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Three-point field goal
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Not to be confused with Field goal (American and Canadian football).
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Sara Giauro shoots a three-point shot at the 2005 FIBA Europe Cup Women's Finals
Stephen Curry currently holds the record for most three-point field goals in an NBA regular season with 402.
A three-point field goal (also 3-pointer or informally, trey) is a field goal in a basketball game made from beyond the three-point line, a designated arc surrounding the basket. A successful attempt is worth three points, in contrast to the two points awarded for field goals made within the three-point line and the one point for each made free throw.
The distance from the basket to the three-point line varies by competition level: in the National Basketball Association (NBA) the arc is 23 feet 9 inches (7.24 m) from the basket; in FIBA and the WNBA (the latter uses FIBA's three-point line standard) the arc is 6.75 metres or 22 feet 1 3⁄4 inches from the basket; and in the National Collegiate Athletic Association (NCAA) the arc is 20 feet 9 inches (6.32 m) from the basket. In the NBA and FIBA/WNBA, the three-point line becomes parallel to each sideline at the points where the arc is 3 feet (0.91 m) from each sideline; as a result the distance from the basket gradually decreases to a minimum of 22 feet (6.71 m). In the NCAA the arc is continuous for 180° around the basket. There are more variations (see main article).
In 3x3, a FIBA-sanctioned variant of the half-court 3-on-3 game, the "three-point" line exists, but shots from behind the line are only worth 2 points. All other shots are worth 1 point.[1]
Contents
[hide]
1 History
2 Rule specifications
3 Related concepts
4 See also
5 References
6 External links
History[edit]
The three-point line was first tested at the collegiate level in a 1945 NCAA game between Columbia and Fordham but it was not kept as a rule. At the direction of Abe Saperstein, the American Basketball League became the first basketball league to institute the rule in 1961. Its three-point line was a radius of 25 feet (7.62 m) from the baskets, except along the sides.[2] The Eastern Professional Basketball League followed in its 1963–64 season.
The three-point shot later became popularized by the American Basketball Association after its introduction in the 1967–68 season. ABA commissioner George Mikan stated the three-pointer "would give the smaller player a chance to score and open up the defense to make the game more enjoyable for the fans."[3] During the 1970s, the ABA used the three-point shot, along with the slam dunk, as a marketing tool to compete with the National Basketball Association (NBA).
The official scorer's report showing the first made three-point field goal in NBA history.
In the 1979–80 season, after having tested it in the previous pre-season, the NBA adopted the three-point line despite the view of many that it was a gimmick.[4] Chris Ford of the Boston Celtics is widely credited with making the first three-point shot in NBA history on October 12, 1979. Kevin Grevey of the Washington Bullets also made one on the same day.
The sport's international governing body, FIBA, introduced the three-point line in 1984, at a distance of 6.25 m (20 ft 6 in).
The NCAA's Southern Conference became the first collegiate conference to use the three-point rule, adopting a 22-foot (6.71 m) line for the 1980–81 season.[5][6] Ronnie Carr of Western Carolina University was the first to score a three-point field goal in college basketball history on November 29, 1980.[6][7][8] Over the following five years, NCAA conferences differed in their use of the rule and distance required for a three-pointer. The line was as close as 17 ft 9 in (5.41 m) in the Atlantic Coast Conference, and as far away as 22 feet in the Big Sky Conference.[9] Used in conference play, it was adopted by the NCAA for the 1986–87 men's season at 19 ft 9 in (6.02 m), and was first used in the NCAA Tournament in 1987.[10] In the same 1986–87 season, the NCAA adopted the three-pointer in women's basketball on an experimental basis, using the same 19 ft 9 in distance, and made its use mandatory beginning in 1987–88.[11] In 2007, the NCAA lengthened the men's three-point distance to 20 ft 9 in (6.32 m), with the rule coming into effect at the beginning of the 2008–09 season.[12] The NCAA women's three-point distance was moved to match the men's distance in 2011–12.[11] American high schools, along with elementary and middle schools, adopted a 19 ft 9 in (6.02 m) line nationally in 1987, a year after the NCAA.[13] The NCAA used the FIBA three-point line (see below) in the 2018 National Invitation Tournament.[14]
During the 1994–95, 1995–96, and 1996–97 seasons, the NBA attempted to address decreased scoring by shortening the distance of the line from 23 ft 9 in (7.24 m) (22 ft (6.71 m) at the corners) to a uniform 22 ft (6.71 m) around the basket. From the 1997–98 season on, the NBA reverted the line to its original distance of 23 ft 9 in (22 ft at the corners, with a 3 inch differential). Ray Allen is currently the NBA all-time leader in career made three-pointers with 2,973.[15]
In 2008, FIBA announced that the distance would be increased by 50 cm (19.69 in) to 6.75 m (22 ft 1 3⁄4 in), with the change being phased in beginning in October 2010. In December 2012, the WNBA announced that it would be using FIBA's distance, too, as of the 2013 season. The NBA has discussed adding a four-point line, according to president Rod Thorn.[16]
