It entails making
decisions in the
present regarding
future goals &
strategies for
achieving them.
PLANNING
Process of
combining &
integrating
human, physical, &
financial resources
in productive
interrelationships in
order to achieve
company objectives
ORGANIZING
Process of
establishing
relationships
between various
sectors of an
organization so that
they all pull in the
same direction
COORDINATION
Performance
evaluation against
predetermined
objectives.
* Identifying
departures from
these objectives.
* Corrective action
CONTROLLING
Ultimate source of
authority.. It sets the
company’s goal,
rules & plans.
Top Management
They are Owners/shareholders, BOD,
Chairman,
Managing Director,
CEOs, GMs
Top Management
They are Functional
department
heads
Middle Management
Job of middle
mgmt. is to put
top mgmt.
policies & plans
into action.
Middle Management
Responsible for
real operations. They have contact
with workers, or
rank & files
Operative Management
Business owned &
operated by one person.
SOLE
PROPRIETORSHIP
Involves 2 or more
people who agrees to
share in the profit or
losses of a business.
PARTNERSHIP
Legal entity that is
created to conduct
business.
CORPORATION
TYPE OF BUSINESS ENTITIES :Owner’s freedom to make
all decisions & owner’s
enjoyment of all profits.
SOLE
PROPRIETORSHIP
TYPE OF BUSINESS ENTITIES : Owner’s possible lack of
ability & experience.
Limited opportunity for
employees.
SOLE
PROPRIETORSHIP
TYPE OF BUSINESS ENTITIES : Larger capital available to
the firm. Maximization of personal
interest.
Partnerships
TYPE OF BUSINESS ENTITIES :
1. Unlimited liability
2. Limited life
3. Divided authority
4. Danger of disagreement.
Partnerships
TYPE OF BUSINESS ENTITIES :
Each partner has equal share of profits & losses. Easy to
establish, low-cost, &
flexible.
Partnerships
“Artificial being, invisible,
intangible & existing only
in contemplation of law”.
Corporation
Its ownership is divided
into shares of stocks.
Corporation
Units of equity ownership in a corporation
Shares
Corporation Is the process of creating a
new legal entity that is separate from its
owners/shareholders and protects them from
personal liabilities whereas a Incorporation is the
end-product of that process. T or F
FALSE
TYPE OF BUSINESS ENTITIES :
Limited liability of
stockholders. Ease of transferring
ownership and expansion of the
company.
Corporation
Hiring suitable
personnel to carry
out specific task
in the company.
STAFFING
