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Business Organisation - Assignment Example

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Businesses started to get more organised hence the world witnessed the golden era of the business world. The rapid strides that the business world made was the direct result of the determination a human has towards…
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Download file to see previous pages The main aim behind all these changes and sophistications was to create a system under which the business world could grow. The introduction of legalities was another aspect that played a huge role in the development of the business world. The legalities made sure that the business practices are free from any element that can hurt a belief, value, culture, norm, etc.
Business can be intuited after a thorough research of the market also keeping in view the personal capability as well. A grocery store can be a good investment especially for the one who is entering the business world. The option of grocery business is selected as the chances of return in the business are high and the complexities of legal procedures and licenses, etc. are not included (Pakroo, 2012).
The sole proprietorship nature of the business allows it to be started more conveniently than other forms of business. The procedure might not be easy but it is not complex either. The sole proprietorship business puts all of the responsibility on the shoulder of the owner. The unlimited liability of the owner in the business is rather challenging.
Sole proprietorship business can be started without any hassle as it does not involve any formalities that large corporations require. The first responsibility of the owner to start the business is choosing a name for the business. Starting a grocery store will not involve any complexities of partnerships that big corporations require at the start of their operations.
In the grocery store the requirement of acquiring a license is not included. License to sell different products may be a requirement in some cases but they can be obtained rather easily. For example to sell liquor a license is needed and it can be obtained much more easily than acquiring a license to start a business involving partners or corporations.
The next step in starting a business is the selection of a name. ...Download file to see next pagesRead More
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