNMENT TITLE: The value of business organization creates society. Identify, summarize and discuss arguments against business.

INSTRUCTOR:

TABLE OF CONTENTS

1.0. Introduction
1.1. What is business?
1.2. Forms of business

2.0. Negative effect/impact of business.

3.0. Conclusion

4.0. References

1.0. Introduction

The role and impact of business organizations in any society can be aggrandized to be a major factor leading to the growth and development of economy in various countries across the globe. Business as a human activity has been able to assemble people, capital and innovation under controlled ...view middle of the document...

Whereas the profit made is the difference between the income received after selling the goods and services and the cost incurred in producing and selling those goods and services. In order to ensure a long-term business survival and job creation, every business organization must sustain or increase their profit by satisfying its different stakeholders including the customers, employee, owners, government and the society.

1.2. Forms of business

The different forms of business are categorized in order of members participating in the effective operation of such business, which includes the in number of people involved in the formation and also principles used to form and conduct that particular business. These forms of business includes sole proprietorship, partnership, private companies, public companies and corporative.

The sole proprietorship refers to a form of business that is operated by one individual who is the owner of the business. This type of business is considered as the foundation of development of any economy in the world because most of the big businesses existing today started with sole proprietorship and then developed from there on. Examples are kiosk, corner shops, and mini supermarkets, restaurants, etc.

Partnership form of business is done and operated by a minimum of two people and a maximum of twenty people. By law, if the owners exceed twenty then it will no longer be considered a partnership but another form of business. Example of partnership business is Nakumatt supermarket in Nairobi Kenya, the Spar Supermarket in Lagos Nigeria, etc.

Private companies are businesses that are owned by a minimum of twenty people and a maximum of fifty people. By law, the business owners or shareholders must be in the range of twenty to fifty only to form a private company. Example includes Shoprite Nigeria.

Public companies refer to a form of business that is owned by more than fifty individuals and the limit to there shareholders could be infinity. These companies can sell their shares at a cost to allow members of the society to invest in the company and acquire shares in the company. Examples of these companies includes Transcorp Nigeria, Dangote group Nigeria, etc.

Co-operative business organizations are made up of members who come together to conduct economic activities and to share proceeds equitability on the basis of co-operatives principles of which all co-operatives must adhere to; these are open membership, democratic administration, interest on capital, disposal of surplus, education and cooperation with other co-operatives. Relevant examples include the co-operative bank of Kenya.

2.0. Negative effect/impact of business.

There is no doubt business activities have contributed to the economic growth of any society or country, but some of these activities have negatively affected the society, environment and people whom their goods and services are intended and produced for. In most cases, the...

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