Creating_Financing_Marketing A Bussiness - Assignment Example

Creating, financing, marketing a business Pros and cons of the partnership form of business A partnership is a form of business organization with twoto 20 co owners. The group ownership offers a number of advantages such as a wide scope of talents because each member contributes skills, a wide capital base, relative to sole proprietorship, it is easy to form because of limited legal requirements, and it is not liable for tax. Its disadvantages however include members’ unlimited liability, lengthy decision-making processes due to potential disagreements, and members’ lack of full authority over capital share (Hatten, 2011).

Funding options for small businessSmall businesses generate their funding from equity and debt sources. Equity funding includes partners’ contributions, ploughed back profit, offers for the shares, personal contributions, and gifts, while debt funding includes loans from financial institutions, insurance companies and government agencies (Hatten, 2011). Benefits of managerial accounting to product costing, incremental analysis, and budgetingManagerial accounting can help managers with product costing, incremental analysis, and budgeting by providing necessary accounting information such as costs, cost variance and forecasts to aid managerial decision making in determining and regulating costs as well as in budgeting (Debarshi, 2011).

Basic components of the marketing process for designer clothesThe marketing process defines the target market for the clothes, quantifies its potential, and evaluates the value of satisfying the potential. The process also includes communication of the determined information to management and evaluation of delivered clothes to the market and initiated response (McDonald and Wilson, 2011).Roles of social responsibility and technology in marketingSocial responsibility establishes a friendly relationship between an organization and its market towards acceptance of the organization’s products while technology facilitates efficiency and effectiveness of marketing initiatives (Hatten, 2011).

ReferencesDebarshi, B. (2011). Management accounting. New Delhi: Pearson Education India.Hatten, T. (2011). Small business management: Entrepreneurship and beyond. Mason, OH: Cengage Learning. McDonald, M. and Wilson, H. (2011). Marketing plans: How to prepare them, how to use them. New Jersey, NJ: John Wiley & Sons.