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Before Jackie goes into business, she must already consider the form of business that she must form to prevent complications later on as well as establish continuity. Thus, she must take into consideration the various forms of business organizations and pick one that will allow her to operate her business successfully…
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Business Organizations: Jackie’s Case Before Jackie goes into business, she must already consider the form of business that she must form to preventcomplications later on as well as establish continuity. Thus, she must take into consideration the various forms of business organizations and pick one that will allow her to operate her business successfully. There are three primary forms of business organizations in the United States, namely: the sole proprietorships, partnerships and corporations. A sole proprietorship is owned by a single natural person, a partnership is owned by more than one person and a corporation is a juridical entity, which has a personality distinct from its shareholders. In between a partnership and a corporation is a business form called limited liability organization, which takes some of the features of partnerships as well as that of corporations. Considering that the business needs potential large-scale operations because of the expenses it will entail, it is best that Jackie should choose to incorporate her business as a corporation. The following paragraphs give the advantages and dia=sadvantages o each form of business organization. The sole proprietorship is the most easy to form among all the other forms of business organizations as no formalities are required for its formation except complying with the usual government regulations concerning the operations of certain businesses. Since no formalities are required, the business may be operated by the owner any way he wants (Goldman & Sigismond 430). Since the sole proprietorship is an extension of its owner’s personality, the death of the latter also formally ends its existence (Mastrianna 7). Partnerships on the other hand, also suffer the same disadvantage as the sole proprietor when it comes to continuity because death or withdrawal of any of the owners legally dissolves it (Mastrianna 8). A corporation is the most complex of these forms of organizations because it entails a lot of paperwork and requires certain formalities. However, it is the most stable of all since the death of any of its stockholders will not affect its continuity or existence since stocks can be transferred from one stockholder to another (Mastrianna 38). A sole proprietor provides for the capital as well as shoulders the losses of the business. If the business incurs any liability in its course, the owner and his property, even those not used in the business, may be made to answer for such liabilities ((Goldman & Sigismond 430). In a partnership, the partners share both profits and losses in accordance to a previously agreed ration. As with the sole proprietorship, the personal resources of the partners may be made to answer for the liabilities of the business (Needles et al 16). A corporation, on the other hand, being a distinct personality from its shareholders, is the only entity responsible for the losses, debts and other liabilities of the business, unless the court has determined that it is being used by the persons behind it for some illegality, in which case, the court may be forced to lift the veil of corporate entity. Thus, normally, the properties of owners and managers are not made to answer for any of the liabilities of the business unlike in sole proprietorship and partnership (Schneeman 22). Stockholders can pledge their stocks to obtain loans (Mastrianna). There are no special tax advantages being enjoyed by a sole proprietor (Goldman & Sigismond 430). Partners, likewise, must pay taxes as personal income from the profits they get individually from the business, in addition to the regular business taxes. Corporations, however, must pay its own income taxes apart from those to be paid by stockholders on their own from dividends they receive from the company.(Mastrianna 38). Many sole proprietorships eventually closes because of the difficulty of getting enough capital for the business, in case of large-scale operations, since only one person contributes to its operation, who is also liable for all its debts ((Goldman & Sigismond 431). Partnerships, because its ownership is comprised of more than one person can comparatively raise bigger amounts to sustain its operation than sole proprietorships. Moreover, functions of the business can be divided among the several owners, which would make maintenance easier. Nonetheless, any erroneous decision of one partner impacts the others as they are bound by the former’s acts (Mastrianna 38). Corporations, although the most complex, has a distinct advantage over the others because it can support large scale operations considering that money can be easily raised by selling its stocks (Mastrianna 28). Works Cited Goldman, Arnold and William Sigismond. Business Law: Principles and Practices (8th Ed.). Cengage Learning, 2010. Needles, Belverd and Marian Powers, Susan Crosson. Principles of Accounting (11th Ed.). Cengage Learning, 2010. Mastrianna, Frank. Basic Economics (15th Ed.). Cengage Learning, 2009.
This section aims at understanding the challenges faced by the United Nations due to political conflicts. In the summer of 2007, an issue in the Politically Speaking, the DPA had highlighted the increased focus on the conflict meditation. This report had also highlighted the interview with the Under-Secretary-General for political affairs. In the interview, he defended the UN against all the criticism and he also highlighted the need for finding political solutions for issues around the world. The interview also highlighted the importance of results to show the effective working of the UN. This interview also highlighted and urged critics to look at the positive along with the negatives of the UN. “The UN has knowledgeable a...
Liberalization of foreign investment and technology policy of the government is supportive of establishing industrial units in the country.
Threat: The UK food regulatory authority is planning to enforce the EC Regulations relating to food labeling. The labeling requirements under the new regulations will affect the food industry as the suppliers will be legally obliged to disclose the GM content of foods to the caterers. Thus business firms in the bakery industry also will be effected through the exclusion of flexible manner of labeling arrangements in the case of flour confectionery involving GM Soya or maize. (Genetically modified and novel foods (labeling) (England) regulations, 2000).
Evandale’s mission would have a strong impact on the company’s later brand development. When a company determines its mission and its vision, it needed to determine its objectives to accomplish that vision. I did not see the objectives—where the company was heading through in the presentation. A clear objective would have enabled me, as an audience to also picture where the company would want to go and would serve as the benchmark for me to assess the later strategic choices the company would state in the presentation. According to the slides, the potential demand for caviar and the sturgeon products are “100x” bigger than the current supply. I would have wanted to see a reliable source for...
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Who wants to give a guess? How about you (pointing at someone in the audience), yes, what is your name? Adam? What do you think, Adam – Money, Machines, Management, and Manpower? Why do you think so? And how about you, ma’am (someone else in the audience) – do you agree with him?
I think we are all in agreement: you could have Money, Machines and Management, but without Manpower, you cannot have a business. And unless you have good Manpower working well together, you cannot have a successful business.
Do people work well together naturally? Those of you who are familiar with office politics will say, “Of course not!” You are right: left to themselves, few people work well toget...
In other words, there is no explicit reference to the achievement of long term objectives and the people being involved in the business with the express intention of making profits.
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The main issue that needs to be tackled first is whether there is a valid contract between Richard Brat, carrying on trade as Brighton Greens, (buyer) and Molly and Kelly trading in First Grade Granny Smith apples as Holy Farm.
Apparently, there was, when considering their verbal and written mail sent by Richard to Holy Farm on August 1 reading as follows –“Please deliver 20 boxes –Granny Smith ‘Brighton Greens’. Cheque mailed.“
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On the other hand, these globalization standards are opposed by some critics and argue that globalization does not have to be a requirement for putting up a business in other countries, thus it is just a choice for entering a foreign market. Accordingly, standardization is applicable specifically to high-end markets and with accord to the market segmentation such as the trends that the young people patronize (Mullman, 2006) Regardless of the idea that globalization is mostly based on how the company standardizes the products, the home country still holds the profitability of the business as the economy affects how the foreign investors and other national sources back up the business (Stiglitz, 2006). Making the world flat mak...
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