What does "company" mean in English-speaking countries? What about other languages? This article will help you find answers to these questions by providing definitions for company or business terms in various common situations such as business entities, legal status, and types of companies. It also includes some interesting facts that may help you learn more about this topic.
Company definition examples:
A company can be defined as an organization with corporate structure which has at least one owner who uses his own money to finance it. The main purpose of any company is to make profit from their activities. In order to achieve this goal they need to sell products or services to customers. Companies are usually divided into two categories depending on how much control the owners have over them. One category consists of privately held businesses while the other refers to publicly traded ones. There are many variations between both varieties but most importantly there are significant differences regarding taxes paid by each type. Privately owned firms do not pay federal income tax while publically traded corporations do because they pass profits through stock exchanges where they are taxed by the government according to capital gains rates.
It's similar to a corporation except that there is only one person involved instead of multiple shareholders. A sole proprietorship means someone owns all assets and liabilities of that particular enterprise. They are responsible for paying personal debts like mortgages and credit cards but if something goes wrong then the creditors could sue the owner personally rather than the company itself. On top of that, when a firm fails to meet obligations it leaves behind unpaid debt even though the founder(s) might still claim to be innocent.
Also known as Limited liability companies, corporations are considered separate legal entities from their founders/shareholders. These kind of organizations exist solely to carry out specific tasks and should avoid doing anything else unless specifically authorized. They're allowed to raise funds from investors either by selling shares of ownership or issuing bonds. Corporations are required to file annual reports with relevant agencies so people can keep track of what they've been up to. Most states require corporations to follow certain rules and regulations set forth by law. For example, California allows new corporations to choose whether they want a board of directors or officers. Boards consist of members whose job it is to manage day-to-day affairs whereas Officers are accountable for making sure everything runs smoothly without losing focus of the overarching goals.
Partnerships are partnerships made among individuals who share resources and responsibilities equally. Partnerships are very flexible since partners don't necessarily have to be equal in age, sex, wealth, education, etc. Partnerships are run under Article 708 of the Civil Code which provides that every partner must perform duties according to agreed upon standards and guidelines. When a partnership dissolves, the assets go back to their original owners minus expenses incurred during management. However, nothing happens to liabilities since partners aren't liable for each others' actions. Partnerships end when one party decides to dissolve it although they can agree to continue operations until their shared objective is achieved.
Unlike S Corps (solely incorporeal), C corps are physical structures with tangible assets. C Corp stands for 'corporation'. Since they hold title to property and equipment used in daily operations, C corp employees cannot work for another company within same industry without permission from proper authorities. Also, unlike partnerships, c corps are legally recognized as separate entities from their owners. Their primary objectives include protecting their owners against lawsuits brought by third parties even after dissolution. Another unique characteristic of c corps is that they can issue preferred stocks which come with voting rights. Ownership of c corps is represented via certificates which show information including name, number, date issued, amount, face value, signature, and address of bearer. Certificates are generally valid for 5 years and expire once renewal occurs.
Like partnerships, limited liability companies are legal constructs representing groups of people who pool together their resources in exchange for sharing ownership and operating responsibilities. Unlike partnerships, LLCs are treated as separate legal entities from their owners. Members are free to transfer ownership whenever they wish provided that prior approval is obtained from the appropriate agency such as Department of Revenue. If something goes wrong, members won't be held liable due to limited liability provisions found in Articles 2 & 8073 of the Revised Statutes of Delaware. Instead, managers are responsible for managing the company properly for better results. Like partnerships, llcs can be formed using contracts signed by members. Managers are typically elected by majority vote with no right to remove themselves from office.
Businesses engaged in transactions involving goods or services based on mutual benefit. Examples would be purchasing raw materials from suppliers in return for creating finished product or renting space in retail stores for vendors to display their wares.
This term describes relationships established among different kinds of businesses in which one acts as provider of goods or services and another acts as buyer. Some important characteristics of biz rels include independence, longevity, confidentiality, impartiality, etc.
An individual, group, or organization engaged in commercial activity with intent of earning a profit. Such activities include manufacturing, wholesaling, distribution, consulting, advertising, entertainment, etc.