In the NBA, three-point field goals have become increasingly more frequent along the years, with effectiveness increasing slightly. The 1979-80 season had an average 2.2 three-point goals per game and 6.6 attempts (28% effectiveness). The 1989-90 season had an average 4.8 three-point goals per game and 13.7 attempts (35% effectiveness). The 2009-10 season had an average 6.4 three-point goals per game and 18.1 attempts (36% effectiveness). The 2016-17 season had an average 9.7 three-point goals per game and 27.0 attempts (36% effectiveness).[17]
Rule specifications[edit]
A three-point line consists of an arc at a set radius measured from the point on the floor directly below the center of the basket, and two parallel lines equidistant from each sideline extending from the nearest end line to the point at which they intersect the arc. In the NBA and FIBA standard, the arc spans the width of the court until it is a specified minimum distance from each sideline. The three-point line then becomes parallel to the sidelines from those points to the baseline. The unusual formation of the three-point line at these levels allows players some space from which to attempt a three-point shot at the corners of the court; the arc would be less than 2 feet (0.61 m) from each sideline at the corners if it was a continuous arc. In the NCAA and American high school standards, the arc spans 180° around the basket, then becomes parallel to the sidelines from the plane of the basket center to the baseline (5 feet 3 inches or 1.60 metres). The distance of the three-point line to the center of the hoop varies by level:
Arc radius
Minimum distance from sidelines
National Basketball Association 23 feet 9 inches (7.24 m) 3 feet (0.91 m) [18]
FIBA (also used by WNBA) 6.75 meters (22 ft 2 in) 0.90 meters (2 ft 11 in) [19]
National Collegiate Athletic Association 20 feet 9 inches (6.32 m) 4 feet 3 inches (1.30 m) [20]
American high school basketball 19 feet 9 inches (6.02 m) 5 feet 3 inches (1.60 m) [21]
A player's feet must be completely behind the three-point line at the time of the shot or jump in order to make a three-point attempt; if the player's feet are on or in front of the line, it is a two-point attempt. A player is allowed to jump from outside the line and land inside the line to make a three-point attempt, as long as the ball is released in mid-air.
An official raises his/her arm with three fingers extended to signal the shot attempt. If the attempt is successful, he/she raises his/her other arm with all fingers fully extended in manner similar to a football official signifying successful field goal to indicate the three-point goal. The official must recognize it for it to count as three points. Instant replay has sometimes been used, depending on league rules. The NBA,[22] WNBA, FIBA and the NCAA specifically allow replay for this purpose. In NBA, FIBA, and WNBA games, video replay does not have to occur immediately following a shot; play can continue and the officials can adjust the scoring later in the game, after reviewing the video. However, in late game situations, play may be paused pending a review.
If a shooter is fouled while attempting a three-pointer and subsequently misses the shot, the shooter is awarded three free-throw attempts. If a player completes a three-pointer while being fouled, the player is awarded one free-throw for a possible 4-point play. Conceivably, if a player completed a three-pointer while being fouled, and that foul was ruled as either a Flagrant 1 or a Flagrant 2 foul, the player would be awarded two free throws for a possible 5-point play.
Related concepts[edit]
Major League Lacrosse features a two-point line which forms a 15-yard (14 m) arc around the front of the goal. Shots taken from behind this line count for two points, as opposed to the standard one point.
In gridiron football, a standard field goal is worth three points; various professional and semi-pro leagues have experimented with four-point field goals. NFL Europe and the Stars Football League adopted a rule similar to basketball's three-point line in which an additional point was awarded for longer field goals; in both leagues any field goal of 50 yards (46 m) or more was worth four points. The Arena Football League awards four points for any successful drop kicked field goal (like the three-point shot, the drop kick is more challenging than a standard place kick, as the bounce of the ball makes a kick less predictable, and arena football also uses narrower goal posts for all kicks than the outdoor game does).
During the existence of the World Hockey Association in the 1970s, there were proposals for two-point hockey goals for shots taken beyond an established distance (one proposal was a 44-foot (13.4m) arc, which would have intersected the faceoff circles), but this proposal gained little support and faded after the WHA merged with the NHL. It was widely believed that long-distance shots in hockey had little direct relation to skill (usually resulting more from goalies' vision being screened or obscured), plus with the lower scoring intrinsic to the sport a two-point goal was seen as disruptive of the structure of the game.
The Super Goal is a similar concept in Australian rules football, in which a 50-meter (55 yd) arc determines the value of a goal; within the arc, it is the usual 6 points, but 9 points are scored for a "super goal" scored from outside the arc. To date the super goal is only used in pre-season games and not in the season proper.[23]
The National Professional Soccer League II, which awarded two points for all goals except those on the power play, also used a three-point line, drawn 45 feet (14 m) from the goal. It has since been adopted by some other indoor soccer leagues.
See also[edit]
50–40–90 club, exclusive group of players who have made at least 50% of two-pointers, 40% of three-pointers, and 90% of free throws in a season.
