When a limited company is formed, it have become is said to’incorporated’, ie endowed with a separate body, or person. The corporation so formed is treated in English law as a separate entity, independent of its members. The corporation, or company as it is generally called, is capable of owing property employing people, making contract, and of suing or being sued. Another important feature of a company is that, unlike a sole trader or a partnership, it does have continuity succession, as it is unaffected by the death or incapacity of one or more of its memben. The key feature of a’limited’ company is that, if it fails, it can only require its members(shareholders) to meet its debts up to the limit of the nominal value of their shares The ownership and control of a limited company are vested in the shareholders and the directors.
The Importance of Communication in Organisations:
The most effective managers are those who understand communication and its value in the organizational sellings Communication is the vehicle that allows managers to fulfill each management function. To plan successfully, managers must be able to effectively communicate their vision to the rest of the organization. To organize, successfully, managers must allow for and encourage free-flowing communication both up and down the hierarchy, as well as between departments and colleagues. To lead successfully, managers must clearly communicate organizational goals to employees and, through that communication, inspire employees to trust in their leadership and to perform at the highest levels possible. To control successfully, manager must effectively communicate with employees to monitor progress, to reemphasize organizational goals, and to control ongoing processes.