Be able to align objectives of own area of

responsibility with those of own organisation

such as sole trader, partnership, private limited
company (Ltd.) and public limited company (plc).

Outcomes
1. Identify operational objectives within

own area of responsibility. This includes

short-term goals whose attainments
move an organization towards
achieving strategic or long-term goals.
2. Analyse objectives of own area of
responsibility in relation to those of
own organisation

 There

are around 1.15 million limited

companies operating in the UK
currently, compared to around 2.8m
sole traders and 500,000
partnerships.

Private Sector Firms

Sole

Trader
Partnership
Private Limited Companies
Public Limited Companies

Business Aims &

Objectives
An

aim is where the business wants

to go in the future.

Business

objectives are the stated,

measurable targets of how to
achieve business aims. E.g.: Long
term and Short Term goals

Sole Trader
Easier way to set up a business
Why?...

Sole Trader
Owner
Objectives
Profits
Records and Accounts
Tax
Finance
Risks & Liability!

Partnership
What

is Partnership & its Common

features??
Owner
Objectives
Profits - Shared
Records and Accounts
Tax
Finance
Risks & Liability!
8

Partnership Cont...
There

are three types of Partnerships

'ordinary' partnerships
limited partnerships
limited liability partnerships (LLPs)

They have most common features

Private Limited Companies

Finance
Tax
Turnover
Register for

Value added Tax. E.g.

before 50,000 to 55,000 on April
2011.
Responsibilities
Registered with Common House
10

Public Limited Companies

Trade

on Stock Market
Minimum share capital of 50000
Minimum of two directors
Its name must contain plc or
private limited company.
Secure a trading certificate from the
Companies House

11

Small Exercise
I

want you to think of a business (any

business e.g. alliance boots, ASDA,
TESCO, KFC etc What are their
characteristics (are they sole traders, plc).
I want more than just one word. At least
80 words.
Now I want you to go and research on a
proper business and find some
characteristics of them.
Then go through assignments and format.
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 Next

week we will go through what

we did in last lecture.

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