1.2 Types of business entities

• Distinguish between private sector and public sector organizations

• Ownership, purpose, funding, and accountability differ across sectors

• Evaluate features of sole traders, partnerships, privately held companies, and publicly held companies

• Compare ownership, liability, control, finance, continuity, and legal status

• Evaluate private sector companies, public sector companies, and cooperatives as social enterprises

• For-profit social enterprises combine commercial activity with social or environmental aims

• Evaluate non-governmental organizations (NGOs)

• NGOs pursue social, humanitarian, or environmental aims without distributing profit to owners