business administration ing. pavla Řehořová, ph.d. phone: +420 48 535 2353 e-mail:...
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Business AdministrationBusiness Administration
Ing. Ing. Pavla Řehořová, Ph.D.Pavla Řehořová, Ph.D.
Phone: +420 48 535 23Phone: +420 48 535 235353
E-mail: E-mail: pavla.rehorovapavla.rehorova@@tul.tul.czcz
Rules of BUSINESS Rules of BUSINESS ADMINISTRATION COURSEADMINISTRATION COURSE
1) All students:1) All students:
Attendance of seminars (xAttendance of seminars (x ? ? absences) absences)==>> active work at seminars active work at seminars
Rules of BUSINESS Rules of BUSINESS ADMINISTRATION COURSEADMINISTRATION COURSE
2) All students:2) All students:
2 students = 1 semestral project 2 students = 1 semestral project
„„Firm Establishment“ (and its presentation)Firm Establishment“ (and its presentation)
(i. e. foundation documents, strategic (i. e. foundation documents, strategic plan, SWOT analysis, balance sheet, plan, SWOT analysis, balance sheet, depreciations, production and sale plan …)depreciations, production and sale plan …)
Rules of BUSINESS Rules of BUSINESS ADMINISTRATION COURSEADMINISTRATION COURSE
3) NISA students:3) NISA students:
Exam: written test – minimum 60 %Exam: written test – minimum 60 %
Syllabus:Syllabus:
• 25. 10. 07 – Legal forms of business• 01. 11. 07 – my absence (selfstudy, home preparation)
Marketing activities• 08. 11. 07 – Organisation structure• 15. 11. 07 – Capital and property structure• 22. 11. 07 – Cost and Benefits, Cash Flow• 29. 11. 07 – Revision lesson• 06. 12. 07 – Financing of the enterprise, Future Value of Money• 13. 12. 07 – Investment activities• 20. 12. 07 – Human resource management, Taxes• 03. 01. 07 – Presentation of projects• 10. 01. 08 – 1st term of exam
Classification of BusinessClassification of Business
Enterprises Enterprises
Typology of enterprisesTypology of enterprises
Legal formsLegal forms Size of enterpriseSize of enterprise Type of productionType of production Sectors and branch of economySectors and branch of economy
Size clasificationSize clasification
a) Microenterprise: number of employees < 10,assets < 180 mil. CZK ornet turnover < 250 mil. CZK
b) Small enterprise: number of employees < 50,assets < 180 mil. CZK ornet turnover < 250 mil. CZK
c) Medium enterprise: number of employees < 250, assets< 980 mil. CZK or net turnover < 1 450 mil. CZK
d) Great enterprise
Size clasification - EUSize clasification - EU
a) Microenterprise: number of employees < 10,assets < 2 mil. EUR ornet turnover < 2 mil. EUR
b) Small enterprise: number of employees < 50,assets < 10 mil. EUR (in 1996 5 mil. EUR) ornet turnover < 10 mil. EUR (in 1996 7 mil. EUR)
c) Medium enterprise: number of employees < 250, assets< 43 mil. EUR (in 1996 27 mil.) or
net turnover < 50 mil. EUR (in 1996 40 mil. EUR)
d) Great enterprise
Enterprise share according to Enterprise share according to the number of employeesthe number of employees
Number of employeesNumber of employees % of enterprises% of enterprises
1 - 91 - 9 96,096,0
10 - 4910 - 49 3,13,1
50 - 24950 - 249 0,70,7
250 and more250 and more 0,20,2
Type of productionType of production
Enterprises with production:
a) Single-part production – small amount of the same products
b) Batch (line) production – production of the same type of product repeating in batches;
Size of batch:
b1) small
b2) medium
b3) great
c) Continual production – production of great amount of small type of products
SectorsSectors
1.Primary sector (primary production, basic industry, e.g. agriculture, forestry, mining industry)
2.Secondary sector (manufacturing industry, e.g. manufacturing, food, textile)
3.Terciary sector (non-productive enterprises, e.g. trade, transport, banks)
Legal formsLegal forms
1. Natural person (tradesman, enterpreneur)
2. Corporations
3. Cooperative
4. State enterprises, state organisations
5. Budgetary organisation
6. Contributory organisation
7. Foundation
8. Association
9. Not-for-profit organisation
10. Others
Legal formsLegal forms
Choice of legal form depends on these factors:
1. liability 2. competence to the management3. number of founders4. claims to the initiatory capital5. administrative costingness6. share in profit/loss7. financial possibilities8. tax burden9. duties of publication
Organisational Structure Organisational Structure of Czech Economyof Czech Economy
Legal formLegal form %%
Total subjectsTotal subjects 100100
State enterprisesState enterprises 1,651,65
CorporationsCorporations 13,8413,84 - joint stock companies- joint stock companies 1,801,80
CooperationCooperation 1,741,74
Sole enterpreneurSole enterpreneur 75,9375,93
Individual farmersIndividual farmers 6,846,84
Types of business organisationsTypes of business organisations
a) personal established by 2 and more people,partners participate on business,collective company liability - co-partnership- limited partnership
b) capital capital participation of partners on business, they do not participate personally on
business,- limited company – Ltd., - joint-stock company (public limited company – Plc.)
