Annual Report of Shangri-La

1. Explain in your own words the concept of corporation, firm and organization (culture). How many firms do have your company? Draw a sketch. Describe them briefly? How many organizations does have your company? Why?

Corporation: corpoartion is profit-making enterprise which has no limit to the size, so we have small company's and big companiesFirms: Mostly referred as Partnership firms are registered under Partnership Act and are owned by Partners more than 1 and less than 20 in number. Firms are with business motive.Organization: tended to be nonprofit or professional groups, like associations where a group of people working towards the same goal.

As for Shangri-la Limited Group, they have generally 3 businesses based on its geographic difference because there are different market, different client and different location of course. However, all of the businesses are sharing the same goal and value commanded by the Shangri-la Management Group, so they just have one organization.

2. What is the difference between a firm and an organization?

The basic difference between organization and firm is that organization focuses on the achievement of the goals of a company. Organization lies in creating value for stockholders, customers, employees, suppliers and community.

Partners work together bound by some kind of agreement between them in a firm. They work together characterized by organizational behavior in order to bring about results and goals of their company.

Firm and organization differ in terms of their leadership too. The leader in a firm is different from the leader in an organization in the sense that a leader in an organization is appointed to a managerial position and has the right to command, enforce obedience and behavior by force of the authority of his position.

On the other hand a leader in a firm is the sole partner or the partners singly. If the number of partners