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The three basic functions of a business organization are production, marketing, and finance. Production involves creating goods or services to meet customer needs. Marketing focuses on promoting and selling those goods or services to target audiences. Finance manages the organization's funds, ensuring that resources are allocated efficiently and effectively to support operations and growth.

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What are the characteristics of the three legal forms of business organization?

characterstics three forms of business organzation


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.


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The three basic forms of a business are sole proprietorship, partnership, and corporation. A sole proprietorship is owned and operated by a single individual, offering complete control but also unlimited liability. A partnership involves two or more individuals sharing ownership and responsibilities, which can lead to shared profits and liabilities. A corporation is a separate legal entity that provides limited liability to its owners (shareholders) and can raise capital through the sale of stock.


What are the three types of business ownership?

Two of the three types of business ownership are: sole proprietorship and partnerships. The third type of business ownership is corporations.

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