Sequence of establishment Sequence of establishment of companiesof companies
1) Signing of partnership contract
2) Deposit the capital in the bank
3) Application in the licence authority
4) Registration in the Companies register
Natural Person (Sole trader)Natural Person (Sole trader)
Simpliest legal form of business organizationSimpliest legal form of business organization Proprietor – sole owner of business enterprise Proprietor – sole owner of business enterprise
and is able to exercise complete control over its and is able to exercise complete control over its operationsoperations
Sole trader is liable for the debts of business to Sole trader is liable for the debts of business to the full extent of his personal assetsthe full extent of his personal assets
Sole traders are taxed on the individual´s Sole traders are taxed on the individual´s personal income tax return at a progressive rate personal income tax return at a progressive rate from 1from 155%%
Natural Person (Sole trader)Natural Person (Sole trader)
Natural person can be only a person who:Natural person can be only a person who:- is older than 18,- is older than 18,- is unblemished,- is unblemished,- is eligible (competent) to the legal acts,- is eligible (competent) to the legal acts,- does not have any tax back-payment.- does not have any tax back-payment.
= we distinguish three types of Natural Person= we distinguish three types of Natural Person= according to these types people need a special = according to these types people need a special
licence and different number of working licence and different number of working experience yearsexperience years
LtdLtd
Liability of ownersLiability of owners together into amount of outstanding deposit
Minimum of capitalMinimum of capitalmin. min. 200 000 CZK200 000 CZK
each partner min. each partner min. 20 000 CZK20 000 CZK
Minimum of partners (founders)Minimum of partners (founders) min. 1, max. 50min. 1, max. 50
InstitutionsInstitutions
General meetingGeneral meeting – highest – highest institutioninstitution
ExecutivesExecutives – corporate inst. – corporate inst.
Advisory boardAdvisory board - voluntary - voluntary
Profit/loss sharingProfit/loss sharing aaccording of share of business ccording of share of business shareshare
Limited liability company Limited liability company ((Společnost s ručením omezenýmSpolečnost s ručením omezeným))
Joint stock company Joint stock company Akciová společnost (Corporation – USA)Akciová společnost (Corporation – USA)
Legal entity Legal entity is is separate and distinct from the separate and distinct from the pepeople ople who are its ownerswho are its owners
It has legal distinction between the corporation It has legal distinction between the corporation and its stockholdersand its stockholders
There is a separation of roles – stockholders are There is a separation of roles – stockholders are owners, president and other executives manage owners, president and other executives manage the corporation (company)the corporation (company)
Company in which each owner has unlimited Company in which each owner has unlimited liability. Joint stock company combinesliability. Joint stock company combines features features of a corporation and a partnershipof a corporation and a partnership
Joint stock companyJoint stock companyThe process of becoming a corporation, call The process of becoming a corporation, call
incorporationincorporation, gives the company separate , gives the company separate legal standing from its owners and protects legal standing from its owners and protects those owners from being personally liable those owners from being personally liable in the event in the event whenwhen the company is the company is losinglosing (a condition known as limited liability). (a condition known as limited liability).