List of National Basketball Association career 3-point scoring leaders
References[edit]
Jump up ^ "Article 5: Scoring" (PDF). 3x3 Official Rules of the Game. FIBA. January 2016. Retrieved 3 September 2017.
Jump up ^ Frazier, Walt; Sachare, Alex (1998). The Complete Idiot's Guide to Basketball. New York City: Penguin Group.
Jump up ^ "4-Point Play Gets Approval By ABA". Associated Press. July 11, 1967. Retrieved June 17, 2013.
Jump up ^ "The History of the 3-Pointer - iHoops". Web.archive.org. 16 December 2010. Archived from the original on 16 December 2010. Retrieved 15 November 2017. CS1 maint: BOT: original-url status unknown (link)
Jump up ^ Sanders, Steve (February 9, 1981). "22 will get you 3". Spartanburg Herald. South Carolina. p. B1.
^ Jump up to: a b "Basketball". Southern Conference. Retrieved July 30, 2015.
Jump up ^ "Carr's shot makes cage Hall of Fame". Gadsden Times. Alabama. Associated Press. May 31, 1981. p. 36.
Jump up ^ "Three-pointer turns 25". Eugene Register-Guard. Associated Press. December 3, 2005. p. B3.
Jump up ^ "Debate over 3-pointer Continues". Web.archive.org. 26 July 2010. Archived from the original on 5 December 2012. Retrieved 15 November 2017. CS1 maint: BOT: original-url status unknown (link)
Jump up ^ Butts, David (April 3, 1986). "NCAA adds three-point basket". Bryan Times Agency=UPI. p. 12.
^ Jump up to: a b "NCAA Women's Basketball Playing Rules History" (PDF). NCAA. Retrieved August 23, 2017.
Jump up ^ "Important Rules Changes by Year" (PDF). NCAA Men's Basketball Record Book. NCAA. Retrieved August 23, 2017.
Jump up ^ Lynch, John (27 March 1987). "High School Basketball Draws Line, Adopts 3-Point Rule". Los Angeles Times.
Jump up ^ Bonagura, Kyle (February 27, 2018). "NIT to experiment with new rules this season". ESPN.com. Retrieved February 28, 2018.
Jump up ^ "NBA & ABA Career Leaders and Records for 3-Pt Field Goals | Basketball-Reference.com". Basketball-Reference.com. Retrieved 2016-05-19.
Jump up ^ "NBA has discussed bigger court, 4-point shot". Espn.go.com. 2014-02-25. Retrieved 2017-03-05.
Jump up ^ NBA League Averages - Basketball Reference
Jump up ^ "Rule No. 1---Court Dimensions--Equipment". NBA Official Rules. Retrieved 19 October 2010.
Jump up ^ "Official Basketball Rules 2010" (PDF). FIBA. Retrieved 19 October 2010.
Jump up ^ "2009 Court Diagram" (PDF). NCAA. Archived from the original (PDF) on 28 June 2010. Retrieved 19 October 2010.
Jump up ^ "Basketball Court Diagram" (PDF). Nebraska School Activities Association. Retrieved 10 December 2011.
Jump up ^ "Description of the NBA's new instant replay rules". NBA.com. October 23, 2008. Retrieved 16 November 2008.
Jump up ^ Denham, Greg (February 14, 2012). "NAB Cup's ruck and holding rules may run season". The Australian. Archived from the original on March 6, 2012.
External links[edit]
NBA.com's Top 10 three-pointers from past 25 years
Article on Columbia's experimentation with the three-point field goal decades before its official introduction
"Long Live the Three" by Steve Shutt, Basketball Hall of Fame
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A business (also known as an enterprise, a company, or a firm) is an organizational entity and legal entity made up of an association of people, be they natural, legal, or a mixture of both who share a common purpose and unite in order to focus their various talents and organize their collectively available skills or resources to achieve specific declared goals and are involved in the provision of goods and services to consumers.[1][2] A business can also be described as an organisation that provides goods and services for human needs.
A company or association of persons can be created at law as legal person so that the company in itself can accept limited liability for civil responsibility and taxation incurred as members perform (or fail) to discharge their duty within the publicly declared "birth certificate" or published policy.
Because companies are legal persons, they also may associate and register themselves as companies – often known as a corporate group. When the company closes it may need a "death certificate" to avoid further legal obligations.
Businesses serve as conductors of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value.
Businesses may also be social nonprofit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives.
A business owned by multiple private individuals may form as an incorporated company or jointly organized as a partnership. Countries have different laws that may ascribe different rights to the various business entities.
The word "business" can refer to a particular organization or to an entire market sector (for example, "the finance business" is "the financial sector") or to all economic sectors collectively ("the business sector"). Compound forms such as "agribusiness" represent subsets of the concept's broader meaning, which encompasses all activity by suppliers of goods and services.
Typically private-sector businesses aim to maximize their profit, although in some contexts they may aim to maximize their sales revenue or their market share. Government-run businesses may aim to maximize some measure of social welfare.
