TRASH THAT WONT DELETE

• Sectors of Economy - Private Sector

  Businesses in this part of the economy are owned and controlled by private individuals. These people have invested their money, time and ideas into the business and want to make a PROFIT in return. For example McDonald's.
• Sectors of Economy - Public Sector

  Businesses in this part of the economy are owned and controlled by the government. They provide services to people because they need them and it isn't based on ability to pay. For example The NHS.
• Sectors of Economy - Third Sector

  Businesses in the Third Sector are not run just to make a profit for the owners, and they aren't owned by the government. This Sector will include: Voluntary organisations, like charities and community groups. Social enterprises. Co-operatives. For example The Big Issue.
• Types of organisations in each sector: Private Sector - Sole Trader, Partnership, Private Limited Company (Ltd), Public Limited Company (plc).
• Types of organisations in each sector: Public Sector - Public Sector Organisation, Local council (Government), Public Corporation.
• Types of organisations in each sector: Third Sector - Charity, Social Enterprises, Voluntary Organisations.
• Organisations in the Public Sector

  Public sector organisations are owned and run by the government. We pay taxes so that the government can provide the people fo the country with a range of services which everyone is entitled to.
• Organisations in the public sectors - Locally Government

  Local authorities, like Clackmannanshire Council, provide local residents with all sorts of services such as education, housing, refuse collection, leisure facilities and libraries. They fund this by suing Council tax and business rates, borrow from central government and charge for the services.
• Organisations in the Public Sector - Central Government

  West Minister and the Scottish Parliament provide essential services for the whole country such as the National Health Services and Defence. There are special Goverment departments for each area and elected politicians. Finances mostly come from people paying taxes.
• Organisations in the Public sector - Public Corporations

  They are regulated by central government and a Chairperson and Board of Directors is appointed to manage it on behalf of the government. The BBC is an example. Many Public corporations such as British Telecom and the Royal Mail have been sold by the government and are now Public Limited Companies.
• Organisations in the Third Sector

  Charities, social enterprises and voluntary organisations are all examples of organisations which operate in the third sector of the economy. They exist to help people and put something back into the community.
• Organisations in the Third Sector - Charities

  Charities have to be registered and what they do is regulated by the government. They are often set up by Trusts and a Board of Trustees control how they run. Many who work are volunteers and they get finances by donations, shop sales, government grants and fees for services. Some charities are exempt from tax.
• Organisations in the Third Sector - Voluntary Organisations

  These may be groups such as youth clubs and sports clubs. They are run by their members who have been elected ok the Committee.
• Organisations in the Third Sector - Social Enterprises

  These are business that sell goods and services but specifically exist for social and/or environmental purposes. They need to make a profit like any private sector business but the difference is that their profits are reinvested to help achieve their social environmental aim.
• Terms:

  Sales/Turnover

  • The revenue the business receives from selling its product to customers.
• Disadvantage:

  Intrest has to be paid on the loan.
• Advantage:

  Repaint is over a long period of time e.g. 25 years.
• Advantages:

  Fixed interest rates can be arranged so that the organisation knows what its monthly payments will be for tje forseeable furure.
• Advantages:

  • Using specialised software to design an item before it's manufactured.
• This morning can be used elsewhere in the business.
• Stock is maintained in appropriate conditions epoch reduces waste.
• Warehouse may be located away from business premises in more remote areas due to cost of lands/premises.
• Additional flexibility due to human skills - can make one-off items and tailor to customer needsm
• Machines/tobots can do work that would be dangerous or hazardous to humans.
• Reduced need for supervisin.
• Disadvantages:

  • Waste could be high as faults are only found once the product is completed.
• Costs:

  • Costly to set up and run.
  • Information will be available to customers.
• Costs:

  • Costly to set up and run.
  • Information will be available to customers.