joint supply

joint supply

joint-stock company is formed, then it becomes a separate legal entity apart from its shareholders, able to enter into contracts with suppliers and customers. Joint-stock companies are managed by the BOARD OF DIRECTORS appointed by shareholders. The directors must report on the progress of the company to the shareholders at an ANNUAL GENERAL MEETING where shareholders can, in principle, vote to remove existing directors if they are dissatisfied with their performance.

The development of joint stock companies was given a considerable boost by the introduction of the principle of LIMITED LIABILITY, which limited the maximum loss that a shareholder was liable for in the event of company failure. This protection for shareholders encouraged many more of them to invest in companies.

There are two main forms of joint stock company:

  1. private company: under UK company law, the maximum number of shareholders in a private company is limited to 50 and the shares the company issues cannot be bought and sold on the STOCK EXCHANGE. Such companies carry the term ‘limited’ (Ltd) after their names;
  2. public company: under UK company law there must be a minimum of seven shareholders in a public company, but otherwise a company can have an unlimited number of shareholders. Shares in a public company can be bought and sold on the stock exchange and so can be bought by the general public. Such companies carry the term ‘public limited company’ (plc) after their names.

Most big firms (OLIGOPOLISTS) are public companies, since this is the only practical way of obtaining access to large amounts of capital. Although the shareholders are the owners of a public company, very often it is the company's management that effectively controls its affairs. See FIRM, DIVORCE OF OWNERSHIP FROM CONTROL, SHARE ISSUE.


joint supply

a situation where the increase or decrease in PRODUCTION of one good is inextricably linked to a greater or lesser extent with the production of another. An example of joint supply is wool and mutton. An increase in the DEMAND for wool increases the SUPPLY of sheep, which in turn brings about an autonomous shift (increase) in the SUPPLY CURVE of mutton. As a result, if the demand for mutton remains unchanged, the PRICE of mutton will fall. See COMPLEMENTARY PRODUCTS.
Mentioned in ?
References in periodicals archive ?
SEZAD has also launched its tender portal for contractors to release tenders to SMEs through the Joint Supply Registration System (JSRS).
description of the procurement: Teese botnia oy ab acts as the joint purchasing unit of its owners and is responsible for the tendering, Decision-making and contract management of joint supply contracts in the field of goods and services.
Not only did Standard Chartered, a bank and financial services firm in London, completed the first joint supply chain financing deal based on the blockchain in the first half of the year.
Further, Major General Mohammed Sultan Al Massayba, Signal Corps Commander, and Major General Abdulrahman Sabat Al Marri, Commander of Joint Supply, visited Khawkhawh District and exchanged Eid Al Adha blessings with Armed Forces personnel.
Caption: LEFT: Seaspan Shipyards, after massive investments, is going flat out to build the Joint Supply Ship for the RCN and Offshore Fisheries Science Vessel for the Coast Guard.
He instructed the building of mechanisms to encourage foreign-invested businesses to connect with domestic firms to establish and develop joint supply chains, as well as improve the quality of human resources, especially in the fields of technology, law and finance.
During the meeting, representatives of Saudi Arabia and the UAE also signed the Joint Supply Chained Security Cooperation program, which tests the two countries abilities to provide vital supplies during times of crisis and national emergencies, as well as share expertise and knowledge in the field.
Igor Sechin, CEO, Rosneft, which pumps around 40 per cent of Russia's oil, said crude at $70 to 80 a barrel was a "comfortable level" and expressed satisfaction with the results of Russia's joint supply cuts with Opec.
Not enough Soldiers and Army civilians have worked with our sister services and can appreciate that we are part of a much larger and integrated joint supply chain.
This textbook uses a joint supply chain/operations management focus in each chapter to describe how these concepts need to be integrated for companies to be successful in the global marketplace.
The participants of the conference are represented in all the basic logistics business centers of the world which allow to build joint supply chains from different regions between the members.
This concentration could facilitate the establishment of an oligopolistic trend and joint supply management.

Full browser ?