Legal Form of Ownership and Objectives of Apple Inc. and American Cancer Society (Essay Sample)
Choose two different types of organization and write about them in answer to the following questions.
Explain what type of business each organization is including their legal form of ownership (200 – 300 words)
Identify the objectives of both companies and how this relates to the type of company it is (200 – 300 words)
Identify the range of stakeholders and their interest in the organisations (200 – 300 words)
Explain how the organisations operate in order to achieve their objectives (200 – 300 words)
Make sure that the two types of organization you choose are different to each other. See the example provided of a profit maximising partnership like Ford Motor Co. and a welfare maximising organization like John Hopkins Hospital.
MARKETS AND ECONOMY
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Type of business and its legal form
Apple Incorporation is a profit-oriented company cofounded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976. The company owns several technological hardware devices (iPhone, iMac, iPod, iWatch, and iPad among others), softwares (MacOS, Shazam, Siri, and iLife among others), and services (iTunes, Apple Card, Podcasts, App Store, and AppleCare among others) (Apple Inc., 2020). The company has subsidiaries (Beats Electronics, Apple Sales International, and Braeburn Capital among others), acquisitions (Lala, NeXT, and PrimeSense among others), and Partnerships (AIM alliance, Rockstar Consortium, and iFund among others) spread across the world. Based on legal form, the company is a public owned company since its Initial Public Offer (IPO) on December 12, 1980 when it went public meaning it is owned by shareholders, but managed by board of directors (Grabot et al., 2014; Yasuhiro & Yoshiteru, 2015). The Vanguard Group Inc. (7.36%), Berkshire Hathaway Inc. (5.6%), and BlackRock Fund Advisors (4.34%) are some of the significant equity shareholders with a combined controlling capacity of over 450 million share (17.31%) (Verizon Media, 2020).
On the other hand, American Cancer Society is a not-for-profits organisation that formed in 1913. It is one of the oldest research centres in the world today. It focuses on cancer awareness, care, and research to support cancer patients. The mission of the charitable organisation is to save lives, celebrate lives, and led in the fight for a cancer-free world (American Cancer Society, 2020). The organisation is raises revenue by fundraising events, federal campaigns, government grants, and contributions, grants & gifts. They run charitable services such as free rides to cancer centres, screening, and accommodation for those who cannot afford the services. They also invest in cancer research programs and education campaigns on the illness. A legal perspective shows that a CEO heads the organisation and most of their support staff are on a voluntary basis towards offering cancer care and research.
Objectives and how they relate to the type
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