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Published byMaximillian McKinney Modified over 8 years ago
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Types of Businesses
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What is Business? All the activities involved in producing and marketing goods and services Ex. Kroger, Ford
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TYPES OF BUSINESSES LARGE VS. DOMESTIC VS. PROFIT VS. PUBLIC VS. GOODS VS. SMALL GLOBAL NONPROFIT PRIVATE SERVICES
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LARGE VS. SMALL LARGE - Over 100 employees - Have many different departments - Ex. Richs, Macys, Ford, Chevrolet, Kmart, Wal-Mart SMALL - Less than 100 employees - Small budgets and staffs - 95% of U.S. business - Ex. Florists, gift shops, “Mom & Pop” stores
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DOMESTIC VS. GLOBAL DOMESTIC - Buyers in single country - Businesses who stay only domestic face losing business - **Zaxby’s GLOBAL - Exchange among nations - Internet makes this easy - **McDonalds
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PROFIT VS. NONPROFIT PROFIT - Earn a profit for the business they conduct - Biggest reason people start businesses - Ex. Microsoft: $12 billion in 2000 NONPROFIT - Still hire employees and pay expenses - All $$ left after expenses goes to charity - Ex. Boys/Girls Club, American Red Cross
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PUBLIC VS. PRIVATE PUBLIC - Operate as businesses do but do not intend to make $$ - Ex. Government agencies such as public schools and libraries PRIVATE - All businesses not associated with government agencies
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GOODS VS. SERVICES GOODS - Businesses that sell goods - Cars, food, clothing - Ex. Gap, Publix SERVICES - Businesses that provides services - Dry Cleaning, Car Repair - Ex. Maaco, Hangers Dry Cleaning
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CAN YOU FIGURE THESE OUT? 1) FORD Large or Small 2) LARRY’S EASY PAY Domestic or Global 3) AMERICAN CANCER SOCIETY Profit or NonProfit 4) WINDER-BARROW HIGH SCHOOL Public or Private 5) TEXACO Goods or Services
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The different types of businesses are… LARGESMALL DOMESTICGLOBAL PROFITNON-PROFIT PUBLICPRIVATE GOODS SERVICES
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Types of Business Ownership Sole Proprietorship-owned by one person (76% of all businesses in U.S.) Partnerships –General Partner –Limited Partner-liable up to investment Corporations –C-corporation (corporation/shareholders pay taxes –S-corporation (taxed like a partnership-profits taxed at personal tax rate) –LLC- simpler than a corp. protects owners from liability suits See pg., 143 for comparisons
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THE END!!!!
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