Welcome to Module 6! Today, we delve into the various types of ourganization structures that form the backbone of the business world.

Lesson 1: Demystifying Organizaiton Types

1.1 Sole Proprietorship:

Definition: A business owned and run by a single individual.

Characteristics: Direct control, simplicity, and full responsibility.

1.2 Partnership:

Definition: A business owned by two or more individuals who share responsibilities and profits.

Characteristics: Shared management, diverse skills, and collective decision-making.

1.3 Limited Liability Company (LLC):

Definition: A flexible form combining aspects of partnerships and corporations.

Characteristics: Limited liability for members, flexibility in management.

Lesson 2: Embracing Corporate Entities

2.1 Private Limited Company:

Definition: A privately held business with restricted shares.

Characteristics: Limited liability, fewer regulatory obligations.

2.2 Public Limited Company:

Definition: A company that sells shares to the public.

Characteristics: Widespread ownership, stringent regulatory compliance.

2.3 Nonprofit Organization:

Definition: An organization formed for a purpose other than profit.

Characteristics: Mission-driven, tax-exempt status.

Lesson 3: Navigating Hybrid Structures

3.1 Joint Venture:

Definition: A business arrangement where two or more parties collaborate for a specific project.

Characteristics: Shared risks and rewards, limited duration.

3.2 Franchise:

Definition: A model where individuals purchase the right to operate under an established brand.

Characteristics: Brand recognition, support from the franchisor.

Conclusion:

Understanding company types is crucial for entrepreneurs and professionals alike. Choose wisely, as the structure shapes the journey!