An Analysis of Richer Sounds PLC
1.0 A Report on How Richer Sounds Functions
4.1 A Classification of the business according to its ownership, and
an explanation of the benefits and constraints of this type of
ownership
Richer Sounds is part of the Private Sector, which consists of
businesses who seek to make a profit. Julian Richer is the sole owner
of Richer Sounds, which means he has full control over the business,
but the Directors run it. Richer Sounds is a regional unlisted Public
Limited Company, which means it is not listed on the Stock Exchange.
Julian Richer is owner of all the shares of Richer Sounds, but the
official name of the company is still Richer Sounds PLC, even though
the shares are not for sale to the public. Julian Richer also gains
the advantage of limited liability, which means he is not personally
liable for any of the company’s debts. The most he can lose is the
money he has invested in the company, so he has not put any of his
personal possessions at risk.
4.1.1 Richer Sounds’ Legal Requirements
Richer Sounds also have legal requirements that it has to abide by;
such as they must have its name and address, ect registered at the
Companies House where they will also have to send annual returns and
financial statements. This is one of the disadvantages of being a
Limited Company the fact they have lots of paperwork due to annual
statements. The advantages and disadvantages of Richer Sounds are
shown further on in the report. Also the financial affairs of Richer
Sounds have to be published because the company’s stakeholders need to
see how the business is performing.
4.1.2 Memorandum and Articles of Association
The documentation that Richer Sounds is likely to encou...
... middle of paper ...
...follows:
www.richersounds.co.uk
www.msn.com (search engine); searched words such as Richer Sounds PLC,
Richer Sounds’ products and prices, communication.
Textbooks I used are as follows:
Business Studies for you, authors David Needham and Robert Dransfield
Business Studies, authors Ian Marcouse, Andrew Gillespie, Barry
Martin, Malcolm Surridge, Nancy Wall.
Line relationship . Each person has a superior and staff know whom
they should report and for which staff or work area they are
responsible for.
Informal relationship. Staff have frequent contact through their work,
but have no formal relationship.
Staff relationship. This is where no formal authority exists, but
advice is sought.
Lateral relationship where the staff in different departments with
the same level of responsibility need to co-operate or co-ordinate
their activities.
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because he is the owner and has to spend a small amount of Capital to
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