One Man Control Essay

What is Meant By unity Man Control? One hu globe control or adept man seam ( in addition called doctor possessorship) is the simplest ferment of backup organization. The description One man patronage or cardinal man control is several(prenominal)times con as misleading angiotensin-converting enzyme, as there may be more than unmatched persons working as employees in the business concern. The essential condition of ane man control or 1 man business is that it i. e. a business owned by one person, managed and operated for ones own profit. Statute of One discharge BusinessThe one man business was the earliest to be developed. It is flat today, the most common and numerically the largest form of business ownership in the developed and underdeveloped countries of the world. It represents about more than 74% of all the business firms. However the shargon of fillet of sole proprietary in the national income is short of all the business activities. That is why it Is said of sole traders that they ar an rattling(a) lot of them but they do not do very much. Is One Man Control Best in The World?With the advent of industrial Revolution, introduction of machinery, division of labour, specialization, expansion in the scale of production, greater business risks, diversification of managerial tasks, large working outstanding requirement, etc. , etc. the one man control Is no more the rule of the world. The reason is that one man Is not big enough to manage everything. The basic functions of business i, e. , buying, selling, advertising, accounting, insurance, credit, personal management etc cannot be successfully performed by one man.He cannot be expert in all these beas. In addition to this, one man can provide a limited amount of capital for establish and operating a business. His risk bearing capacity is also limited. In the present age of competition and technological advancement, the single proprietor has to seek the aid of other persons, managers, secretaries, advisers, consultants etc. He now is one man among many, though perhaps he is the most important one. The one man control is the best in the world It that one man is big enough to manage everything does not seem to be feasible.The sole affair business is confined now to small scale sector. suitability of sole proprietorship The sole proprietorship from of organization is existing and competing quite an successfully with other forms of organizations like partnership, Joint Stock Company. There argon many reasons for it. Sole proprietorship is the most ancient form of business enterprise. If has a weight of tradition behind it. Moreover it is good to look into with it. The circumstances favorable to sole proprietorship form of organization are a) Where Market Is Local When the market for a good or dish out is local, the scale of business opera will be small. The amount of capital required will also be less. Under such circumstances, the sole proprietorship is consider ed the most suitable from of organization. For example most of the retail trading is controlled by the sole traders. (b) When Personal Contract With Customers is Required There are certain businesses where goods or services are provided according to the individual tastes or liking of the customers.For example in the beauty parlours, the tailoring shops, cafeterias etc the sole proprietor has a direct link with his customers. He provides the goods and caters to the individual tastes of the customers. So in al these and other similar businesses, sole proprietorship is the most public and suitable form. (c) Where One Likes, be His Own Boss There are many owners who cannot work w other persons or under some one else. They want to work hard and succeed in business.Being one own boss and keeping all the profits with himself has a special attraction to run the business individually. (d) Where Promptness is Required in Decision Making There are businesses where immediate decisions is requ ired as warranted by the situation. The businessman has no time to consult others. Far example, the prices of the shares win over every rapidly in the stack exchange market. The businessman has to imply prompt decisions. In such businesses where demand and prices of goods change quickly, sole proprietorship form of business is most suitable