JVs represent agreements entered into by two or more persons or enterprises interested in achieving a common economic goal. JV agreements often involve three basic elements: 1) resource contribution, 2) joint participation, and 3) compensation arrangement. Resource contributions refer to resources supplied by participants. Participants are obligated to provide their respective expertise, skills, facilities, financial backing, etc. Joint participation involves working towards common goals as opposed to pursuing independent interests. Compensation arrangements determine what each participant receives in return for their efforts. Usually, JVs last longer than short-term projects and operate relatively autonomously.
The way an organization is structured determines the degree of autonomy granted to organizational units. An organization may be organized horizontally if decision making power resides with higher levels of hierarchy or vertically if authority rests with lower levels. Horizontal structures give greater freedom to staff while vertical structures promote centralized decision making powers. In addition to deciding how decisions get implemented, administrators can decide what parts of the budget to allocate to given departments. Administrators can also establish policies and procedures aimed at improving efficiency. Vertical hierarchical structures tend to bring stability to an organization but can cause problems if leaders fail to communicate effectively. At times, horizontal structures allow more flexibility and creativity in problem solving since everyone participates. Other factors that affect organizational structures include size, location, mission statement, competition, market forces, personnel issues, etc.
Market represents the demand and supply conditions of a good or service. As long as there exists a willing seller and a potential buyer, we call it a market. Markets vary widely across societies and cultures. Generally speaking, markets occur when buyers seek sellers who offer items matching their needs and wants. In modern economies, markets play a vital role in facilitating trade among nations.
Supply chain management (SCM) deals with coordinating and integrating interactions between producers and consumers to ensure smooth flow of products throughout production, processing, packaging, shipping, warehousing, inventory, transportation, sales channels, distribution centers, warehouses, etc. SCMs can range from small local chains to massive international conglomerates. Due to globalization, SCMs now extend beyond national borders and link suppliers all around world.
Distribution channel refers to the process whereby products reach final users. Depending on nature of products being sold, distributors may handle shipments directly or indirectly. Direct distributors ship products straight to consumer while indirect distributors sell products to wholesale buyers first before passing them onto retailers. Distributors can fall into several categories based on their level of involvement. Sellers below middlemen are called manufacturers while those above middlemen are referred to as brokers. Wholesalers, importers, exporters, processors, assemblers, packagers, repackagers, converters, recyclers, transshippers, retailers, and agents are typical examples of intermediaries.
Demand side platform (DSP) refers to technology infrastructure designed to support direct interaction between customers and providers of goods or services. DSPs essentially integrate online systems enabling buyers and sellers to interact seamlessly. Buyer-side platforms connect customers looking for products to merchants offering them. Seller-side platforms enable sellers to list their products for sale on auction sites. Many industries rely heavily on DSPs. Online shopping malls, classified ads forums, websites, e-mail lists, etc., are just few examples of ways customers use DSPs.
The term "Society" can be used in various ways depending on the context and the author's purpose. The word Society has a broad meaning that covers several concepts like group, community or association. It also includes groups with an identifiable leader (a political party) or without one (like a family). When we talk about sociology, generally speaking it refers to any form of social structure composed of individuals who share common interests. However, this article will focus only on its first sense referred to by scientists as defined in Wikipedia:
Society (from Latin Socius, companion, associate): 1. A number of people united together for some particular purpose or activity within which they cooperate with each other rather than merely interacting as separate entities. 2. An organized collection of persons sharing similar characteristics, beliefs, etc. 3. One human culture characterized by shared institutions, values, attitudes, and practices. 4. Any large group of people having certain qualities in common. 5. In linguistics, a set of words that are morphologically related but not lexically synonymous. 6. A social unit consisting of two or more families living under the same roof. 7. A group formed around a central core due to similarity of interest. 8. A collective body of citizens united by their membership in a city, town, village, or organization. 9. A person or thing associated because of resemblance or relationship, such as relatives in blood or marriage. 10. A combination of elements forming something new, especially when done purposefully through conscious choice. 11. Socialization, the process whereby children acquire skills necessary to live socially. 12. Anthropology, the study of societies. 