Incorporation also provides companies with Incorporation also provides companies with a more flexible way to manage their a more flexible way to manage their ownership ownership sstructure.tructure.
Joint stock companyJoint stock company
Share capital must be at least CZK 2 million.Share capital must be at least CZK 2 million. The company must put at least 20 % of the The company must put at least 20 % of the
capital into a reserve fund, which is founded by capital into a reserve fund, which is founded by after-tax profits.after-tax profits.
The accounts must be audited annually. The accounts must be audited annually. There must be at least three members on the There must be at least three members on the
board of directors, and each member must be a board of directors, and each member must be a Czech citizen or resident. Czech citizen or resident.
Joint stock companyJoint stock company
Liability of stock holdersLiability of stock holders nonenone
Minimum of capitalMinimum of capital
min. min. 2 000 000 CZK2 000 000 CZK without tender of without tender of stocksstocks
min. min. 20 000 000 CZK20 000 000 CZK with tender of with tender of stocksstocks
Minimum of partners Minimum of partners (founders)(founders)
min. 2 natural person or 1 corporate min. 2 natural person or 1 corporate bodies (legal entities)bodies (legal entities)
InstitutionsInstitutions
Shareholder´s meetingShareholder´s meeting
Board of directorsBoard of directors
Advisory boardAdvisory board – min. 3 members – min. 3 members
Profit/loss sharingProfit/loss sharing aaccording of share of nominal value of ccording of share of nominal value of stock to all stocksstock to all stocks
Limited partnershipLimited partnership((Komanditní společnostKomanditní společnost))
Liability of owners Liability of owners
Complementar– Complementar– Sole traderSole trader,, liable liable for the debts of business to the full for the debts of business to the full extent of his personal assetsextent of his personal assets
Commanditist– amount of Commanditist– amount of outstanding depositoutstanding deposit
Minimum of capitalMinimum of capital Commanditist minimum Commanditist minimum 55 000000 CZK CZK
Minimum of partners Minimum of partners (founders)(founders) 1 + 11 + 1
Profit/loss sharingProfit/loss sharing
profitprofit 1 : 1, 1 : 1,
complementars complementars - - the same amountthe same amount,,
commanditist commanditist - - among their among their depositsdeposits
lossloss – complementars the same – complementars the same amount amount (equal share)(equal share)
Co - partnershipCo - partnership ((Veřejná obchodní společnostVeřejná obchodní společnost))
Liability of owners Liability of owners ttogether liability for the debts of ogether liability for the debts of business to the full extent of business to the full extent of personal assetspersonal assets
Minimum of capitalMinimum of capital iis not defineds not defined
Minimum of partners (founders)Minimum of partners (founders) 2 natural person or 2 corporate 2 natural person or 2 corporate bodies (legal entities)bodies (legal entities)
Profit/loss sharingProfit/loss sharing eequal sharequal share
Cooperative Cooperative ((DružstvoDružstvo))
Liability of ownersLiability of owners nno liabilityo liability
Minimum of capitalMinimum of capital min. min. 50 00050 000 CZKCZK
Minimum of partners (founders)Minimum of partners (founders) min. 5 partners or 2 corporate min. 5 partners or 2 corporate bodies (legal entities)bodies (legal entities)
InstitutionsInstitutions
Member meetingMember meeting
BBoard of directorsoard of directors – corporate – corporate inst.inst.
Control commisControl commisssionion – 3 – 3 membersmembers
Profit shareProfit share aaccording to level of member ccording to level of member depositdeposit
SeminarSeminar
Groups – 3-4 people Groups – 3-4 people
(German + Polish + Czech)(German + Polish + Czech) Legal forms of enterprises in Germany and Legal forms of enterprises in Germany and
PolandPoland Comparison of these forms with Czech Comparison of these forms with Czech
systemsystem Capital and personal companiesCapital and personal companies