Source: https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-2-limited-liability [Revision notes](https://senecalearning.com/en-gb/revision-notes.md) › [GCSE](https://senecalearning.com/en-gb/revision-notes/gcse.md) › [Business](https://senecalearning.com/en-gb/revision-notes/gcse/business.md) › [Edexcel](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel.md) › Limited Liability # Limited Liability Business: Edexcel GCSE, topic 1.4.2 ## Types of Ownership - Private Limited Companies Private limited companies (Ltds) are companies where ownership of shares is restricted. For the company to sell shares, all the current shareholders must agree to sell them. These companies have Ltd. after their name. ### Advantages ![Advantages](https://image-v2.cdn.app.senecalearning.com/2018-03/33ea6915-af6d-42ed-acfd-fead3eea679a/shutterstock_631311128.jpg) - The key advantage over sole traders and partnerships is that shareholders have limited liability. - The fact that ownership is restricted means that all shareholders must agree to sell shares. This means that the owners retain (keep) a lot of control over how the business is managed. - It is normally easier for a limited company to get a loan than it is for partnerships, as a company is normally seen as less risky. This should increase a company’s access to finance. ### Disadvantages ![Disadvantages](https://image-v2.cdn.app.senecalearning.com/2018-03/05efed0d-e0a2-4cb0-94da-5d838f309a13/shutterstock_565947739.jpg) - Finance is needed to incorporate a business. There is an upfront fee as well as costs associated with paperwork. This means that it may not be possible for smaller firms (or brand new firms). - Unlike sole traders and partnerships, the company is legally obliged to publish their accounts each year and competitors may use these to become more competitive. ## Types of Ownership - Public Limited Companies Public limited companies sell shares on the stock exchange. This means that anybody over 18 can buy shares (often through brokers). Firms often become public companies when they want to expand because selling shares on the stock exchange allows them to raise finance for investment. In 2017, Snapchat went through this process (which is called a flotation). ### Advantages ![Advantages](https://image-v2.cdn.app.senecalearning.com/2018-03/79745ba8-d526-472e-83cc-163b0d72cf35/shutterstock_184487681.jpg) - Selling shares on a stock exchange allows companies to raise money for investment, which enables the company to grow faster or bigger. - It is much easier for companies to raise capital (money) from banks if they are public limited companies because they present less of a risk (given the number and size of investors). - Shareholders have limited liability because the company is incorporated. ### Disadvantages ![Disadvantages](https://image-v2.cdn.app.senecalearning.com/2018-03/2c7e7da0-ccb1-4af1-a5a3-4edc89a75e2a/shutterstock_565947739.jpg) - Owners often have very little say over how the business is run. This means that it can be hard to agree on how the business is run. - Anyone can take over the company if they are able to buy enough shares. When shareholders own more than half the shares, then they will have control over the company. - The company’s accounts must be made public. This means that competitors can see how well the company is doing. ## Unlimited vs Limited Liability Businesses with unlimited liability (sole traders and partnerships) are much easier to set up because you don’t need to incorporate. The process of incorporating can be expensive and time consuming. ### Can change legal structure ![Can change legal structure](https://image-v2.cdn.app.senecalearning.com/2018-03/d69550cd-1f57-4700-a9f7-ba191cff67b8/shutterstock_184487681.jpg) - As businesses grow, their legal structure often changes. This is because businesses often need more capital (money) to grow. - Most private limited companies become public limited companies because selling the shares on the stock exchange allows them to raise finance to fund their company’s expansion. ### Access to finance ![Access to finance](https://image-v2.cdn.app.senecalearning.com/2018-03/f81195b2-b638-4de4-9008-22c4b897084e/shutterstock_572340157.jpg) - It is normally easier for limited companies to get bank loans than sole traders or partnerships. - This will help them raise more capital to grow. Because of this, sole traders and partnerships often decide to incorporate the business. ## Test yourself on Limited Liability - Which type of company would find it easiest to get a loan? - Which suffix follows the name of a private limited company? - Public limited companies - Topshop shares are not available for purchase by the public. What type of limited company is Topshop? - Why do most private limited companies become public limited companies? [Practise this topic for free](https://app.senecalearning.com/classroom/course/e7efbfa0-222a-11e8-9249-b5781fc38111/section/5e001690-2375-11e8-b386-695f0e881b4d/session) - Previous topic: [1.4.1 The Options for Start-Up & Small Businesses](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-1-the-options-for-start-up-and-small-businesses.md) - Next topic: [1.4.3 Franchising & Not-For-Profits](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-3-franchising-and-not-for-profits.md) ## Business: Edexcel GCSE contents ### 1 Investigating Small Business - 1.1 Enterprise & Entrepreneurship - [1.1.1 The Dynamic Nature of Businesses](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-1-1-the-dynamic-nature-of-businesses.md) - [1.1.2 Risk & Reward](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-1-2-risk-and-reward.md) - [1.1.3 The Role of Business Enterprise](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-1-3-the-role-of-business-enterprise.md) - [1.1.4 The Role of Business Enterprise 2](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-1-4-the-role-of-business-enterprise-2.md) - [1.1.5 The Role of the Entrepreneur](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-1-5-the-role-of-the-entrepreneur.md) - [1.1.6 End of Topic Test - Dynamic Nature of Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-1-6-end-of-topic-test-dynamic-nature-of-business.md) - [1.1.7 Grade 9 - Dynamic Nature of Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-1-7-grade-9-dynamic-nature-of-business.md) - 1.2 Spotting a Business Opportunity - [1.2.1 Customer Needs](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-1-customer-needs.md) - [1.2.2 Market Research](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-2-market-research.md) - [1.2.3 Market Segmentation](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-3-market-segmentation.md) - [1.2.4 The Competitive Environment](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-4-the-competitive-environment.md) - [1.2.5 Primary & Secondary Market Research](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-5-primary-and-secondary-market-research.md) - [1.2.6 End of Topic Test - Business Opportunities](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-6-end-of-topic-test-business-opportunities.md) - [1.2.7 Application Questions - Business Opportunities](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-7-application-questions-business-opportunities.md) - [1.2.8 Exam-Style Questions - Market Segmentation](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-8-exam-style-questions-market-segmentation.md) - [1.2.9 Diagnostic Misconceptions - Competition](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-2-9-diagnostic-misconceptions-competition.md) - 1.3 Putting a Business Idea into Practice - [1.3.1 Business Aims](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-1-business-aims.md) - [1.3.2 Business Objectives](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-2-business-objectives.md) - [1.3.3 Business Revenues & Costs](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-3-business-revenues-and-costs.md) - [1.3.4 Costs - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-4-costs-calculations.md) - [1.3.5 Revenue - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-5-revenue-calculations.md) - [1.3.6 Business Profits & Break-Even Analysis](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-6-business-profits-and-break-even-analysis.md) - [1.3.7 Profits & Losses - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-7-profits-and-losses-calculations.md) - [1.3.8 Interest - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-8-interest-calculations.md) - [1.3.9 Cash & Cash Flow](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-9-cash-and-cash-flow.md) - [1.3.10 Cash & Cash Flow 2](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-10-cash-and-cash-flow-2.md) - [1.3.11 Cash Flow - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-11-cash-flow-calculations.md) - [1.3.12 Sources of Business Finance](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-12-sources-of-business-finance.md) - [1.3.13 End of Topic Test - Business in Practice](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-13-end-of-topic-test-business-in-practice.md) - [1.3.14 Grade 9 - Business in Practice](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-14-grade-9-business-in-practice.md) - [1.3.15 Exam-Style Questions - Business in Practice](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-15-exam-style-questions-business-in-practice.md) - [1.3.16 Diagnostic Misconceptions - Profit](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-16-diagnostic-misconceptions-profit.md) - [1.3.17 Diagnostic Misconceptions - Company vs Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-17-diagnostic-misconceptions-company-vs-business.md) - [1.3.18 Diagnostic Misconceptions - Economies of Scale](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-18-diagnostic-misconceptions-economies-of-scale.md) - [1.3.19 Diagnostic Misconceptions - Cash Flow](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-19-diagnostic-misconceptions-cash-flow.md) - [1.3.20 Diagnostic Misconceptions - Break-even](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-20-diagnostic-misconceptions-break-even.md) - [1.3.21 Diagnostic Misconceptions - Fixed Costs](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-3-21-diagnostic-misconceptions-fixed-costs.md) - 1.4 Making the Business Effective - [1.4.1 The Options for Start-Up & Small Businesses](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-1-the-options-for-start-up-and-small-businesses.md) - [1.4.2 Limited Liability](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-2-limited-liability.md) - [1.4.3 Franchising & Not-For-Profits](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-3-franchising-and-not-for-profits.md) - [1.4.4 Business Location](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-4-business-location.md) - [1.4.5 The Marketing Mix](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-5-the-marketing-mix.md) - [1.4.6 Business Plans](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-6-business-plans.md) - [1.4.7 End of Topic Test - Effective Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-7-end-of-topic-test-effective-business.md) - [1.4.8 Application Questions - Effective Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-8-application-questions-effective-business.md) - [1.4.9 Exam-Style Questions - Business Plans](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-4-9-exam-style-questions-business-plans.md) - 1.5 Business Stakeholders - [1.5.1 Business Stakeholders](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-1-business-stakeholders.md) - [1.5.2 Technology & Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-2-technology-and-business.md) - [1.5.3 Legislation & Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-3-legislation-and-business.md) - [1.5.4 Legislation & Business 2](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-4-legislation-and-business-2.md) - [1.5.5 The Economy & Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-5-the-economy-and-business.md) - [1.5.6 External Influences](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-6-external-influences.md) - [1.5.7 End of Topic Test - Business Stakeholders](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-7-end-of-topic-test-business-stakeholders.md) - [1.5.8 Grade 9 - Business Stakeholders](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-8-grade-9-business-stakeholders.md) - [1.5.9 Diagnostic Misconceptions - Recessions](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/1-5-9-diagnostic-misconceptions-recessions.md) ### 2 Building a Business - 2.1 Growing the Business - [2.1.1 Business Growth](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-1-business-growth.md) - [2.1.2 Finance](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-2-finance.md) - [2.1.3 Changes in Business Aims & Globalisation](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-3-changes-in-business-aims-and-globalisation.md) - [2.1.4 Ethics & Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-4-ethics-and-business.md) - [2.1.5 The Environment & Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-5-the-environment-and-business.md) - [2.1.6 End of Topic Test - Growing a Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-6-end-of-topic-test-growing-a-business.md) - [2.1.7 Application Questions - Growing a Business](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-7-application-questions-growing-a-business.md) - [2.1.8 Exam-Style Questions - Business Growth](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-1-8-exam-style-questions-business-growth.md) - 2.2 Making Marketing Decisions - [2.2.1 Product](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-1-product.md) - [2.2.2 Product Life Cycle](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-2-product-life-cycle.md) - [2.2.3 Price](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-3-price.md) - [2.2.4 Pricing Methods](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-4-pricing-methods.md) - [2.2.5 End of Topic Test - Product & Price](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-5-end-of-topic-test-product-and-price.md) - [2.2.6 Grade 9 - Product & Price](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-6-grade-9-product-and-price.md) - [2.2.7 Promotion & Advertising](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-7-promotion-and-advertising.md) - [2.2.8 PR & Sales Promotions](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-8-pr-and-sales-promotions.md) - [2.2.9 Sponsorship & Product Placement](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-9-sponsorship-and-product-placement.md) - [2.2.10 Promotional Mix](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-10-promotional-mix.md) - [2.2.11 End of Topic Test - Promotion](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-11-end-of-topic-test-promotion.md) - [2.2.12 Application Questions - Promotion](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-12-application-questions-promotion.md) - [2.2.13 Exam-Style Questions - Promotional