An Analysis of Richer Sounds PLC Essay -- Business Management TQM Essa

An Analysis of Richer Sounds PLC1.0 A Report on How Richer Sounds Functions4.1 A Classification of the care according to its ownership, andan explanation of the benefits and constraints of this type ofownershipRicher Sounds is part of the Private Sector, which consists ofbusinesses who seek to make a profit. Julian Richer is the sole ownerof Richer Sounds, which means he has plentiful control over the business,but the Directors run it. Richer Sounds is a regional unlisted PublicLimited Company, which means it is not listed on the Stock Exchange.Julian Richer is owner of all the shares of Richer Sounds, but theofficial name of the company is still Richer Sounds PLC, even thoughthe shares are not for sale to the public. Julian Richer also gainsthe advantage of restrict liability, which means he is not personallyliable for any of the companys debts. The most he can lose is themoney he has invested in the company, so he has not put any of hispersonal possessions at risk.4.1.1 Richer Sounds Legal RequirementsRicher Sounds also lose legal requirements that it has to abide bysuch as they must have its name and address, ect registered at theCompanies House where they will also have to send annual returns andfinancial statements. This is one of the disadvantages of being aLimited Company the fact they have lots of paperwork due to annualstatements. The advantages and disadvantages of Richer Sounds areshown further on in the report. Also the financial affairs of RicherSounds have to be published because the companys stakeholders need tosee how the business is performing.4.1.2 Memorandum and Articles of AssociationThe documentation that Richer Sounds is likely to encou... ...followswww.richersounds.co.ukwww.msn.com (search engine) searched words such as Richer Sounds PLC,Richer Sounds products and prices, communication.Textbooks I used are as followsBusiness Studies for you, authors David Needham and Robert DransfieldBusiness Studies, authors Ian Marcouse, Andrew Gi llespie, BarryMartin, Malcolm Surridge, Nancy Wall.Line relationship . Each person has a superior and stave know whomthey should report and for which staff or work area they areresponsible for.In ceremonious relationship. Staff have frequent contact through their work,but have no formal relationship.Staff relationship. This is where no formal authority exists, butadvice is sought.Lateral relationship where the staff in different departments withthe same level of responsibility need to co-operate or co-ordinatetheir activities.