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supervisory board

C.E.O. - chief executive officer

board of management

head of departement

chairman

managing director

in charge of
head of
is responsible for

heads
runs
leads

The board of management and its directors

head of departement is the leader

financial dep.
R&D dep.
marketing dep. (sales, PR, advertising)
production dep.

sole trader
partnership
private limited company (Ltd)

+ simple & inexpensive to set up
+ you are self-employed
+ easy to get a loan (unlimited liability)

- have to rely on your on knowledge
- can loose your private property (unlimited liability)
- difficult to take time off for holidays or if you´re sick

+ pool their know-how (solve problems)
+ share costs for rent, staff,..
+ easier to take time off

- disputes can lead to splitting up the firm
- liable for ALL debts
- partner can spoil your reputation

+ limited liability
+ people are not personally responsible ( legal entity when sued)
+ company cannot be taken over by  buying a all  the shares (permission of all shareholders)

- expensive and complicated to set  up
- minimun of two people (not self-employed)
- difficult to get a loan (limited liability)

produce a specific product, on time, at a minimun cost
quality and product reliability
producing the maximum possible volume of output
> fully utilizing the plant and work force
> reducing lead time
generating the maximum Return on assets
flexibility for product- and volume changes

faster lead time > more time for maintenance an training courses
> higher qualification of employees > higher product quality

closer cooperation to fewer suppliers

no overproduction> inventory waste is eliminated
> quicker reaction to demand


> calculation is more precise > cost reduction

high starting costs

complicated logistics > higher transport costs

limited capacity > lack of space for emergencies
> dependency on suppliers

risk of strikes > ore vulnerable

economies of scale are difficult to achieve

supported by
is assisted by

reports to
is accountable to
is responsible to

involves
consists of

comprises
consists of
is made up of

name of company
chairman
type (plc,Ltd,..)
logo, slogan
headquarters
locations
business sector
subsidiaries
products
customers
turnover
...

chairman (non - executive)
managing director (executive)