Types of business ownership Escape Room
Pete
Created on July 17, 2024
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Transcript
Start
Types of Business OwnershipEscape room
Joint Ventures
Co-operatives
Franchises
Corporations
Partnerships
Sole Proprietor
Complete the activity for each lesson and achieve UBO 2.1
Escape Education
a business that only repairs shoes
a business that only sells fish
a type of business structure where a single individual owns and operates the business.
A sole proprietorship is
Question 01/03
Lesson 01
a popular choice for small businesses and entrepreneurs
a very rare form of business type
expensive to set-up
Setting up a sole trader business is relatively easy and requires minimal paperwork, making it...
01
Question 02/03
always successful
01
usually over six feet tall
personally responsible for all the decisions and actions of the business.
With sole proprietors there is no legal distinction between the owner and the business, and the owner is...
Question 03/03
Continuing
Move on to the next lesson
Perfect, you have passed!
Joint Ventures
Co-operatives
Franchises
Corporations
Partnerships
Sole Proprietor
Complete the activity for each lesson and earn a fantastic diploma
Escape Education
Partner can not bring money and resources to the business
A Partnership would NOT be good for a law firm
Most partnerships are between two and twenty members
A Partnership CAN NOT have more than twenty partners
A partnership is a business where there are two or more owners of the enterprise and...
Question 01/03
Lesson 02
Partners do not have to agree on decisions
Any profits do not have to be shared
There is shared responsibility for debt by the owners
They can raise lots of money by selling shares
Advantages of a Partnership include:
Question 02/03
02
02
Partnerships automaticallly give unlimited liability
UK law say they must
Lawyers are lazy and want to share the work
These services need a wide range of knowledge
Partnerships are often found in businesses that provide a professional service, such as lawyers, doctors and accountancy practices because...
Question 03/03
Continuing
Move on to the next lesson
Excellent, you have passed!
Joint Ventures
Co-operatives
Franchises
Corporations
Partnerships
Sole Proprietor
Complete the activity for each lesson and get a fantastic diploma
Escape Education
False
True
Shareholders own a corporation and are not personally liable for any company debts or claims against the business: they are only liable for what they have personally invested.
Question 01/03
Lesson 03
03
False
True
Corporations are recognised as a separate legal entity from the owners.
Question 02/03
03
True
False
In the UK corporations are either Private Limited Companies (Ltd) or Public Limited Companies (plc)
Question 03/03
Continuing
Proceed to the next lesson
Great, you have passed!
Joint Ventures
Co-operatives
Franchises
Corporations
Partnerships
Sole Proprietor
Complete the activity for each lesson and earn a fantastic diploma
Escape Education
so it fails
as a favour
for free
to allow it trade using the brand / business model
Franchising arises when a franchisor grants a licence (franchise) to another business (franchisee)...
Question 01/03
Lesson 04
support from the franchisor
the model can be ignored
The Franchisee decides everything
It does not cost
The main advantages of setting up as a franchisee include:
Question 02/03
04
Manufacturing
French people
Service businesses
an unprofitable business
Franchising is particularly suitable for...
Question 03/03
04
Continuing
Advance to the next lesson
Perfect, you have passed!
Joint Ventures
Co-operatives
Franchises
Corporations
Partnerships
Sole Proprietor
Complete the activity for each lesson and get a fantastic diploma
Escape Education
Incorrect
Customers
Other businesses
Employees
Correct
Incorrect
Co-ops are owned and run by their members, who can be ...
Question 01/03
Lesson 05
Suma
John Lewis
Arla Foods
05
Incorrect
Incorrect
Correct
Examples of Co-operatives include...
Question 02/03
05
Voice
Ownership
Profits
Correct
Incorrect
Incorrect
Co-operative businesses are run on principles of shared...
Question 03/03
Continuing
Move on to the next lesson
Perfect, you have passed!
Joint Ventures
Co-operatives
Franchises
Corporations
Partnerships
Sole Proprietor
Complete the activity for each lesson and earn a fantastic diploma
Escape Education
Some carpenters make a table
a separate business entity is created by two or more parties, involving shared ownership, returns and risks
A joint venture (JV) is a business arrangement in which ...
Question 01/03
Lesson 06
06
...conflict of interest
...each other's expertise and resources
JV partners benefit from...
Question 02/03
06
...reduces the risk of a growth strategy
...usually fails
...only happens in service industries
...just makes wooden products
A joint venture (JV) business...
Question 03/03
You have completed all the lessons, we have finished
Great!
Perfect, you have passed!
Great!You have passed all the lessons.Now, write up your evidence!
Let's go!
Escape Education
Well done!Now, make sure you complete the AC 2.1 Task Sheet
UBO AC 2.1
Congratulations!
Calderdale College
Back
Try again, come on!
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