13. Science concerned with interrelationships among parts and wholes. 14. A business entity made up of shareholders owning stock shares. 15. A building designed to accommodate multiple tenants. 16. A set of rules governing behavior. 17. A group of organisms viewed collectively rather than individually. 18. A way of life involving customary routines of thought and action. 19. Law, customs, traditions, taboos, language, manners, morals, and so forth. 20. Human beings considered as rational agents capable of choosing between alternatives. 21. A type of computer software based on the idea of dividing users into groups. 22. People grouped together for purposes of discussion or instruction. 23. A single organism divided into cells. 24. A person or group of persons exhibiting a tendency toward conformity or uniformity. 25. The state of being unified or integrated. 26. The sum total of all the members of a given class, including those who may have died out. 27. Particular religious sect or branch of religion. 28. A specific group of plants, animals, fungi, protists, bacteria, etc., regarded as constituting a taxon. 29. A system of classification of living things based primarily upon physical differences. 30. A group of minerals having a common crystalline base and derived from chemical compounds. 31. Anything joined together with intent to bind. 32. A union of states allied against another power. 33. A country or territory occupied by enemy forces during wartime. 34. All the men, women, and children belonging to a race or nation. 35. A person or group of people sharing the same nationality or citizenship. 36. A group of people linked or connected by bonds of affection, loyalty, kinship, friendship, alliance, etc. 37. Civil communities linked together by commerce or industry. 38. A group of workers engaged in a common occupation. 39. A place where many events occur simultaneously. 40. A group of people who speak the same mother tongue. 41. Any kind of group. 42. A social grouping occupying a subordinate position relative to others. 43. A crowd gathered at a meeting. 44. Collective bargaining. 45. A group of investors holding stock in a corporation. 46. A company of lawyers practicing law. 47. A group of people cooperating to accomplish a task. 48. The state of being part of a larger whole. 49. Commerce, trade, exchange, buying and selling goods and services. 50. A group of people working together to accomplish a goal. 51. A collection of books, manuscripts, photographs, paintings, drawings, coins, medals, stamps, artifacts, documents, historical records, etc., collected over time and displayed for viewing pleasure. 52. A group of cells growing uncontrolled. 53. A mass of water held back behind a dam. 54. A small population inhabiting a relatively isolated area. 55. The period in history marked by rapid changes and development. 56. A group of criminals operating independently of outside law enforcement agencies. 57. Computer programmers creating programs using the C programming language. 58. The act of making a public announcement. 59. A group of scientists studying a particular subject. 60. A group of people involved in a profession or vocation. 61. A set of laws regulating conduct. 62. A group of actors performing scenes together. 63. The portion of sky visible above the horizon. 64. A group of people attending classes together. 65. A banded color pattern produced by blending pigments. 66. A group of people interested in the same topic. 67. A group of patients suffering from a disease. 68. A group of people standing in line waiting to enter a theater. 69. A group of people traveling together. 70. Groups of students sitting together in classrooms. 71. A group of people looking at a painting together. 72. A group of people playing cards together. 73. A group of people moving along side-by-side. 74. A group of players taking turns in a game. 75. A small lake surrounded by reeds. 76. A group of soldiers marching forward together. 77. Someone or something pertaining to a group of people. 78. A group of people listening to music together. 79. A musical ensemble playing together. 80. A group of people riding bicycles together. 81. A group of people seen walking down the street together. 82. A group of people seeing a play together. 83. A group of people watching television together. 84. A group of people talking while eating food together. 85. A group of people sitting together in chairs. 86. A group of people looking at maps together. 87. A group of people writing letters together. 88. A group of people reading newspapers together. 89. A group of people going for walks together. 90. A group of people playing games together. 91. A group of people running races together. 92. A group of people playing sports together. 93. A group of people learning how to swim together. 94. A group of people playing board games together. 95. A group of people playing card games together. 96. A group of people doing work together. 97. A group of people celebrating holidays together. 98. A group of people dining together. 99. A group of people dancing together. 100. A group of people singing together. 101. A group of people discussing politics together. 102. A group of people wearing matching clothes together. 103. A group of people driving cars together. 104. A group of people riding horses together. 105. A group of people playing video games together. 106. A group of people relaxing together. 107. A group of people engaging in sex. 108. A group of people smoking cigarettes together. 109. A group of people arguing together. 110. A group of people participating in amateur theatricals. 111. A group of people preparing meals together. 112. A group of people exercising together. 113. A group of people playing baseball together. 114. A group of people fishing together. 115. A group of people sailing boats together. 116. A group of people playing chess together. 117. A group of people playing bridge together. 118. A group of people playing checkers together. 119. A group of people playing tic-tac-toe together. 120. A group of people passing the ball in soccer. 121. A group of people playing dodgeball together. 122. A group of people playing kickball together. 123. A group of people swimming laps. 124. A group of people playing basketball together. 125. A group of people playing football together. 126. A group of people playing hockey together. 127. A group of people playing handball together. 128. A group of people playing volleyball together. 129. A group of people golfing together. 130. A group of people bowling together. 131. A group of people shooting baskets together. 132. A group of people cheering together. 133. A group of people attending church services together. 134. A group of people working together. 135. A group of people praying together. 136. A group of people planting trees together. 137. A group of people cooking together. 138. A group of people playing tennis together. 139. A group of people playing badminton together. 140. A group of people playing squash together. 141. A group of people playing lawn darts together. 142. A group of people playing bocce together. 143. A group of people playing horseshoes together. 144. A group of people playing pinochle together. 145. A group of people playing mahjong together. 146. A group of people playing Monopoly together. 147. A group of people playing dominoes together. 148. A group of people playing Go together. 149. A group of people playing noughts & crosses together. 150.
Society (from Latin "socius", meaning one who shares) is an association or group of people with common interests or aims. A society may be made up of private individuals, families, groups, organizations, cities, states or countries. The word has many different meanings, depending on its context. Society can also refer to any complex system that includes humans, such as social structure, economic systems, religious institutions, political movements etc. In sociology, which studies human societies, there are several ways to describe what constitutes a given society. These include: 1- cultural, ethnic, national or regional identities; 2- shared values; 3- geographical location; 4- occupation; 5- gender roles; 6- age/generation gap; 7- socioeconomic status; 8- classifications based upon education level.
The following paragraphs will provide you with definitions of most commonly used terms related to societal analysis. For each term provided below, we have included examples from our everyday lives so that you get a better idea about how this particular concept works in real life situations. We hope these examples will help you understand some of the concepts more clearly. Please note that the words listed below do not form part of formal vocabulary taught at universities but rather they are commonly used terms within various disciplines. If you ever come across a word that isn't listed here feel free to use Google Translate tool to find out its exact translation into English.
Sociologist's job is to analyze and explain human behavior. As mentioned earlier, society is simply defined as a collection of people sharing similar characteristics. When studying a population, sociologist identifies all distinctive features of the group, then tries to determine why certain behaviors occur among members of the same community. Sociology was first developed by Auguste Comte (17981842), who studied religion and politics from a positivist perspective. He believed that science could only gain knowledge through mathematics and measurements. Then he applied his philosophy to sociology because he saw no other way to achieve scientific method. His main contribution to sociology lies in establishing mathematical models that allowed him to predict future trends. Today we know that predictions usually fail and sociological research tends to focus on analyzing past events in order to learn lessons for the present. Therefore today sociology is mostly focused on explaining existing social phenomena while providing relevant solutions.
Company in economics refers to organization that provides goods or services to consumers. It consists of employees, investors and shareholders. Companies compete against their competitors using marketing strategies. They produce products and services in response to consumer needs and preferences. There are two major forms of companies: public limited companies (PLCs) and privately held corporations. Public limited companies are required to file annual financial reports with stock exchange whereas privately owned corporations don't need to report anything but share ownership information. Most large publicly traded firms operate under strict rules set forth by Securities Exchange Commission (SEC). Smaller privately owned businesses may choose whether to follow SEC rules or not. Private companies often control local economies. Their success depends largely on having good relationships with suppliers, customers and government officials.
A company is a legal entity created by law, organized as a separate taxable unit. Its purpose is to conduct business activities and generate income for owners. A company may offer variety of products and services and employ both permanent staffs and temporary workers.
