A business enterprise is a highly organized entity which employs many people to produce and provide services to consumers. Business enterprises are producers in a producer-consumer economy. Business enterprises are large companies which are located all around the world and employ many people.
|A picture of a business enterprise.|
Types of Business Enterprises
There are many types of business enterprises in the modern world. A list of the types of business enterprises are presented in the following points:
Franchises - business enterprises which let individuals run smaller businesses out of are called franchises.
Companies - a business enterprise which consists of a group of people who share a common interest to accomplish goals is called a company. There are different types of companies like private limited companies, limited liability companies, private-trade companies, and public-trade companies.
Partnerships - a type of business enterprise which is formed by two or more people is called a partnership.
Corporations - business enterprises which have a board of directors and are often owned by the government are called corporations.
Cooperatives - business enterprises in which every employ has decision making powers are called cooperatives or co-ops.
Benefits of Business Enterprises
Business enterprises have many benefits in the way they are organized. A list of the benefits of business enterprises are presented in the following points:
- Business enterprises are well-established and widely known by people and businesses.
- A business enterprise provides work to a large number of skilled people and this helps increase employment levels in an area.
- Business enterprises have departments which are well-formed; each department would resemble a startup company in size and function.
Doubts of Business Enterprises
Business enterprises can leave certain parts of business sectors unattended to. A list of the doubts of business enterprises are presented in the following points:
- Business enterprises may run into disputes based on legal framework of countries, and places.
- Business enterprises focus on clients with many customers rather than focus on individual clients.
- Business enterprises may not be able to focus on smaller problems or new ideas due to low level of profitability.
Building Business Enterprises
Business enterprises are built over time as profits increase and customer bases expand, growing the business to become an enterprise. Businesses grow larger as their client base becomes happier and increases over time, due to good results and many completed projects to showcase as a statement of their capability in their field of focus. The things we use in our everyday lives are produced by different business enterprises. Which business enterprises have you heard of?
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