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The advantages of this form of business would be that this business form is easy to establish and there are no legalities involved in setting up. Once the business is set up Vick can start trading as early as possible. An overwhelming advantage of being a sole trader is that one is not required to answer to anyone as they are the sole owners. Decisions regarding the company can be made quickly and efficiently.
However, being a sole trader can have a number of disadvantages such as a lack of collective minds. The owner may not have sufficient experience or knowledge to run the business and perhaps being in a partnership would help him. Being a single owner of a business can greatly affect the social life of a person as a holiday would mean a closed office. Economies of scale are also difficult to achieve and cost of production is comparatively high.
If Vick decides to go into a partnership he will have to invest less capital into the starting of the business but as such the profits from the business will also have to be shared equally amongst the partners. The variety in terms of minds in the ownership will help to enhance the business through the integration of qualities from all partners. Work can be shared and so can be the liabilities of the business. If the business does incur debt in a partnership there are fewer chances of personal assets being sold off.
Once again this business form has downsides of which the first would be the lack of freedom in decision making. Contracts are also required to maintain legal constraints on the business and the profit division terms need to be defined. And if one partner wishes to either retire from the business or expires the partnership is defunct.
As far as a public limited company is concerned, it will allow shareholders to have limited liability in the business and raising capital is easier as an additional issuance of debenture and
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Knowledge of constituent aspects is important as it ensures the success of the respective events. London National Wedding Show is an event of great national importance. Through this, organizers are able to explore the social, economic and cultural aspects of the society.
In such an event, the outcome is significant which means that it needs a proper plan to achieve with plausible results. It is in the best interest of the management to plan for an event that will be interesting and entertaining to all players, spectators and viewers.
The festival will embed the city with giant screens across 22 towns and cities across UK preparing the entertainment platform for thousands of people throughout the day (London 2012 Festival Hits the Big Screens to Mark Opening Day, 2012).
This fact among others led to the development of the public relation strategy, which is a marketing strategy that mainly aims at creating a new public image or perception on someone or something and it is commonly applied in a situation whereby the media has negatively portrayed something or someone thereby damaging its reputation.
Introduction 26 Discussion 26 Conclusion 27 References 29 Section 1: Intellectual Property Introduction Intellectual property (IP) can be defined as the lawful rights that originate from the conduct of intellectual activities performed in the scientific, industrial, artistic and literary fields.
Jenny McSwindle has to use Mr. Finbar's children songs and got the publicity requires for more of the songs. Due to some loss in finance Ms. Jenny McSwindle cancels the order but it was a bit late as Mr. Finbar had already sent the songs. In the forth writing it is all about the Irish law.
The author states that marketing global violence in the global games industry has been noticed to be very threatening. Since, various researches reveal that violence in video games has reflected a deep impact on kids and youngsters therefore this paper aims to research into the topic. The major target for violent video games are kids and teenagers.
Disney’s leadership manages the greatest global media company with the most respected visionaries around the world supporting the company (Janet 34).
The company focuses on generating best and creative content possible to foster
To rescue the local people, a helicopter was sent, which got crashed and exploded in a building leading to fire. The building was the location of a pediatric unit. Margaret, who is the Registered Nurse.
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