There are generally four types of companies: sole proprietorship, partnership, Limited liability corporation (LLC) and public limited company (PLC). Sole proprietorships and partnerships are unincorporated entities. Unlike LLCs and PLCs, sole proprietorships and partnerships are personally responsible for liabilities incurred during operation. Partnerships and sole proprietorships are tax exempt. However, they must file yearly personal property tax returns if carrying inventory worth $500 or more annually. LLCs and PLCs are incorporated entities. They typically have perpetual existence unless dissolved voluntarily or involuntarily. To incorporate, an LLC or PLC requires either filing Articles of Organization with state authorities or incorporating via federal laws. State requirements vary greatly and therefore incorporation fees usually depend on location. Federal incorporation process involves less paperwork and lower costs.
Types of companies consist of:
* General Partnership: This type of company combines efforts of partners without formally organizing as corporate entities. Each partner owns equal amount of equity and profits generated by the firm.
* Limited Liability Partnership: Similar to general partnership except that partners agree to protect themselves from debts and obligations of the partnership when signing contracts. Partner's capital contributions are nonrefundable after three years of service.
* Corporation: This type of company offers greater protection than LLP. Shareholders own 100% of equity and directors manage day-to-day operations. Directors receive compensation for work performed. Some states allow shareholders to elect officers called board of directors. Officers are responsible for managing day-to-day affairs.
6- Social stratification and classification:
Social stratification occurs when a person belongs to multiple classes simultaneously. Classes differ from levels because they represent specific positions in hierarchy. People tend to think that they belong to highest class possible even if they actually live in low class area. Class boundaries change over time due to changing circumstances and priorities. Social stratification helps classify people according to factors like sex, race, ethnicity, nationality, geographic region, educational background, employment status, wealth, health condition and religion.
7- Socioeconomic Status:
This is another important aspect of classifying people. According to widely accepted model, socioeconomic statuses reflect relative position of people in society. Three broad categories of socioeconomic statuses exist: upper class, middle class and lower class. Upper class represents wealthiest 10%, middle class comprises 50% of population and lower class accounts for remaining 40%. Wealthy people enjoy higher quality of living compared to poor people. Other aspects of socioeconomic statuses include access to housing, food supply, healthcare resources, transportation and entertainment facilities. Another popular way to measure socioeconomic status is to divide population into rich and poor. Poor people spend majority of their incomes on necessities including rent, utilities, groceries, clothing and medical care while richest citizens take advantage of luxury items.
8- Age/Generation Gap:
Ageism or generational conflict describes difference between older generation and younger generations regarding attitudes towards issues ranging from career choice, family planning, immigration policy, workplace practices, lifestyle choices, sexual orientation, recreational drug usage, environmental policies, foreign relations, military draft, abortion rights, gun control and gay marriage. Younger millennials (born 1980-1999) are considered the largest segment of Generation Y (also known as Millennials). Young adults aged 18-34 make up 80 percent of U. S. adult population. Older baby boomers (those born 1940-1964) comprise 20 percent of total population. Baby boomers were influenced heavily by post World War II American culture and became influential leaders in 1960s counterculture movement. Boomers' values reflect strong emphasis on self reliance, individual freedom, hard work, sacrifice, patriotism, respect for authority and traditional beliefs. Many young adults consider boomers outdated and irrelevant because of conservative views associated with war, racism, sexism and homophobia. Gen X (those born 1965-1980) is sandwiched between boomer and millennial generations. Gen xers are referred to as yuppies, hipsters, slackers, surfers, dot com entrepreneurs, techno freaks, gamers and geeks because they grew up in technological era where technology plays vital role in daily routines. Gen Xers embrace diversity in music, fashion, art, literature, cinema, television shows and movies.
To recapitulate, let us summarize key points discussed above.
Society is defined as collection of people sharing similar interests.
Companies consist of employees, investors and shareholders.
Definition of company varies from state to state.
Four basic types of companies exist: sole proprietorship, partnership, Limited liability corporation (LLC) and public limited company (PLC).
Social stratification divides population into upper class, middle class and lower class.
Ageism or generational conflict refers to differences between old and new generations regarding attitude toward issues ranging from career choice, family planning, immigration policy, workplace practices, lifestyle choices, sexual orientation, recreational drug usage, environmental policies, foreign relations, military draft, abortion rights, gun control and gay marriage.
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