B Com Exam > B Com Notes > Entrepreneurship & Small Businesses > Business Groups and Family Business in India - Types of Business Entities
Business Groups and Family Business in India - Types of Business Entities | Entrepreneurship & Small Businesses - B Com PDF Download
1: Business Group
A business group or corporate group refers to a group of companies including holding and subsidiary companies which are under the same management and are subject to same administrative and financial controls. In a business group, all the key managerial positions are held by the virtue of skill/talent and not by status or association to a particular family.
2: Family Business
A family business is aggregate of two terms: family and business.Family business is a business run by a particular family.Initially when a business is started it is like any ordinary business but as the time passes, various generations of the family gets involved and it becomes a family business where key managerial positions by held by the family members.
In a family business decision making authority lies with only the family members; family members may be close or extended, may be connected through marriage or blood. Decision making is centralized at the top level of the management.In a family owned business top level positions are held by family members across generations.Not only decision making lies in the hands of family members but the control and ownership also rest with the family members.One of the family members is major shareholder who acts CEO of the company.
Another unique feature of the family business is that there is no separation of ownership and management.
In India, after independence there were mainly family businesses in the private sector. Famous family businesses that existed at that time were: Tata, Birla, Dabur, Bajaj and a few others. Since 1980’s, when the economic environmentin India became less restrictive, many family businesses have flourished. Sincethen number of businesses both family and non-family have grown exponentially. It is usually said the first generation builds, the second generation holds, and the third generation ends the family business.But this myth has been broken in India.In India we have many first,second and third generation family business.Famous
Third Generation Business: Tata, Birla,Bajaj group,Hero group,Dabur
Second Generation Business: Reliance, Wipro
First generation Business: Adani Group,Future Group,Bharti Enterprises
The document Business Groups and Family Business in India - Types of Business Entities | Entrepreneurship & Small Businesses - B Com is a part of the B Com Course Entrepreneurship & Small Businesses.
All you need of B Com at this link: B Com
|
49 videos|74 docs|22 tests
|
FAQs on Business Groups and Family Business in India - Types of Business Entities - Entrepreneurship & Small Businesses - B Com
| 1. What are the different types of business entities in India? |  |
Ans. In India, there are several types of business entities, including sole proprietorship, partnership, limited liability partnership (LLP), private limited company, and public limited company. Each entity has its own advantages and legal requirements.
| 2. What is a sole proprietorship in India? | |
Ans. A sole proprietorship is a type of business entity where an individual owns and operates the business. It is the simplest form of business and does not require any formal registration. The owner is personally liable for all the business liabilities and has complete control over the business operations.
| 3. What is a private limited company in India? | |
Ans. A private limited company is a type of business entity that is privately held by a small group of shareholders. It requires a minimum of two directors and two shareholders. The liability of the shareholders is limited to the amount they have invested in the company. A private limited company is required to follow certain legal formalities and regulations.
| 4. What is a partnership in India? | |
Ans. A partnership is a type of business entity where two or more individuals come together to carry out a business with the goal of making a profit. The partners share the profits, losses, and liabilities of the business. A partnership can be registered or unregistered, but it is advisable to register the partnership to avail legal benefits and protection.
| 5. What is a family business in India? | |
Ans. A family business in India is a business entity that is owned and operated by members of the same family. It can be any type of business entity, such as a sole proprietorship, partnership, or private limited company. Family businesses play a significant role in the Indian economy and often pass on from one generation to another.
Related Exams
About this Document
|
4.67/5 Rating |
|
Dec 23, 2024 Last updated |
Document Description: Business Groups and Family Business in India - Types of Business Entities for B Com 2024 is part of Entrepreneurship & Small Businesses preparation.
The notes and questions for Business Groups and Family Business in India - Types of Business Entities have been prepared according to the B Com exam syllabus. Information about Business Groups and Family Business in India - Types of Business Entities covers topics
like and Business Groups and Family Business in India - Types of Business Entities Example, for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Business Groups and Family Business in India - Types of Business Entities.
Introduction of Business Groups and Family Business in India - Types of Business Entities in English is available as part of our Entrepreneurship & Small Businesses
for B Com & Business Groups and Family Business in India - Types of Business Entities in Hindi for Entrepreneurship & Small Businesses course.
Download more important topics related with notes, lectures and mock test series for B Com
Exam by signing up for free. B Com: Business Groups and Family Business in India - Types of Business Entities | Entrepreneurship & Small Businesses - B Com
Description
Full syllabus notes, lecture & questions for Business Groups and Family Business in India - Types of Business Entities | Entrepreneurship & Small Businesses - B Com - B Com | Plus excerises question with solution to help you revise complete syllabus for Entrepreneurship & Small Businesses | Best notes, free PDF download
Information about Business Groups and Family Business in India - Types of Business Entities
In this doc you can find the meaning of Business Groups and Family Business in India - Types of Business Entities defined & explained in the simplest way possible. Besides explaining types of
Business Groups and Family Business in India - Types of Business Entities theory, EduRev gives you an ample number of questions to practice Business Groups and Family Business in India - Types of Business Entities tests, examples and also practice B Com
tests
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
study material
,Business Groups and Family Business in India - Types of Business Entities | Entrepreneurship & Small Businesses - B Com
,Sample Paper
,practice quizzes
,ppt
,Semester Notes
,Previous Year Questions with Solutions
,Extra Questions
,shortcuts and tricks
,Business Groups and Family Business in India - Types of Business Entities | Entrepreneurship & Small Businesses - B Com
,video lectures
,mock tests for examination
,Summary
,MCQs
,Free
,Important questions
,Business Groups and Family Business in India - Types of Business Entities | Entrepreneurship & Small Businesses - B Com
,Viva Questions
,Exam
,past year papers
,Objective type Questions
;
Additional Information about Business Groups and Family Business in India - Types of Business Entities for B Com Preparation
Business Groups and Family Business in India - Types of Business Entities Free PDF Download
The Business Groups and Family Business in India - Types of Business Entities is an invaluable resource that delves deep into the core of the B Com exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Business Groups and Family Business in India - Types of Business Entities now and kickstart your journey towards success in the B Com exam.
Importance of Business Groups and Family Business in India - Types of Business Entities
The importance of Business Groups and Family Business in India - Types of Business Entities cannot be overstated, especially for B Com aspirants.
This document holds the key to success in the B Com exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Business Groups and Family Business in India - Types of Business Entities Notes
Business Groups and Family Business in India - Types of Business Entities Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Business Groups and Family Business in India - Types of Business Entities.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Business Groups and Family Business in India - Types of Business Entities Notes on EduRev are your ultimate resource for success.
Business Groups and Family Business in India - Types of Business Entities B Com Questions
The "Business Groups and Family Business in India - Types of Business Entities B Com Questions" guide is a valuable resource for all aspiring students preparing for the
B Com exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Business Groups and Family Business in India - Types of Business Entities on the App
Students of B Com can study Business Groups and Family Business in India - Types of Business Entities alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Business Groups and Family Business in India - Types of Business Entities,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Business Groups and Family Business in India - Types of Business Entities is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup