Accounting technicians scheme west africa
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| CHAPTER ONE NATURE OF BUSINESS SECTION A INTRODUCTION TO BUSINESS Section contents (a) Learning Objectives b) Introduction c) Definitions of Business d) Why the Need of Business e) The Resources of Business f) Objectives of Business g) Primary Objectives of Business h) The Secondary Objectives of a Business are i) Classification of Business j) Size Based Classification k) Use of Output Based Classification l) Input Based Classification m) Types of Ownership n) Industrial Classification o) Reasons for Business Failure p) Planning against Business Failure q) Importance of Profit in Business r) Requirements for Success in Modern Business s) Qualities of a Good Businessman t) Legal Forms of Business Ownership u) The Sole Proprietorship v) Features of Sole Proprietorship w) Advantages of Sole Proprietorship x) Disadvantages of Sole Proprietorship y) Partnership z) Features of Partnership (aa) Types of Partners (bb) Advantages of Partnership cc) Disadvantages of Partnership dd) Dissolution of Partnership (ee) Corporation or Limited Liability Company ff) Advantages of a Corporation (gg) Disadvantages of a Corporation (hh) Formation of a Limited Liability Company ii) Cooperative (jj) Characteristics of Cooperative Organisation (kk) Types of Cooperatives ll) Advantages of Cooperatives mm) Disadvantages 2 (nn) Stakeholders in Business and their Expectations (oo) Definition of Stakeholders pp) Internal Stakeholders (qq) External Stakeholders (rr) Expectation of Stakeholders (ss) Effects of Stakeholders Expectations Learning Objectives After studying this section, the reader should be able to • Define the term business • Explain the need for business • Explain the resources of business • Explain the objectives of business • Explain the classification of business • Explain the reasons for business failure • Explain the importance of profit in business • Explain the requirements for success in modern business • Explain the general qualities of a good businessman • Explain the legal forms of business ownership • Explain the business stakeholders, their expectations from business Download 3.37 Mb. Share with your friends:
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