Business Management · Unit 1: Introduction to business management

1.2 — Types of business entities

Business Management · SL / HL · syllabus-mapped notes

1. Private vs public sector

   The private sector is owned and run by individuals or companies for profit; the public sector is owned and run by the government to provide services.

2. For-profit commercial organizations

3. For-profit social enterprises

4. Non-profit social enterprise

   Non-governmental organizations (NGOs) are private, non-profit bodies pursuing social or environmental goals, funded largely by donations and grants.