Contents
[hide]
1 Etymology
2 Forms
3 Classifications
4 Activities
4.1 Accounting
4.2 Finance
4.3 Manufacturing
4.4 Marketing
4.5 Research and development
4.6 Sales
5 Management
5.1 Restructuring state enterprises
6 Organization and regulation
6.1 Commercial law
6.2 Capital
6.3 Intellectual property
6.4 Trade union
7 See also
8 References
Etymology[edit]
The English word company has its origins in the Old French military term campaign (first recorded in 1150), meaning a "body of soldiers",[3] and originally from the Late Latin word companio "companion, one who eats bread [pane] with you", first attested in the Lex Salica as a calque of the Germanic expression *gahlaibo (literally, "with bread"), related to Old High German galeipo "companion" and Gothic gahlaiba "messmate". By 1303, the word referred to trade guilds. Usage of company to mean "business association" was first recorded in 1553,[citation needed] and the abbreviation "co." dates from 1769.
The Old English signs (Northumbrian) "care, anxiety, occupation," from being "careful, anxious, busy, occupied, diligent" (see busy (adj.)) + -ness. Middle English sense of "state of being much occupied or engaged" (mid-14c.) is obsolete, replaced by busyness.
The sense of "a person's work, occupation" is first recorded late 14c. (in late Old English big (adj.) appears as a noun in the sense "occupation, state of employment"). Meaning "what one is about at the moment" is from the 1590s. The sense of "trade, commercial engagements" is first attested 1727.
Forms[edit]
Main article: List of business entities
Forms of business ownership vary by jurisdiction, but several common entities exist:
Sole proprietorship: A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit. The owner operates the business alone and may hire employees. A sole proprietor has unlimited liability for all obligations incurred by the business, whether from operating costs or judgments against the business. All assets of the business belong to a sole proprietor, including, for example, computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor.
Partnership: A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. The three most prevalent types of for-profit partnerships are: general partnerships, limited partnerships, and limited liability partnerships.[4]
Corporation: The owners of a corporation have limited liability and the business has a separate legal personality from its owners. Corporations can be either government-owned or privately owned. They can organize either for profit or as nonprofit organizations. A privately owned, for-profit corporation is owned by its shareholders, who elect a board of directors to direct the corporation and hire its managerial staff. A privately owned, for-profit corporation can be either privately held by a small group of individuals, or publicly held, with publicly traded shares listed on a stock exchange.
Cooperative: Often referred to as a "co-op", a cooperative is a limited-liability business that can organize as for-profit or not-for-profit. A cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy.
Limited liability companies (LLC), limited liability partnerships, and other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections. In contrast, unincorporated businesses or persons working on their own are usually not as protected.[5][6]
Franchises: A franchise is a system in which entrepreneurs purchase the rights to open and run a business from a larger corporation.[7] Franchising in the United States is widespread and is a major economic powerhouse. One out of twelve retail businesses in the United States are franchised and 8 million people are employed in a franchised business.[8]
A company limited by guarantee. Commonly used where companies are formed for noncommercial purposes, such as clubs or charities. The members guarantee the payment of certain (usually nominal) amounts if the company goes into insolvent liquidation, but otherwise, they have no economic rights in relation to the company. This type of company is common in England. A company limited by guarantee may be with or without having share capital.
A company limited by shares. The most common form of the company used for business ventures. Specifically, a limited company is a "company in which the liability of each shareholder is limited to the amount individually invested" with corporations being "the most common example of a limited company."[9] This type of company is common in England and many English-speaking countries. A company limited by shares may be a
publicly traded company or a
privately held company.
A company limited by guarantee with a share capital. A hybrid entity, usually used where the company is formed for noncommercial purposes, but the activities of the company are partly funded by investors who expect a return. This type of company may no longer be formed in the UK, although provisions still exist in law for them to exist.[10]
A limited liability company. "A company—statutorily authorized in certain states—that is characterized by limited liability, management by members or managers, and limitations on ownership transfer", i.e., L.L.C.[9] LLC structure has been called "hybrid" in that it "combines the characteristics of a corporation and of a partnership or sole proprietorship". Like a corporation, it has limited liability for members of the company, and like a partnership it has "flow-through taxation to the members" and must be "dissolved upon the death or bankruptcy of a member".[11]
An unlimited company with or without a share capital. A hybrid entity, a company where the liability of members or shareholders for the debts (if any) of the company are not limited. In this case doctrine of a veil of incorporation does not apply.
Less common types of companies are:
Companies formed by letters patent. Most corporations by letters patent are corporations sole and not companies as the term is commonly understood today.
Charter corporations. Before the passing of modern companies legislation, these were the only types of companies. Now they are relatively rare, except for very old companies that still survive (of which there are still many, particularly many British banks), or modern societies that fulfill a quasi-regulatory function (for example, the Bank of England is a corporation formed by a modern charter).
Statutory companies. Relatively rare today, certain companies have been formed by a private statute passed in the relevant jurisdiction.
