Overview of Business in Public, Private and Voluntary Sectors

Business environment

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business may be defined as an entity or an organisation which is engaged in any
commercial, professional or industrial activity. The main motive of the business organisation is
to provide the best quality product in the market and earned large amount of profit. The
following report is going to discussed about the brief overview of the private, public and
voluntary with its characteristics and appropriate example.
TASK
Public organisation
These organisations which is owned and controlled by the state and public authorities in which
commercial and economic activities are carried out is known as public organisation. This type of
enterprise is placed by the public authorities due to some social reasons. This form of business
organisation has government interference (Canel and Luoma-aho, 2018). This enterprise works
in developing the nation and decreasing the dependency on the other nations. This also leads in
increasing employment opportunities in the country.
The characteristics of the public enterprise are as follow:
 This enterprise is owned by government or public authorities.
 Public enterprise generates the finance in form of taxes.
 It has to work in a legal form.
For example: British business Bank is owned and controlled by the UK government is one of the
public enterprise.
Private organization: -
Private organization is a business in which they include the partnership, person, corporation and
agency which doesn't operate by the public bodies. A non-federal body which is self-sufficient &
formed by individuals who are not playing in the content of the government can be referred to as
a private organization (Pedraza Melo, 2020). Instead of being owned or controlled by the
government or an official organization, private industries and services are owned or controlled
by individuals or businesses.
Characteristics of private organization
 The private companies are operated by an individual which possess a separate legal entity
 In this the number of shares are restricted to 50