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FORMS OF BUSINESS ORGANISATION
Sole proprietorship refers to a form of business
organisation which is owned, managed and controlled by
an individual who is recipient of all profits and bearer of all
risk .
Formation and closure LiabilitySole Risk Bearer And Profit Recipient Control No Separate Legal Entity Lack of Business ContinuitySmall Size
Ease in formation and closureSense of accomplishmentDirect incentiveFlexibilitySecrecySole beneficiary of ProfitsQuick Decision Making
MeritsMerits
Limited ResourcesLimited Life of BusinessUnlimited LiabilityLimited Managerial SkillLimited Scope for Expansion
EXAMLESCATERING COMPANYLAND SCAPERFREELANCEWRITERHOME HEALTH CAREVIRTUAL ASSISTANT
Defination of Hindu Undivided Defination of Hindu Undivided FamilyFamily
The business carried out The business carried out by the male members of by the male members of a Hindu undivided family a Hindu undivided family is known as Joint Hindu is known as Joint Hindu Family Business.Family Business.
Conditions of Joint Conditions of Joint Hindu FamilyHindu Family
There are two conditions for existence There are two conditions for existence of joint Hindu family business. These are:of joint Hindu family business. These are:
1.1. Minimum two male members must be Minimum two male members must be there in the family.there in the family.
2.2. Existence of some ancestral property.Existence of some ancestral property. The business is controlled by the head The business is controlled by the head
of the family who is the eldest member of the family who is the eldest member and is called and is called KartaKarta.. All members have All members have equal ownership right over the property of equal ownership right over the property of an ancestor and they are known as an ancestor and they are known as Co-Co-parceners.parceners.
Systems of Hindu Systems of Hindu Undivided FamilyUndivided Family
Under Hindu law there are two systems of Under Hindu law there are two systems of inheritance. These are:inheritance. These are:
1.1. Dayabhaga :Dayabhaga : This system prevails only in This system prevails only in West Bengal. Under this system the male as West Bengal. Under this system the male as well as female members of Joint Hindu well as female members of Joint Hindu Family can become copartners as well as co- Family can become copartners as well as co- parceners.parceners.
2.2. Mitakashara :Mitakashara : This system prevails all This system prevails all over India except West Bengal. Under this over India except West Bengal. Under this system only male members can become system only male members can become coparceners in the Joint Hindu Family coparceners in the Joint Hindu Family business.business.
FeaturesFeatures FormationFormation LiabilityLiability ControlControl ContinuityContinuity ManagementManagement Minor MembersMinor Members Membership By BirthMembership By Birth RegistrationRegistration RightsRights
MeriMeritsts Ease in Form and DissolveEase in Form and Dissolve
SecrecySecrecy Limited Liability of MembersLimited Liability of Members Protection of MinorsProtection of Minors ContinuityContinuity Economic Security and Status to Economic Security and Status to
MembersMembers Family PrideFamily Pride Effective ControlEffective Control
DemeriDemeritsts Limited CapitalLimited Capital
Unlimited Liability of KartaUnlimited Liability of Karta Limited Managerial SkillLimited Managerial Skill Karta Too PowerfulKarta Too Powerful Dominance of KartaDominance of Karta No Match in Work and No Match in Work and RewardReward
CASE STUDY ON CASE STUDY ON ADITYA ADITYA BIRLA GROUPBIRLA GROUP
ABOUT BIRLASABOUT BIRLAS ADITYA BIRLA GROUP STARTED AT 1857.ADITYA BIRLA GROUP STARTED AT 1857. SHIV NARAYAN BIRLA STARTED COTTON SHIV NARAYAN BIRLA STARTED COTTON TRADING OPERATION IN THE SMALL TRADING OPERATION IN THE SMALL
OF PILANI IN RAJASTHAN.OF PILANI IN RAJASTHAN. GHYANSHYAMDAS BIRLA (GD BIRLA)-1919-GHYANSHYAMDAS BIRLA (GD BIRLA)-1919-he set the manufacturing company.he set the manufacturing company.
GRANDSON OF GD BIRLA IS ADITYA GRANDSON OF GD BIRLA IS ADITYA VIKRAM(AV BIRLA)-1964-VIKRAM(AV BIRLA)-1964-
SON OF AV BIRLA IS KUMAR MANGALAM(KM SON OF AV BIRLA IS KUMAR MANGALAM(KM BIRLA)-1995.BIRLA)-1995.
BIRLABIRLA COMPANIES COMPANIES
Partnership is an Partnership is an association of two or association of two or
more persons who agree more persons who agree to jointly pursue a to jointly pursue a
business activity. They business activity. They pool their managerial pool their managerial
and financial resources and financial resources for the purpose.for the purpose.
1.Formation2.Liability3.Risk Bearing4.Decision Making and Control
5.Continuity6.Membership7.Mutual Agency
Features of Partnership
1.1.Ease of formation and Ease of formation and closureclosure
2.2.Balanced decision Balanced decision makingmaking
3.3.More fundsMore funds4.4.Sharing of risksSharing of risks5.5.SecrecySecrecy6.6.Division of workDivision of work7.7.FlexibilityFlexibility
1.Unlimited Liability1.Unlimited Liability2.Non-Transferability of 2.Non-Transferability of ShareShare3.Conflicts3.Conflicts4.Uncertainity4.Uncertainity5.Risk of Mutual Agency5.Risk of Mutual Agency6.Lack of Public Confidence 6.Lack of Public Confidence
Partnership Companies in India
1.TATA Motors Ltd., Jamshedpur2.Reserve Bank of India, Kolkata3.Indian Oil Corporation Ltd., Patna
Case Study of TATA Motors
The Tata Motors group is based in India. The motor group was established in 1945 as part of the larger Tata Group. They have long been known for their commercial vehicles and in the past ten years entered into the passenger car market. Currently, Tata Motors has a line of five passenger vehicles and a large line of commercial vehicles producing pickups, trucks, tractor trailers, tippers, and buses. Both product lines of the Tata Motors group have seen success, but much of this has been built up on the more deeply established commercial vehicle product line.
A company is an A company is an association of association of
persons formed persons formed for carrying out for carrying out
business business activities and has activities and has
a legal status a legal status independent of independent of
its members. The its members. The company form of company form of organisation is organisation is governed by governed by
THE COMPANIES THE COMPANIES ACT 1956 ACT 1956
Artificial person Artificial person Separate legal Separate legal
entityentity Formation Formation RegistrationRegistration Common SealCommon Seal Perpetual Perpetual
SuccessionSuccession Risk BearingRisk Bearing
Artificial person Artificial person Separate legal Separate legal
entityentity Formation Formation RegistrationRegistration Common SealCommon Seal Perpetual Perpetual
SuccessionSuccession Risk BearingRisk Bearing
Limited LiabilityLimited Liability InterestInterest ExistenceExistence ManagementManagement ExpansionExpansion Social ResponsibilitiesSocial Responsibilities Public ConfidencePublic Confidence
Limited LiabilityLimited Liability InterestInterest ExistenceExistence ManagementManagement ExpansionExpansion Social ResponsibilitiesSocial Responsibilities Public ConfidencePublic Confidence
FormationFormation SecrecySecrecy EnvironmentEnvironment RegulationsRegulations Decision makingDecision making ManagementManagement InterestInterest
FormationFormation SecrecySecrecy EnvironmentEnvironment RegulationsRegulations Decision makingDecision making ManagementManagement InterestInterest
CASE STUDY OF COCA CASE STUDY OF COCA COLACOLA
Thank YouEfforts By :
Ankita Lohia
Simran Duseja
Taniya Mahajan
Twinkle Sharma
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