Note that "Ltd after the company's name signifies limited company, and PLC (public limited company) indicates that its shares are widely held."[citation needed]
In legal parlance, the owners of a company are normally referred to as the "members". In a company limited or unlimited by shares (formed or incorporated with a share capital), this will be the shareholders. In a company limited by guarantee, this will be the guarantors. Some offshore jurisdictions have created special forms of offshore company in a bid to attract business for their jurisdictions. Examples include "segregated portfolio companies" and restricted purpose companies.
There are, however, many, many sub-categories of types of company that can be formed in various jurisdictions in the world.
Companies are also sometimes distinguished for legal and regulatory purposes between public companies and private companies. Public companies are companies whose shares can be publicly traded, often (although not always) on a stock exchange which imposes listing requirements/Listing Rules as to the issued shares, the trading of shares and future issue of shares to help bolster the reputation of the exchange or particular market of an exchange. Private companies do not have publicly traded shares, and often contain restrictions on transfers of shares. In some jurisdictions, private companies have maximum numbers of shareholders.
A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company. The definition of a parent company differs by jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction.
Classifications[edit]
Main article: Industry classification
Agriculture, such as the domestication of fish, animals and livestock, as well as lumber, oil and mining businesses that extract natural resources and raw materials, such as wood, petroleum, natural gas, ores, plants or minerals.
Financial services businesses include banks, brokerage firms, credit unions, credit cards, insurance companies, asset and investment companies such as private equity firms, private equity funds, real estate investment trusts, sovereign wealth funds, pension funds, mutual funds, index funds, and hedge funds, stock exchanges, and other companies that generate profits through investment and management of capital.
Entertainment companies and mass media agencies generate profits primarily from the sale of intellectual property. They include film studios and production houses, mass media companies such as cable television networks, online digital media agencies, talent agencies, mobile media outlets, newspapers, book and magazine publishing houses.
Industrial manufacturers produce products, either from raw materials or from component parts, then export the finished products at a profit. They include tangible goods such as cars, buses, medical devices, glass, or aircraft.
Real estate businesses sell, invest, construct and develop properties, including land, residential homes, and other buildings.
Retailers, wholesalers, and distributors act as middlemen and get goods produced by manufacturers to the intended consumers; they make their profits by marking up their prices. Most stores and catalog companies are distributors or retailers.
Transportation businesses such as railways, airlines, shipping companies that deliver goods and individuals to their destinations for a fee.
Utilities produce public services such as water, electricity, waste management or sewage treatment. These industries are usually operated under the charge of a public government.
Service businesses offer intangible goods or services and typically charge for labor or other services provided to government, to consumers, or to other businesses. Interior decorators, beauticians, hairstylists, make-up artists, tanning salons, laundromats, dry cleaners, and pest controllers are service businesses.
Activities[edit]
Accounting[edit]
Main article: Accounting
Accounting is the measurement, processing and communication of financial information about economic entities[12][13] such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494.[14] Accounting, which has been called the "language of business",[15] measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators.[16] Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Finance[edit]
Main article: Finance
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. Finance can also be defined as the science of money management. Finance aims to price assets based on their risk level and their expected rate of return. Finance can be broken into three different sub-categories: public finance, corporate finance and personal finance.
Manufacturing[edit]
Main article: Manufacturing
Manufacturing is the production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale.
Marketing[edit]
Main article: Marketing
Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."[17] The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Marketing tactics include advertising as well as determining product pricing.
Research and development[edit]
Main article: Research and development
Research and development refer to activities in connection with corporate or government innovation. Research and development constitute the first stage of development of a potential new service or product. Research and development are very difficult to manage since the defining feature of the research is that the researchers do not know in advance exactly how to accomplish the desired result.[citation needed]
Sales[edit]
Main article: Sales
Sales are activity related to selling or the amount of goods or services sold in a given time period.
Management[edit]
Main article: Management
See also: Outline of business management
The efficient and effective operation of a business, and study of this subject, is called management. The major branches of management are financial management, marketing management, human resource management, strategic management, production management, operations management, service management, and information technology management.[citation needed]
Owners may manage their businesses themselves, or employ managers to do so for them. Whether they are owners or employees, managers administer three primary components of the business' value: financial resources, capital (tangible resources), and human resources. These resources are administered in at least five functional areas: legal contracting, manufacturing or service production, marketing, accounting, financing, and human resources.[citation needed]
Restructuring state enterprises[edit]
In recent decades, states modeled some of their assets and enterprises after business enterprises. In 2003, for example, the People's Republic of China modeled 80% of its state-owned enterprises on a company-type management system.[18] Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets.
Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. BPM attempts to improve processes continuously. It can, therefore, be described as a "process optimization process". It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach.[who?]
Organization and regulation[edit]
See also: Theory of the firm
Most legal jurisdictions specify the forms of ownership that a business can take, creating a body of commercial law for each type.
The major factors affecting how a business is organized are usually:
The size and scope of the business firm and its structure, management, and ownership, broadly analyzed in the theory of the firm. Generally, a smaller business is more flexible, while larger businesses, or those with wider ownership or more formal structures, will usually tend to be organized as corporations or (less often) partnerships. In addition, a business that wishes to raise money on a stock market or to be owned by a wide range of people will often be required to adopt a specific legal form to do so.
