IGCSE Enterprise: Specimen Questions with Answers 19 - 21 of 49

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Case Study: 4

Jones and Little (2000) present a critical analysis of the role of partnership in new public management in the UK, in a paper called Rural challenges: partnership and new rural governance. The authors note that: “whatever definition is favored, partnerships or networks between the public, private and voluntary sectors are an important part of what constitutes novel forms of governance” in the UK. The authors question the uncritical promotion of this form of governance, which emerged from the “traumatic neo-liberal restructuring of urban politics in the 1980՚s” and its transfer to rural areas, where it brings the requirement for rural organizations and In the field of public policy, partnership is often viewed as the second generation of efforts to bring competitive market discipline to bear on government operations (after the first generation efforts of privatization) . The authors argue that contemporary discussions of partnership approaches lead to submergence of key issues about power relations, accountability, public spending levels, and equitable resource allocation in the systematic addressing of the needs of rural communities. They question the culture of partnership and its suitability as a means of securing effective rural regeneration, arguing for greater scrutiny to be paid to its increased political currency and practical applications.

In Government – non-profit partnership: A defining framework, Brinkerhoff (2002a) notes that partnership has emerged as an increasingly popular approach to privatization and government – non-profit relations. However, there is no consensus on what partnership means, and its practice varies. The author provides a useful review of partnership literatures and refines the definition of partnership using the concepts of ‘mutuality’ and ‘organizational identity.’ These concepts are used as the two axes of an inter-organizational relationship matrix, in which partnership is distinguished from three other basic relationship types: contracting, extension, and co-option or gradual absorption.

Question 19 (6 of 12 Based on Passage)

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What do you understand by social enterprise?

Explanation

Social Enterprise and Non-Profit Organization
S. no.Social enterpriseNon-profit organization
1.Can have for profit, non-profit or a hybrid of two modelsIt is strictly for non-profit model
2.It is driven by social and financial goalsIt is driven only by social goals
3.Rely primarily on their earned income making it self-sustainableRely primarily on individual donors or charitable contributions
4.Markets itself using commercial and social advertisingMarkets the social cause to publicize and advertise itself.

Question 20 (7 of 12 Based on Passage)

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What is a sole trader firm?

Explanation

A sole trader firm also refers to a sole proprietorship, is an unincorporated business which includes just the owner who has the legal rights of the company, he pays the personal income tax on the profits earned by the business.

This type of firm is the easiest type of business to start because it doesn՚t have government regulation.

Question 21 (8 of 12 Based on Passage)

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How are business decisions made in partnerships?

Explanation

Small businesses are often created with the partnership because they pool their resources, capital, and divide shares into all the partners. When a decision must be taken, all partners sit along and based on the business is structured, it influences the decision made in partnership.

Based on the contract or specified factors of the business, partners share losses and gains or income. Most partnerships go through a contractual agreement or Articles of Partnership, that includes the business details, dissociations, responsibilities, profit/loss distribution, and more.

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