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What business organization owned by a group of people for their mutual benefit?
A business organization owned by a group of people for their mutual benefit is known as a cooperative, or co-op. Members of a cooperative typically contribute to the organization and share in its profits or benefits, which are distributed based on usage rather than investment. Co-ops can exist in various sectors, including agriculture, retail, and housing, promoting collective ownership and decision-making among their members. This structure emphasizes mutual support and community development.
What is a business owned by members and managed in their interest is called?
A business owned by members and managed in their interest is called a cooperative, or co-op. In a cooperative, members typically share profits, decision-making, and resources, promoting mutual benefits and community welfare. This structure allows members to have a direct say in the operations and direction of the business, aligning it with their collective interests. Examples include credit unions, agricultural co-ops, and housing cooperatives.
What is a business owned by its members that is managed in the interest of the owners?
a cooperative
What is a business owned by 2 or more people called?
I'm guessing its called a partnership business
Can you Outline and explain the different types of business organisation in the business environment?
there are two mainly tyapes of bte business organization namely privately owned and public owned business. in private ownsd business organization are three tyapes namely solepropriator business organization this is one whicha is owned by an individual alone especially family business as an example then the second is partirnership business organization this is the one in which people with same concern join to make a business operation intending to earn profit and the last is joint stock company in this business operates distinctly from owners this means the business is operated under the three documents which are the constitution governing the business one article of association secondly memorandum.
What business organization owned by a group of people for their mutual benefit?
A business organization owned by a group of people for their mutual benefit is known as a cooperative, or co-op. Members of a cooperative typically contribute to the organization and share in its profits or benefits, which are distributed based on usage rather than investment. Co-ops can exist in various sectors, including agriculture, retail, and housing, promoting collective ownership and decision-making among their members. This structure emphasizes mutual support and community development.
What is a organization owned by many people called?
An organization owned by many people is typically called a cooperative or co-op. In a cooperative, members share ownership and decision-making responsibilities, often working together to achieve common goals or benefits. Another term for such an organization is a corporation, which can be owned by shareholders who hold stock in the company.
What is a business organization owned by a froup of people for their mutual benefit?
A cooperative is a business organization owned and operated by a group of individuals for their mutual benefit. Members pool resources and make decisions cooperatively to achieve common goals and meet the needs of the group. They share in the profits and benefits according to their participation or investment.
What is a business owned by members and managed in their interest is called?
A business owned by members and managed in their interest is called a cooperative, or co-op. In a cooperative, members typically share profits, decision-making, and resources, promoting mutual benefits and community welfare. This structure allows members to have a direct say in the operations and direction of the business, aligning it with their collective interests. Examples include credit unions, agricultural co-ops, and housing cooperatives.
What is a business owned by its members that is managed in the interest of the owners?
a cooperative
What is a Business organization owned by a limited number of stockholders?
Closed Corporation
What is a Business organization owned and operated by a group of individuals for their mutual benefit?
cooperative.
Who owns a voluntary organisation?
A voluntary organization is typically owned and operated by its members or a governing body, such as a board of directors or trustees. It is not owned in the traditional sense like a for-profit business; instead, it is usually established to serve a specific cause or community need. Members often contribute their time and resources voluntarily, and any profits are reinvested into the organization's mission rather than distributed to owners.
Which term is used to describe a business that is owned and democratically operated by its members?
cooperative
The resources owned by a business are called what?
asset
The resources owned by a business are called?
Asset
What is a business called that is owned by shareholders?
A corperation