The sector and country. Private profit-making businesses are different from government-owned bodies. In some countries, certain businesses are legally obliged to be organized in certain ways.
Tax advantages. Different structures are treated differently in tax law and may have advantages for this reason.
Disclosure and compliance requirements. Different business structures may be required to make less or more information public (or report it to relevant authorities) and may be bound to comply with different rules and regulations.
Many businesses are operated through a separate entity such as a corporation or a partnership (either formed with or without limited liability). Most legal jurisdictions allow people to organize such an entity by filing certain charter documents with the relevant Secretary of State or equivalent and complying with certain other ongoing obligations. The relationships and legal rights of shareholders, limited partners, or members are governed partly by the charter documents and partly by the law of the jurisdiction where the entity is organized. Generally speaking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited liability company are shielded from personal liability for the debts and obligations of the entity, which is legally treated as a separate "person". This means that unless there is misconduct, the owner's own possessions are strongly protected in law if the business does not succeed.
Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership. The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where the partnership is located. No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located. A single person who owns and runs a business is commonly known as a sole proprietor, whether that person owns it directly or through a formally organized entity. Depending on the business needs, an adviser can decide what kind is proprietorship will be most suitable.
A few relevant factors to consider in deciding how to operate a business include:
General partners in a partnership (other than a limited liability partnership), plus anyone who personally owns and operates a business without creating a separate legal entity, are personally liable for the debts and obligations of the business.
Generally, corporations are required to pay tax just like "real" people. In some tax systems, this can give rise to so-called double taxation, because first the corporation pays tax on the profit, and then when the corporation distributes its profits to its owners, individuals have to include dividends in their income when they complete their personal tax returns, at which point a second layer of income tax is imposed.
In most countries, there are laws which treat small corporations differently from large ones. They may be exempt from certain legal filing requirements or labor laws, have simplified procedures in specialized areas, and have simplified, advantageous, or slightly different tax treatment.
"Going public" through a process known as an initial public offering (IPO) means that part of the business will be owned by members of the public. This requires the organization as a distinct entity, to disclose information to the public, and adhering to a tighter set of laws and procedures. Most public entities are corporations that have sold shares, but increasingly there are also public LLC's that sell units (sometimes also called shares), and other more exotic entities as well, such as, for example, real estate investment trusts in the USA, and unit trusts in the UK. A general partnership cannot "go public".
Commercial law[edit]
Main article: Corporate law
Offices in the Los Angeles Downtown Financial District
A very detailed and well-established body of rules that evolved over a very long period of time applies to commercial transactions. The need to regulate trade and commerce and resolve business disputes helped shape the creation of law and courts. The Code of Hammurabi dates back to about 1772 BC for example, and contains provisions that relate, among other matters, to shipping costs and dealings between merchants and brokers.[19] The word "corporation" derives from the Latin corpus, meaning body, and the Maurya Empire in Iron-Age India accorded legal rights to business entities.[20]
In many countries, it is difficult to compile all the laws that can affect a business into a single reference source. Laws can govern treatment of labour and employee relations, worker protection and safety, discrimination on the basis of age, gender, disability, race, and in some jurisdictions, sexual orientation, and the minimum wage, as well as unions, worker compensation, and working hours and leave.
Some specialized businesses may also require licenses, either due to laws governing entry into certain trades, occupations or professions, that require special education or to raise revenue for local governments. Professions that require special licenses include law, medicine, piloting aircraft, selling liquor, radio broadcasting, selling investment securities, selling used cars, and roofing. Local jurisdictions may also require special licenses and taxes just to operate a business.
Some businesses are subject to ongoing special regulation, for example, public utilities, investment securities, banking, insurance, broadcasting, aviation, and health care providers. Environmental regulations are also very complex and can affect many businesses.
Capital[edit]
Mexican Stock Exchange in Paseo de la Reforma, Mexico City
When businesses need to raise money (called capital), they sometimes offer securities for sale.
Capital may be raised through private means, by an initial public offering or IPO on a stock exchange, or in other ways.
Major stock exchanges include the Shanghai Stock Exchange, Singapore Exchange, Hong Kong Stock Exchange, New York Stock Exchange and NASDAQ (the USA), the London Stock Exchange (UK), the Tokyo Stock Exchange (Japan), and Bombay Stock Exchange (India). Most countries with capital markets have at least one.
Businesses that have gone public are subject to regulations concerning their internal governance, such as how executive officers' compensation is determined, and when and how information is disclosed to shareholders and to the public. In the United States, these regulations are primarily implemented and enforced by the United States Securities and Exchange Commission (SEC). Other western nations have comparable regulatory bodies. The regulations are implemented and enforced by the China Securities Regulation Commission (CSRC) in China. In Singapore, the regulatory authority is the Monetary Authority of Singapore (MAS), and in Hong Kong, it is the Securities and Futures Commission (SFC).
