Ib Business and Management 1.2 Study Notes
Unit 1.2 : Types of Organization
Private Sector Public Sector
- Comprises privately owned businesses
- Run and owned by private individuals and businesses - Private and public companies
Three main types of private sector
1. Sole traders
2. Partnerships
3. Companies
- Comprises organizations which are administered by the government
- Owned and controlled by the government
- Post offices, public hospitals, public schools
Private Sector Public Sector
- Comprises privately owned businesses
- Run and owned by private individuals and businesses - Private and public companies
Three main types of private sector
1. Sole traders
2. Partnerships
3. Companies
- Comprises organizations which are administered by the government
- Owned and controlled by the government
- Post offices, public hospitals, public schools