Lesson

BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

Forms of Business Organizations
QUARTER 3 MODULE 1

JOIN THE CLUB!

Have you ever been part of school organization or club? It was indeed a happy and fulfilling day in
your Junior High School years.

Are you a part of a music or glee club? Maybe, you are also a varsity player of the school ’ s
basketball and volleyball teams or are you a school paper writer who participates in different journalism
contests outside the school?

What is your position in the club? How many are you in the organization? Who usually has the last
say? Who are your leaders? What are you doing in ensuring success in every activity? Do you feel the
fulfillment of being part of an organization? What did you learn from being an officer or a member of a
club?

Forms of Business Organization according to ownership

Sole Proprietorship is the type of business entity owned and operated by a single person.

A partnership is a business owned by two or more person who contribute resources into the
entity.
The partners divide the profits of the business among themselves.

Corporation is an enterprise chartered by law with most of the legal rights of a person including to
conduct a business, to own and sell property, to borrow money, to sue and be sued. A corporation
is a business organization that has a separate legal personality from its owners.
Ownership in a stock corporation is represented by shares of stock.

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