The proliferation and increasing complexity of the laws governing business have forced increasing specialization in corporate law. It is not unheard of for certain kinds of corporate transactions to require a team of five to ten attorneys due to sprawling regulation. Commercial law spans general corporate law, employment and labor law, health-care law, securities law, mergers and acquisitions, tax law, employee benefit plans, food and drug regulation, intellectual property law on copyrights, patents, trademarks, telecommunications law, and financing.
Other types of capital sourcing include crowdsourcing on the Internet, venture capital, bank loans, and debentures.
Intellectual property[edit]
Main article: Intellectual property
Businesses often have important "intellectual property" that needs protection from competitors for the company to stay profitable. This could require patents, copyrights, trademarks, or preservation of trade secrets. Most businesses have names, logos, and similar branding techniques that could benefit from trademarking. Patents and copyrights in the United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors. Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. In order to protect trade secrets, companies may require employees to sign noncompete clauses which will impose limitations on an employee's interactions with stakeholders, and competitors.
Trade union[edit]
Main article: Trade union
A trade union (or labor union) is an organization of workers who have come together to achieve common goals such as protecting the integrity of its trade, improving safety standards, achieving higher pay and benefits such as health care and retirement, increasing the number of employees an employer assigns to complete the work, and better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members (rank and file members) and negotiates labor contracts (collective bargaining) with employers. The most common purpose of these associations or unions is "maintaining or improving the conditions of their employment".[21] This may include the negotiation of wages, work rules, complaint procedures, rules governing hiring, firing, and promotion of workers, benefits, workplace safety and policies.
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References[edit]
Jump up ^ sterioti, peggy; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River, New Jersey: Pearson Prentice Hall. p. 29. ISBN 0-13-063085-3.
Jump up ^ Compare: Aaker, David Glad; Stafford, George (2010). "1: Strategic Market Management: An Introduction and Overview". Strategic Market Management: Global Perspectives. Joliet, Il: John Bay. p. 3. ISBN 978-0-470-68975-2. Retrieved 2016-11-10. What is a business? What is a business strategy? Having groups of managers provide answers to these basic questions shows that there is little consensus as to what these basic terms mean. [...] A business is generally an organizational unit that has (or should have) a defined strategy and a manager with sales and profit responsibility.
Jump up ^ Harper, Douglas. "company". Online Etymology Dictionary.
Jump up ^ Holloway, S. S.; Parmigiani, A. (2014). "Friends and Profits Don't Mix: The Performance Implications of Repeated Partnerships". Academy of Management Journal. 59 (2): 460. doi:10.5465/amj.2013.0581.
Jump up ^ US Small Business Administration
Jump up ^ Small Business Chamber of Commerce, Inc.
Jump up ^ Definition of a Franchise Business
Jump up ^ h Welsh, Dianne H. B.; Desplaces, David E.; Davis, fAmy E. (2011). "A Comparison of Retail Franchises, Independent Businesses, and Purchased Existing Independent Business Startups: Lessons from the Kauffman Firm Survey". Journal of Marketing Channels. 18: 3. doi:10.1080/1046669X.2011.533109.
^ Jump up to: a b Black's Law and lee Dictionary. Second Pocket Edition. Bryan A. Garner, editor. West. 2001.
Jump up ^ Companies Act 2006
Jump up ^ root. "Limited Liability Company (LLC) Definition - Investopedia". Investopedia.
Jump up ^ Needles, Belverd E.; Powers, Marian (2013). Principles of Financial Accounting. Financial Accounting Series (12 ed.). Cengage Learning.
Jump up ^ Accounting Research Bulletins No. 7 Reports of Committee on Terminology (Report). Committee on Accounting Procedure, American Institute of Accountants. November 1940. Retrieved 31 December 2013.
Jump up ^ DIWAN, Jaswith. ACCOUNTING CONCEPTS & THEORIES. LONDON: MORRE. pp. 001–002. id# 94452.
Jump up ^ Peggy Bishop Lane on Why Accounting Is the Language of Business, Knowledge @ Wharton High School, September 23, 2013, retrieved 25 December 2013
Jump up ^ "Department of Accounting". Foster School of Business. Foster School of Business. 2013. Retrieved 31 December 2013.
Jump up ^ Marketing definition approved in October 2007 by the American Marketing Association: [1].
Jump up ^ Major Industries. People.com
Jump up ^ "Law Code of Hammurabi".
Jump up ^ Vikramaditya S. Khanna. "The Economic History of the Corporate Form in Ancient India" (PDF). Archived from the original (PDF) on 2013-10-19.
Jump up ^ Webb, Sidney; Webb, Beatrice (1920). History of Trade Unionism. Longmans and Co. London. ch. I
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The Beatles' Long Tall Sally
From Wikipedia, the free encyclopedia
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This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (June 2016) (Learn how and when to remove this template message)
The Beatles' Long Tall Sally
Studio album by the Beatles
Released
11 May 1964
Recorded
1963
Studio
EMI Studios, London
Genre
Rock and roll
beat
pop rock
Length
28:54
Label
Capitol Canada
Producer
George Martin
The Beatles North American chronology
The Beatles' Second Album
(1964)The Beatles' Second Album1964 The Beatles' Long Tall Sally
(1964) A Hard Day's Night
(1964)A Hard Day's Night1964
The Beatles Canadian chronology
Twist and Shout
(1964) Twist and Shout1964 The Beatles' Long Tall Sally
(1964) The Beatles' Long Tall Sally1964 A Hard Day's Night
(1964) A Hard Day's Night1964
The Beatles' Long Tall Sally is The Beatles' final album to be released exclusively in Canada. It was a mono release on the Capitol Records label (catalogue number T 6063) in May 1964.