Mix](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-13-exam-style-questions-promotional-mix.md) - [2.2.14 Place & Wholesalers](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-14-place-and-wholesalers.md) - [2.2.15 Direct to Consumer](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-15-direct-to-consumer.md) - [2.2.16 E-commerce & M-commerce](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-16-e-commerce-and-m-commerce.md) - [2.2.17 Diagnostic Misconceptions - Decreasing Price](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-17-diagnostic-misconceptions-decreasing-price.md) - [2.2.18 Diagnostic Misconceptions - Advertise vs Promote](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-18-diagnostic-misconceptions-advertise-vs-promote.md) - [2.2.19 Diagnostic Misconceptions - Social Media](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-2-19-diagnostic-misconceptions-social-media.md) - 2.3 Making Operational Decisions - [2.3.1 Job Production](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-1-job-production.md) - [2.3.2 Batch & Flow Production](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-2-batch-and-flow-production.md) - [2.3.3 Working with Suppliers](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-3-working-with-suppliers.md) - [2.3.4 Effective Supply Chains](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-4-effective-supply-chains.md) - [2.3.5 Just In Time & Just In Case](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-5-just-in-time-and-just-in-case.md) - [2.3.6 Managing Quality](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-6-managing-quality.md) - [2.3.7 Total Quality Management](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-7-total-quality-management.md) - [2.3.8 The Sales Process](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-8-the-sales-process.md) - [2.3.9 End of Topic Test - Operational Decisions](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-9-end-of-topic-test-operational-decisions.md) - [2.3.10 Grade 9 - Operational Decisions](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-10-grade-9-operational-decisions.md) - [2.3.11 Exam-Style Questions - Managing Stock](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-11-exam-style-questions-managing-stock.md) - [2.3.12 Diagnostic Misconceptions - JIT vs JIC](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-3-12-diagnostic-misconceptions-jit-vs-jic.md) - 2.4 Making Financial Decisions - [2.4.1 Gross Profit & Net Profit - Definitions](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-1-gross-profit-and-net-profit-definitions.md) - [2.4.2 Gross Profit - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-2-gross-profit-calculations.md) - [2.4.3 Net Profit - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-3-net-profit-calculations.md) - [2.4.4 Rate of Return](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-4-rate-of-return.md) - [2.4.5 Rate of Return - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-5-rate-of-return-calculations.md) - [2.4.6 Research & Financial Data](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-6-research-and-financial-data.md) - [2.4.7 Marketing Data](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-7-marketing-data.md) - [2.4.8 Percentage Change - Calculations](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-4-8-percentage-change-calculations.md) - 2.5 Making Human Resource Decisions - [2.5.1 Organisational Structures](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-1-organisational-structures.md) - [2.5.2 Organisational Structures 2](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-2-organisational-structures-2.md) - [2.5.3 Recruitment](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-3-recruitment.md) - [2.5.4 Effective Recruitment](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-4-effective-recruitment.md) - [2.5.5 Training a Workforce](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-5-training-a-workforce.md) - [2.5.6 Motivating a Workforce](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-6-motivating-a-workforce.md) - [2.5.7 End of Topic Tests - Human Resources](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-7-end-of-topic-tests-human-resources.md) - [2.5.8 Application Questions - Human Resources](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-8-application-questions-human-resources.md) - [2.5.9 Exam-Style Questions - Human Resources](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-9-exam-style-questions-human-resources.md) - [2.5.10 Diagnostic Misconceptions - Owners vs Shareholders](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-10-diagnostic-misconceptions-owners-vs-shareholders.md) - [2.5.11 Diagnostic Misconceptions - Internal Recruitment](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-11-diagnostic-misconceptions-internal-recruitment.md) - [2.5.12 Diagnostic Misconceptions - Employee Motivation](https://senecalearning.com/en-gb/revision-notes/gcse/business/edexcel/2-5-12-diagnostic-misconceptions-employee-motivation.md)