Owner is – If Sinaumed’s is an entrepreneur, then Sinaumed’s needs to understand important terms related to business. One of the most important things to know in the business world is the term ‘Owner’, which refers to a person who has the right to carry out business activities. Apart from owner, another term that is closely related is founder. Even though these two terms seem the same, however, the owner and founder are different.
So that Sinaumed’s as a business actor is not wrong in mentioning the role of Sinaumed’s in the business world, Sinaumed’s needs to know what an owner is and its duties and differences from the founder. By knowing the meaning of owner, Sinaumed’s can identify the role appropriately.
Definition of Owner
Owner is an English word from the word own which means own or owner. Then, the term owner is widely used in the business world as a form of representation of people who own projects or finance and ensure business flows run smoothly. The word owner is also widely used by Indonesian people in everyday conversation. The word owner is usually used to refer to someone who owns a business.
However, the notion of owner can be seen from various angles. In Indonesian, owner means owner. However, in the business world, a person can be called an owner if he is the owner of the business. Therefore, the owner is also often referred to as the big boss whose job is to ensure that the business runs smoothly.
In general, the word owner is more focused on being used for company owners or people who invest in companies. Owners can also be individuals or groups.
In essence, the owner is someone who runs or invests in the company.
Owner can also be defined as someone who owns most or all of the shares of a company. An owner has the right to all profits obtained by the company, and also has responsibility for losses experienced by the company. In addition, the owner is also often known as the main shareholder ( shareholder ) in a company.
Duties and Responsibilities of the Owner
As the main shareholder, the owner is obliged to establish and manage the company in accordance with its vision and mission. He is also responsible for all of the company’s assets, both financial and other assets. The owner also has the right to determine the direction of company policy, as well as make all important decisions that will be taken by the company.
An owner is someone who owns a company or business. He is responsible for everything that happens in his company or business, be it success or failure. The responsibility of an owner is not only limited to financial aspects, but also includes legal, management and business strategy aspects.
To be clearer, see an explanation of the duties and responsibilities of an owner in running a business or company.
1. Leading the Company
An owner has a duty to be a leader and is required to be able to ensure that his industry or business can run smoothly. The responsibility of an owner is certainly not easy.
There are many owners who then hand over their authority to directors and managers as the holder of the highest position after himself. Apart from being in charge of ensuring the business runs smoothly, owners are also required to actively coordinate with employees.
2. Make Company Rules
The authority of an owner is to make rules and policies that apply in the company and later, these policies must be obeyed by every employee or employee.
The process of making policies and regulations cannot be done haphazardly by an owner, even though he has that authority. Regulations and policies must be adapted to the conditions and risks that may occur in a company or business.
An owner has the right to fire employees who do not comply with the rules or give a warning in the form of an SP or a Warning Letter as a form of reprimand.
Everything is done so that the business run by the company can run smoothly and the performance of employees can be maximized.
3. Have Responsibility for Company Losses
Loss or profit in the business world has become a common thing, in this case the loss is of course the responsibility of an owner. Therefore, the owner is required to find a solution so that not all aspects of the company receive a negative impact from the company’s losses, especially for employees.
When experiencing a loss, business owners or owners will generally ask for help from other companies. The owner is required to be willing to intervene to negotiate the losses suffered by the company. That way, similar incidents will not be repeated.
4. Develop a Business Strategy
Marketing strategy development must be continuously updated, so that the company can achieve maximum results in running its business. The development of this business strategy is the responsibility of an owner so that he can fulfill the company’s vision and mission. Managing markets and finances is the most important thing in the steps of preparing a business plan.
5. Provide Cost or Budget for the Company
From the understanding of the owner, it can be seen that the owner is not only a business or company owner, but also someone who invests in certain companies.
Therefore, the job of an owner is to provide a budget for the company. The owner must be able to provide initial capital so that a company can stand up and continue to ensure that there is a budget used for the company’s operations.
The budget for the company can be from personal funds or loans. An owner is not allowed to miss this task and cannot be represented by someone else.
6. Conduct Evaluation
While supervising the running of the company, the owner must be sensitive if he finds something wrong with his business. Then, from the problem he found, an owner is required to think quickly to quickly find a solution. The solution taken should also not be based on mere emotion, but must be based on careful consideration by considering several factors.
7. Issuing Decisions
The predicate of the owner is quite a heavy predicate, because an owner holds important responsibilities and duties for the smooth running of the business and the fate of the company’s employees.
One of the most important duties and responsibilities of an owner is making decisions. It is important for an owner to be present at every meeting, be it an evaluation meeting or an annual meeting.
All decisions from the owner can be decisive, whether the business run by the company can run well or vice versa.
Owner Function in a Company
In a company, the owner is someone who holds shares of more than 50% of all outstanding shares. In addition, he is also often referred to as the owner of the company or the main commissioner. The owner has responsibility for company policy and has full authority in managing the company.
Sometimes a question arises “why is an owner needed in a company?” Questions like this usually arise when discussing management buyout (MBO).
MBO is a process in which a group of senior executives and management gain control of a company by purchasing its shares from the original owners. This is done so that they are no longer influenced by the policies of the original owners and are able to manage the company according to its vision and mission.
In addition, the owner is also needed because it has several main functions in order to be able to run the company’s business, manage employees or their subordinates and ensure that sales are increasing. Here are some of the main functions of an owner in a company or business.
1. Providing Funds
The main function of an owner is to provide funds or money for the continuation of buying and selling carried out by the company. Starting from production costs to promotion must be in accordance with the financial plan of the company or business.
2. Carry out administrative activities
The second function of a company owner is to carry out administrative activities. Therefore, an owner must be capable and proficient in all administrative activities, for example such as compiling reports on the entry or exit of goods, dealing with permits, keeping financial records and so on.
Administrative activities must be carried out routinely, so that the progress of the company’s business is not hampered. In general, the affairs of this administrative activity will relate directly to government offices, such as customs and taxes.
3. Giving Tasks to Employees
Another function of an owner is to give tasks or jobs to employees and employees. These tasks include promotion, marketing, shipping, packaging and so on.
Difference between Owner and Founder
When talking about a company, the terms ‘owner’ and ‘founder’ are often read with the same words. In fact, if you look closely, these two terms have different meanings.
The term ‘owner’ is usually used to communicate that someone owns shares or part of a company. Meanwhile, the term ‘founder’ is used to refer to people who have created a company or business.
In some cases, the terms ‘owner’ and ‘founder’ may be used together to refer to a person who has founded a company. However, there are also several examples of using these two terms simultaneously and interpreting the terms owner and founder as the same term.
However, when translated, the meaning of owner and founder can be in the form of the following.
The owner is someone who is above the organizational structure and has full control over all aspects of the company’s operations. The owner is usually the founder or owner of the company, who has the authority to make all strategic decisions.
However, in some cases, owner and founder can be two different positions. Founder is someone who first founded a company and creates value for the company. Founders usually have a long-term vision for the company and will continue to have an active role in developing it.
While the owner is someone who officially has full control over a company, either through share ownership or a certain position. The owner is often not the founder of the company, but he or she may be the third or fourth generation of a family business.
A founder can be defined as someone who creates a company or organization. While the owner is someone who owns the company or organization. The founder usually participates in managing the company, while the owner may not be directly involved in the company’s operations. The owner can be a group or business entity, and not just one person.
The difference between owner and founder is not only seen from their understanding, but can also be seen from the ownership status of the company and the tasks they have. Here’s an explanation.
1. Business Ownership Status
The status of an owner can fluctuate from time to time based on the largest share ownership and the most profit sharing.
As long as an owner does not relinquish his share ownership, he can continue to be an owner or carry that title. This is of course different from the title of founder, because regardless of the status of business ownership, the role of a founder cannot be replaced.
This is because the party who first set up the business will continue to be referred to as the founder of the business or company, even when that party decides to sell the company or share ownership they own.
In fact, it is not uncommon for someone to be called the founder even though the business he is running is no longer operational or may have gone bankrupt.
2. Tasks
When viewed from their duties, there are some fundamental differences between an owner and a founder. As the first party to set up a company, the founder’s job is to compile a SABH or also known as a Legal Entity Administration System to ensure the legality of the business operations they have.
An owner is not required to have multiple roles, because he could have joined after the SABH was drafted. The owner will have more roles in business operations.
In general, the job of an owner is to ensure a business operation has a good enough performance, so that the business can generate profits and not suffer losses.
This also causes more owners to be in strategic positions in top managerial positions. An owner can determine the direction of developing his business and determine the steps that need to be taken to achieve the goals of this development.
Meanwhile, the founder, if he does not concurrently act as an owner, will not take too much of a role in business operational matters. In practice, sometimes the owner is also allowed to decide that he does not want to be involved much in business operations and hand over his function to run the business to other parties.
When concluded, the basic difference between a founder and an owner can be seen from their understanding. A founder is generally someone who has an idea and sparks an initial idea or idea about the business he will run.
A founder can be called an owner, because all profits will go to the founder. However, over time, the status of the owner on a founder can be lost, if the founder relinquishes the ownership shares of the company he owns.
Meanwhile, an owner is an individual, group or organization that invests in shares, provides capital and invests in a business. In simple terms, owners are parties who own a business.
That’s the explanation about the owner is a business owner. For Sinaumed’s who want to become an entrepreneur and become an owner, Sinaumed’s can learn about business by reading books.
As #FriendsWithoutLimits, sinaumedia.com always provides various kinds of quality and original books for Sinaumed’s! Reading lots of books and articles will never hurt you, because Sinaumed’s will get #MoreWithReading information and knowledge.
Author: Khansa
Reference:
- https://katadata.co.id/redaksi/ekonopedia/62a7f2e5e9a8b/definition-owner-si-bos-large-enterprise-dan-bedanya-dengan-founder
- https://www.linovhr.com/owner-dan-founder/#/differences
- https://habibhidayat.com/owner- is-owner-of-company-beda-dengan-ceo#Tagas_dan_Peran_Penting_Owner