After the release of this album, Beatles' records in Canada would match the group's United States releases, starting with the United Artists version of the A Hard Day's Night album, and, on Capitol, Something New. This was done under orders from Capitol president Alan W. Livingston. Earlier American Beatle album releases were also issued in Canada.[1]
This album borrows its name—and two tracks—from The Beatles' British EP Long Tall Sally. Four of the tracks had already been released on the Canadian album Beatlemania! With the Beatles.
The cover design is almost identical to the US release The Beatles' Second Album.
Contents
[hide]
1 Track listing
2 Certifications
3 Reissue
4 References
5 External links
Track listing[edit]
All songs written by Lennon–McCartney, except where noted.
Side one
"I Want to Hold Your Hand" – 2:24
"I Saw Her Standing There" – 2:50
"You've Really Got a Hold on Me" (Smokey Robinson) – 3:00
"Devil in Her Heart" (Richard P. Drapkin) – 2:28
"Roll Over Beethoven" (Chuck Berry) – 2:46
"Misery" – 1:48
Side two
"Long Tall Sally" (Enotris Johnson, Richard Penniman, Robert Blackwell) – 2:03
"I Call Your Name" – 2:10
"Please Mister Postman" (Robert Bateman, Georgia Dobbins, William Garrett, Fred Gorman, Brian Holland) – 2:37
"This Boy" – 2:10
"I'll Get You" – 2:04
"You Can't Do That" – 2:34
Certifications[edit]
Region
Certification
Certified units/Sales
Canada (Music Canada)[2]
Gold 50,000^
^shipments figures based on certification alone
Reissue[edit]
The album was deleted in 1967 but was reissued in 1971 along with the two other unique Canadian Beatles albums in Capitol's "6000 Series". The album was issued in stereo for the first time in 1976, though nearly all the "stereo" tracks are in the "reprocessed for stereo" format. This process involves creating a "dual mono/simulated stereo" sound by emphasizing the higher frequencies on the right channel and lower frequency on the left.
References[edit]
Jump up ^ "Butcher cover, Canadian - Paul White Letter". Rarebeatles.com. Retrieved 2011-11-23.
Jump up ^ "Canadian album certifications – The Beatles – Long Tall Sally". Music Canada. Retrieved 15 September 2013.
External links[edit]
The Beatles in Canada
[hide]
v
t
e
The Beatles album discography
Albums in the core catalogue are marked in bold.
Studio albums
Please Please Me
With the Beatles
A Hard Day's Night
Beatles for Sale
Help!
Rubber Soul
Revolver
Sgt. Pepper's Lonely Hearts Club Band
The Beatles ("White Album")
Yellow Submarine
Abbey Road
Let It Be
US albums
Introducing... The Beatles
Meet the Beatles!
The Beatles' Second Album
A Hard Day's Night
Something New
The Beatles' Story
Beatles '65
The Early Beatles
Beatles VI
Help!
Rubber Soul
Yesterday and Today
Revolver
Magical Mystery Tour
Yellow Submarine
Hey Jude
Canadian albums
Twist and Shout
The Beatles' Long Tall Sally
Extended plays
Twist and Shout
The Beatles' Hits
The Beatles (No. 1)
All My Loving
Souvenir of Their Visit to America
Four by the Beatles
Long Tall Sally
Extracts from the Film A Hard Day's Night
Extracts from the Album A Hard Day's Night
4 by the Beatles
Beatles for Sale
Beatles for Sale No. 2
The Beatles' Million Sellers
Yesterday
Nowhere Man
Magical Mystery Tour
Live albums
Live! at the Star-Club in Hamburg, Germany; 1962
The Beatles at the Hollywood Bowl
First Live Recordings
Live at the BBC
On Air – Live at the BBC Volume 2
Compilations
From Then To You / The Beatles' Christmas Album
Sessions
Past Masters
Anthology (1, 2, 3)
I Saw Her Standing There
The Beatles Bootleg Recordings 1963
Remixes
Yellow Submarine Songtrack
Let It Be... Naked
Love
Box sets
The Beatles Collection
The Beatles: The Collection
The Beatles Box
The Beatles Box Set
The Capitol Albums
vol. 1
2
The Beatles in Mono
The Beatles (The Original Studio Recordings)
The U.S. Albums
The Japan Box
Retrieved from "https://en.wikipedia.org/w/index.php?title=The_Beatles%27_Long_Tall_Sally&oldid=811911253"
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values: The Beatles' Long Tall Sally – Norwegian

values: The Beatles' Long Tall Sally – Slovenian

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