Business Diagram

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CHAPTER 1 The Goals and Functions of Financial Management

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Forms and type of Business

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Forms and type of Business

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Types of Business and Forms of Business Ownership

Non-profit

Unicef

Red Cross

shareholders does not financially benefit

business that makes no profit

E-commerce

Amazon

Ebay

goods or services brought to the customers online

Merchandising

Shoppers Drug Mart

Walmart

purchase made goods then resells them

Manufacturing

Canada Goose

Levi's

could be sold straight to customers or sold to other businesses then resold

turns a raw material into a product

Service

Bell

Uber

provides services to client

Co-operative

Canadian University Press

Costco

a private business or organization

non-profit business type

a business controlled and owned by the members

Franchise

Krispy Kreme

Mcdonalds

a strategy to expand a business

rights to sell their products

individual entrepreneurship that uses a larger companies brand and logo

Corporation

Apple

Microsoft

business is legally separate from the shareholders

business controlled by board of directors

Partnership

Louis Vuitton and BMW

Spotify and Uber

members share legal responsibilities and profit

a business managed by two or more parties

Sole Proprietorship

Examples

small bakery

small art studio

Definition

owned and run by a person

one person is legally responsible for the business

an individual entrepreneurship