Types of Businesses

Sole Proprietoiship

• owned by one person who has the resources and ability to operate it

Advantages

• set your hours

• tax benifits

• I'm the boss

• you maked the discions

Partnership

• two or more people own the business.

• can equally own %

Adv.

• 2 or more peopleto toake financial responsibility

• time and business will run

• divide work, specialize

• synergy- 2+2=5, taking talent of 2 people and getting a better product

eg.1 Edney- sings gingle

eg.2 Jared writes the jingle

work together they get the whole jingle

Competitive Structures

1. Compition- companies doing the same thing, eg fast food
2. Oligopoly- a few busisness dominate the market. cost is too much to try and start a new business eg. shoes, pop
3. Monopoly-one company owns it all. they can set the price and you have to pay it!! eg. Microsoft

What Businesses Sell

Product- something you can touch eg. cd. books

Service- can't touch it eg dentist, mechanic

Needs and Wants

Needs-things you couldn't do without

Wants-things we don't really need

The Goal of Businees

• be productive/profitable/sucsessful

• match customers wants/needs

• successuful- happy customers, honest pratice, doing the "right way"

The role of Christians in Business

• use our talents and oprotunities to serve God

• God glorifying

• are roles should be different