Forms of Business, Business Regulation and Governance

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Last updated 4:19 PM on 7/9/26
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11 Terms

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Impact of enterprises at local/national

  1. Public Enterprises

  • Provide services, improve infrastructure, help development.

  1. Public Enterprises

  • Creates jobs, can start a chain reaction, contributes to economic growth, increases exports.

  1. Non-Profit Enterprises

  • Helps with social inclusion, creates jobs/volunteers, provides services, helps solve social issues.

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Types of ownership

  1. Sole Trader

  2. Partnership

  3. Private Limited Company (Ltd)

  4. Designated Area Company (DAC)

  5. Public Limited Company (PLC)

  6. Co-operatives

  7. Franchises

  8. Public Sector

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Why ownership types can change over time

  1. To get limited liability

  2. Continuing after owner’s death

  3. To expand

  4. Tax benefits

  5. Becoming a private enterprise

  6. Becoming a public enterprise

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Aims of regulation

  1. More consumer protection

  2. Fair treatment of employees

  3. Market fairness

  4. Financial integrity

  5. Protecting the environment

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Types of internal regulation

  1. Internal Audits

  2. Risk Management

  3. Compliance

  4. Corporate governance

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Types of external regulation

  1. Government regulators (CCPC, etc.)

  2. Government laws

  3. External audits

  4. European laws

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Key parts of corporate governance

  1. Board of Directors

  2. Risk management

  3. Transparency

  4. Ethical practices

  5. Stakeholder engagement

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Importance of governance

  1. Prevents fines

  2. Reduces risk

  3. Increased trust

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Factors in an ESG report

  1. Environmental (sustainability and the environment)

  2. Social (interacting with people, employee rights)

  3. Governance (ethics, leadership, following laws)

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Importance of an ESG report

  1. Reduces carbon footprint (environmental)

  2. Better reputation and employee engagement (social)

  3. Improves trust with investors (governance)

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Advantages and disadvantages of privatisation

Advantages

  1. Increased government revenue

  2. More efficient services/production

  3. More competition

Disadvantages

  1. Loss of state assets

  2. More unemployment

  3. Less social commitments

  4. Driven by profit