Business Organisations in Maldives

There are mainly four types of organisations. Private sector organisations, Public sector Organisations, voluntary organisations and cooperatives. Private Sector: In the private sector, businesses operate in order to maximize the profits. They raise finance by Issuing shares, borrowing loans from banks etc. They are owned and controlled by private parties. For example Bank of Maldives, Amin Construction pvt ltd, Haza Construction pvt ltd. Their main aim is to maximize the profits. Public sector: Public sector organisations are owned and controlled by the government.

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The main im is to take the responsibilities of the public. They do not operate for profits. For example: Maldives Police Service, IGMH, MNDF etc Voluntary Organisations: It Is run by Individuals. They do not operate for profits. And they do not get paid for the works they do. For example; Diabetic Society of Maldives, Beautiful Eyes of Maldives, Blue peace etc Cooperatives: There are three main types of cooperatives. Consumers Cooperatives: It Is a cooperative business owned by Its consumers for their benefits. Their maln alm is to fulfil the needs of the members of the cooperative.

They do not operate for rofit. Producers Cooperatives: It is also known as workers cooperative where the worker owners own and control the cooperative. They protect the rights of workers. Retailers Cooperatives: Their main aim to get discounts from the manufacturers when they buy in bulk quantities. These organisations can be classified in to three sectors: Primary Sector: These Industries are Involved In extraction or production of raw materials. Eg; Fishing, mining, firming Secondary Sector: These industries are involved in processing of raw materials. Eg; Manufacturing, building, factory works, fish canning

Amin Construction and Haza Construction will be in secondary sector as they are doing construction works. Tertiary Sector: These are the industries which provide services. Eg; Banking, transport, doctors. Bank of Maldives will be In tertiary sector. Because they provide service to their customers. LOI (Pl . 2): Individuals, groups, government and all who can influence an organisation is known as Stakeholders. They are divided in to two groups. stakeholders: Effect the business indirectly. In the private sector their main aim is to maximize the profits. HAZA Construction also perates to maximize the profits.

But this is not the only objective of them. They also tries to meet the objectives of different stakeholders in order to improve their performance. Some of the main stakeholders are Shareholders, Managers and directors, customers, suppliers, financial corporations, government and corporate social responsibility. Shareholders: These are the individuals who invest in the company. HAZA construction is a private limited company. Hence they will issue shares to their friends and family. They expect a financial return for the investments they have done in the company.