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Business Organization - Essay Example

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This essay "Business Organization' discusses entity to use to organize the company. Also, it analyses the advantages and disadvantages this entity. It describes what should be included in a partnership agreement and identify the key functions for the production processes…
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Business Organization
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Download file to see previous pages More flexible: Even though an LLC should file all its articles with the national government, it has a more flexible management as compared to a corporation. In this regard, this permits the business owner to develop a structure based on the needs of the business owners.
Little compliance issues: In most cases, an LLC does not require an annual general meeting or a board of directors. In addition, there is less paperwork as well as record keeping needed in comparison to a corporation.
With regard to building capital, unlike corporations that issue stock so as to increase funds for their companies, limited liability companies have to put in more effort to look for investors along with other sources of capital.
Percentage of ownership: The partners should record the amount of money each partner contributes to the partnership before its opening. These contributions are utilized as the basis of ownership percentage.
Death of a partner: If a partner dies or leaves the partnership there is a need to have a buy or sale agreement. It outlines a method by which the partnership interest will be valued and interest purchased.
Being a great place for the people to work in addition to developing responsible citizens by supporting and building sustainable communities, and getting the customer’s associate the company’s products with absolute best service.
The leadership of the firm will comprise of the executive management, senior managers, and head of departments who will ensure strategic direction of the business. The company will employ democratic leadership. An open-door policy will be adopted and most decisions will make prior to consulting.
The inputs to make a Smartphone that has an excellent phone, camera, a music player include several sketches as well as wireframes. The sketches will determine the phone’s size, portability, and weight. The team will decide which designs will become prototypes. ...Download file to see next pagesRead More
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