Business Organisations in Maldives
Scenario 1: LO1 (P1.1):
There are mainly four types of organisations. Private sector organisations, Public sector Organisations, voluntary organisations and cooperatives.
Private Sector:
In the private sector, businesses operate in order to maximize the profits. They raise finance by issuing shares, borrowing loans from banks etc. They are owned and controlled by private parties.
For example Bank of Maldives, Amin Construction pvt ltd, Haza Construction pvt ltd. Their main aim is to maximize the profits.
Public sector:
Public sector organisations are owned and controlled by the government. The main aim is to take the responsibilities of the public. They do not operate for profits. For example: Maldives Police Service, IGMH, MNDF etc
Voluntary Organisations:
It is run by individuals. They do not operate for profits. And they do not get paid for the works they do. For example; Diabetic Society of Maldives, Beautiful Eyes of Maldives, Blue peace etc
Cooperatives:
There are three main types of cooperatives.
Consumers Cooperatives:
It is a cooperative business owned by its consumers for their benefits. Their main aim is to fulfil the needs of the members of the cooperative. They do not operate for profit.
Producers Cooperatives:
It is also known as workers cooperative where the worker owners own and control the cooperative. They protect the rights of workers.
Retailers Cooperatives:
Their main aim to get discounts from the manufacturers when they buy in bulk quantities. These organisations can be classified in to three sectors:
Primary Sector:
These industries are involved in extraction or production of raw materials.
Eg; Fishing, mining, firming
Secondary Sector:
These industries are involved in processing of raw materials.
Eg; Manufacturing, building, factory works, fish canning
Amin Construction and Haza Construction will be in secondary sector as they are doing construction works.
Tertiary Sector:
These are the industries which provide services.
Eg;
There are mainly four types of organisations. Private sector organisations, Public sector Organisations, voluntary organisations and cooperatives.
Private Sector:
In the private sector, businesses operate in order to maximize the profits. They raise finance by issuing shares, borrowing loans from banks etc. They are owned and controlled by private parties.
For example Bank of Maldives, Amin Construction pvt ltd, Haza Construction pvt ltd. Their main aim is to maximize the profits.
Public sector:
Public sector organisations are owned and controlled by the government. The main aim is to take the responsibilities of the public. They do not operate for profits. For example: Maldives Police Service, IGMH, MNDF etc
Voluntary Organisations:
It is run by individuals. They do not operate for profits. And they do not get paid for the works they do. For example; Diabetic Society of Maldives, Beautiful Eyes of Maldives, Blue peace etc
Cooperatives:
There are three main types of cooperatives.
Consumers Cooperatives:
It is a cooperative business owned by its consumers for their benefits. Their main aim is to fulfil the needs of the members of the cooperative. They do not operate for profit.
Producers Cooperatives:
It is also known as workers cooperative where the worker owners own and control the cooperative. They protect the rights of workers.
Retailers Cooperatives:
Their main aim to get discounts from the manufacturers when they buy in bulk quantities. These organisations can be classified in to three sectors:
Primary Sector:
These industries are involved in extraction or production of raw materials.
Eg; Fishing, mining, firming
Secondary Sector:
These industries are involved in processing of raw materials.
Eg; Manufacturing, building, factory works, fish canning
Amin Construction and Haza Construction will be in secondary sector as they are doing construction works.
Tertiary Sector:
These are the industries which provide services.
Eg;