Business Organisation

Business Organisation is an entity formed for the purpose of carrying on commercial enterprise that describes how businesses are structured and how to produce goods or services and meet needs of the customers. The Business Organisation aims to focus on either generating profit (for profit organisation) or improving society (not for profit). There are 3 main types of business organisation: Individual Proprietorships (owned and run by one person), Partnership (owned and run by two or more individuals – general or limited), Corporation or Limited Liability Company (LLC) (owners’ liability is distributed to the shareholders as dividends).

Company is a voluntary association formed and organised for the commercial business that sells goods or service in order to make profit. In general, the Company is owned by the members whereas a corporation is owned by shareholders.

Corporation is a company or group of companies to be controlled as a single organisation or entity which is carrying out business activities. The Corporation is recognised by law and a legal existence to have an authority of the business as a single business organisation (legally a person) that is owned by the shareholders (or stockholders) who share in profits and losses generated through the business operation. The Corporation has a limited liability separated by individuals who involved as shared dividends.

Enterprise is an organisation for a business or company who is carrying out business activities for the profit generations. The Enterprise manages and controls all necessary functions to provide goods and services involving directly or indirectly industrial financial and commercial aspects. Enterprise types are: Individual Proprietorships (owned and run by one person); Partnership (owned and run by two or more individuals – general or limited); Corporation or Limited Liability Company (LLC) (owners’ liability is distributed to the shareholders as dividends); Professional Company/Professional Limited Liability Company (PC/PLLC) as well as a non-profit institution, or an unincorporated enterprise.

Organisation (Organization) is a team or group of people who works together for the shared purpose of administering and managing business, social, political, and other activities, such as a government department, business, or project. The Organisation Structure is a framework to define the roles and responsibilities, work flow, reporting system, and decision making. There are two types of an organisation: a permanent and task force organisation.