TARINNA

• Joint Ventures


  A special type of partnership established to form a single business activity and closes when the activity has completed
• Joint Venture


  • Samsung and Matalones to build houses, with the government providing the land
• Cooperatives


  • Membership is open to any person over the age 16 for a small fee
  • Democratic - all members have one vote and contribute sharing responsibilities and decision
  • Distribution of profits are shared equally among members in the form of dividends
  • Shares are sold to its members as the members are its clients
  • Provided interest on capital members are paid a rate of return (5%) on money borrowed
• Types of Cooperatives


  • Consumer Cooperative - persons buy goods in large quantities then resell them at reduced prices
  • Agricultural Cooperative - farmers, who cooperate in the production of agricultural products share work load, make decisions and share profits
  • Financial Cooperatives - organizations that sell shares and its members receive dividends, they charge interest on loans and have fund raising e.g. credit unions
• Franchise examples


  • Burger King
  • Pizza Hut
  • KFC
• Limited Company


  A company has limited liability. This means that if the business fails, the shareholders will lose only the capital contributed and not personal assets
• Limited Company


  • Raises capital by selling shares and debentures (debt instruments)
  • Must be incorporated, meaning it has separate legal identity from its owner
• Formation of Private Limited Company

  1. Must be incorporated and provide the registrar of companies the memorandum of association, the articles of association, and statement of authorised capital

  2. Management by owners or persons appointed by owners

  3. Must receive Certificate of Incorporation from the register of Companies to commence operations
• Formation of Public Limited Company

  1. Must be registered and provide the memorandum of association, articles of association, statement of authorised capital and the prospectus to the registrar of Companies

  2. Management by the board of directors who appoints an executive director

  3. Must receive a Certificate of Trading to commence operations
• Public Limited Companies must have the words 'plc' or 'Inc' after the company's name
• An economic system is the way in which a society allocates scarce resources to produce goods and services to satisfy the wants of the population
• Types of Economic Systems


  • Traditional/Subsistence Economy
  • Free Market (Capitalist) Economy
  • Planned/Command/Socialist Economy
  • Mixed Economy
• Traditional/Subsistence Economy


  An economic system in which people produce just enough for their own communal needs and do not produce a surplus for trade
• Traditional/Subsistence Economy


  • Based on traditions and customs where nearly the entire population is engaged in agriculture
  • Produces just enough food for their needs
• Free Market (Capitalist) Economy

  • Economic resources are owned by private individuals
  • Very little government intervention
  • Consumers influence the producers' decision on what to produce
  • Goods and services are bought and sold
• Planned/Command/Socialist Economy


  An economic system where the government commands or plans the economy and makes key economic decisions on behalf of the society
• Mixed Economy


  An economic system that combines some state planning with free market. Decisions are made both by the government and private business
• Functional Areas of Business

  The specific areas of work that businesses are split into with responsibility for a particular function
• Functional Areas of Business

  • Production
  • Marketing
  • Finance
  • Human Resources (HR)
  • Research and Development (R&D)
• Finance


  • Responsible for securing funds for the business, keeping accounting records to show how funds are used, and recording the sales and costs of the business
• Endocrine glands include the pituitary gland, thyroid gland, parathyroid glands, adrenal glands (including the adrenal medulla), pancreas, ovaries/testes, and pineal gland.
• Hormones are chemical messengers that regulate various physiological processes such as growth, metabolism, reproduction, and homeostasis.
• The main function of the endocrine system is to secrete hormones into the bloodstream, which then travel throughout the body.
• Skeletal muscles attach to bones via tendons and allow voluntary movement.
• The main function of the endocrine system is to regulate metabolism, growth, development, tissue function, sexual function, reproduction, sleep, and mood.
• Cardiac muscles make up the walls of the heart and contract involuntarily to pump blood.
• The endocrine system is responsible for maintaining balance within the body by producing hormones that control different functions.
• The hypothalamus acts as a control center for many bodily functions, including hunger, thirst, sleep, mood, and sexual behavior.
• Examples of hormones produced by the endocrine system include insulin, glucagon, cortisol, testosterone, estrogen, progesterone, follicle-stimulating hormone (FSH), luteinizing hormone (LH), human chorionic gonadotropin (hCG), melatonin, and growth hormone (GH).
• Examples of hormones produced by the endocrine system include insulin from the pancreas, testosterone from the testes, estrogen from the ovaries, cortisol from the adrenal cortex, epinephrine from the adrenal medulla, growth hormone from the anterior pituitary gland, prolactin from the anterior pituitary gland, follicle-stimulating hormone (FSH) from the anterior pituitary gland, luteinizing hormone (LH) from the anterior pituitary gland, melatonin from the pineal gland, and thyroxine (T4) and triiodothyronine (T3) from the thyroid gland.
• There are three types of muscle tissues: skeletal, cardiac, and smooth.
• Examples of skeletal muscles include biceps brachii, triceps brachii, quadriceps femoris, gluteus maximus, deltoid, rectus abdominis, sartorius, tibialis anterior, extensor digitorum longus, flexor carpi radialis, and flexor carpi ulnaris.
• The pancreas produces insulin and glucagon, which play important roles in regulating blood sugar levels.
• The nervous system consists of the brain, spinal cord, nerves, neurons, neuroglia, and synapses.
• What is partnership 


  PARTNAERSHIP US A BUSINESS FORMED BY 2TO 20 PERSONS PROVIDING CAPITAL AND SHARING