Business organisations meaning and types.

[TOZZIBLINKZ]

Whether at school or in our personal business chit chat with someone we have come across or make use of the word business organisation . But have you ever asked yourself what exactly is a business organisation ? For those who doesn't know what a business organisation is , by definition a business organisation is considered to be an enterprise set up by an individual or group of individuals government , or its agencies for the main purpose of making profit and providing goods and services to satisfy human want and need . Business organisation whether its a small or large irrespective of the ownership and structure have one thing in common which is they provide goods and services to meet the numerous needs and wants of the population . Business organisations are subdivided into two types which are private enterprises and public enterprises.

PUBLIC BUSINESS ORGANISATIONS : enterprises which are private in nature are owned , managed , and controlled by private individuals . Private individual run the private sectors of business enterprises and example of such private enterprise are sole proprietorship , partnership , private and public limited companies , and cooperative societies . The major aim or objective of private enterprise is to maximize profit with the available limited resources at their disposal .

PUBLIC BUSINESS ORGANISATIONS : this type of business organisations our own control and manage by the government and it parastatals . The local , state , or Federal Government owned enterprises have the major objectives to provide social service to the people . they are associated with names such as authority , corporation , board , and commission .

 

[Augusta]

I think I learned this right from my elementary school that a business organization is a venture set up solely for profit maximization. When once you think about having an enterprise that you can start buying and selling of products for profit purpose then you are having a business organization.

now, when you think about business organization you need to think in terms of a it being a private or public business organization

private organization as the name implies are owned by individuals that want to have their own buying and selling of products for their personal gains

while public organization are started and controlled by the government for the people