IGCSE Enterprise: Specimen Questions with Answers 21 - 22 of 49

Passage

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 21 (8 of 12 Based on Passage)

Edit

Write in Short

Short Answer▾

Partnership is distinguished from three other basic relationship types: contracting, extension, and co-option or gradual absorption. Answer the following questions-

What do you mean by partnership firm?

Explanation

Any two or more than two persons who have entered a partnership on legal terms to business together are collectively called as a “Partnership Firm” . This firm does not have a separate legal entity separate from its members. Partnership is the relationship between persons who have agreed to share profits of a business carried on by all or any one of them acting for all.

Question 22 (9 of 12 Based on Passage)

Edit

Write in Short

Short Answer▾

Give two advantages and disadvantages of sole trader firm

Explanation

Advantages of Sole Trading Include

  • You are the owner of the business and keep all profits with yourself.
  • You will have unlimited liability for debts as your private assets and business assets would not be treated separately.
  • You will be burdened with the responsibility for making day-to-day business decisions.

Disadvantages of Sole Trading Include

  • You will have unlimited liability for debts as your private assets and business assets would not be treated separately.
  • You will be burdened with the responsibility for making day-to-day business decisions.

Developed by: