3 WHAT IS AN ORGANISATION?
After studying this chapter, you should know and understand:
- the different ways in which an organisation can be become a legal entity;
- the situations for which the different types of legal entity are appropriate;
- what a limited company is and why it is the preferred legal form for a commercial organisation;
- what is meant by the terms takeover, merger, management buyout and outsourcing;
- the most important ways in which the law regulates limited companies.
3.1 THE ROLE OF ORGANISATIONS
An organisation is a group of people working together in a formal way. Our life in a modern society is dominated by our interactions with organisations. We go to school and to college; schools and colleges are organisations. We or our ...