...A Business Forms of Organization SOLE PROPRIETORSHIP: A sole proprietorship business is owned by a single individual and is not legally differentiated from the owner. It is the simplest form of business as there is less paperwork and it is subject to fewer regulations and restrictions. It is not usually required to register as a business unless it operates under a fictitious name or provides supplies or services that require licensing. The owner has complete autonomy for all business decisions and is the sole recipient of the business’s earnings. Likewise, the sole owner is completely responsible for all the business’s liabilities. Funding for working capital is based on and limited to the owner’s personal credit. • Liability: The owner has unlimited and unshared liability for all business debts. If the business falters, all business assets as well as all personal and family assets are at risk of garnishment except for the owner’s life insurance. • Income taxes: As a company, a sole proprietorship does not pay federal income tax. The sole proprietorship is a pass-through organization and all earnings are taxed as the owner’s personal income and generally filed with their personal income tax return on IRS Schedule C: Profit or Loss from Business. • Longevity or continuity of the organization: The owner can dissolve the business at will but the business cannot be passed on. If the owner dies or can no longer operate the business, the business ends...
Words: 2516 - Pages: 11
...I have chosen to start a new business with the New Parents’ Essential product. Initiating a business with an innovative product like the New Parents’ Essential is tantamount to entering the market with a new organizational form. This seems to pose two main challenges. The first challenge would be to face environmental selection in the midst of the competition between all the various organizational forms that sell infant related products. We have to make sure our organizational form can best attract customers so that we can survive and thrive amongst all the other organizations. The second challenge we face will be the lack of legitimation. Since our products are really new and innovative, our organizational form may lack a general sense of social acceptance whereby customers are not sure if they really want or need our products. When our organizational form is new and legitimation is low, it may also be hard to get critical resources such as employees, investors and customers. To address the first problem, market research would have to be done to first understand which organizational forms are thriving in the market and which forms are not. It is important to understand the organizational environment and what are the key characteristics of a desirable organizational form before determining what types of strategies and methods to implement. One key information that is important is the environmental carrying capacity and we will make sure that the population is not...
Words: 723 - Pages: 3
...Running head: ORGANIZATIONAL STRUCTURE DISCUSSION SUMMARY Corporate Strategy Analysis Summary Team C MGT/230 June 29, 2015 Jack Geer 1 ORGANIZATIONAL STRUCTURE DISCUSSION SUMMARY 2 Organizational Structure Summary Introduction As a corporation, it is important that an organizational structure is put in place to achieve maximum efficiency. There are three main types of organizational structure: functional, divisional, and matrix. As with everything, there are advantages and disadvantages of each structure. Organizational Structures Functional Organization: In a functional organization, jobs are specialized and grouped according to business functions and the skills they require. Functional structures are best with smaller simple environments. They tend to have two layers, the first being the CEO and the second being production, marketing, human resources, research and development, finance, accounting, and so forth. Other forms tend to be more flexible and responsive than the functional form. The largest advantage of having a functional form is the cost. Seeing that as the organization has many different employees in one level, it is easy to spend less money on equipment as well has have a higher production rate. Other great advantages of a functional structure are; the employee performance which is better maintained and communication is precise and clearly elaborate...
Words: 822 - Pages: 4
...https://hwguiders.com/downloads/fin-415-week-1-risk-management-overview-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Risk Management Overview Paper In organizational and business risk you will find dangers regarded as risks that will relate into adverse reactions or big problems that can take place in addition to a task or activities in the company. It is very important check danger in the company this check will allow management find out how to tackle the procedure. These reports will translate to administration what modifications in the organization will be required so as to function. The procedure is essential for the good results. It should be observed and managed through every phase of the procedure. TO DOWNLOAD COMPLETE TUTORIAL HIT PURCHASE BUTTON FIN 415 Week 1 Risk Management Overview Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders.com/downloads/fin-415-week-1-risk-management-overview-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Risk Management Overview Paper In organizational and business risk you will find dangers regarded as risks that will relate into adverse reactions or big problems that...
Words: 3591 - Pages: 15
...On Marketing Plan Submitted by: Submitted to: Date of submission: Table of Contents Executive summary: 5 Introduction: 7 Methodology: 7 Part A- Essay: 7 A.01 Changed perception in marketing plan: 7 A.02 Barriers to marketing plan: 7 Marketing function isolation: 8 Organizational barriers: 8 Demographic factors: 8 Economic factors: 8 Technological factors: 8 Culture: 8 A.03 Techniques for overcoming barriers to marketing plan: 8 Be strategic: 8 Be realistic: 8 Stay focused: 9 Monitor the budgets: 9 Market research: 9 A.04 Importance of marketing plan in the strategic plan: 9 Product: 9 Price: 9 Promotion: 9 Place: 9 A.05 Ethical issues in marketing plan: 10 A.06 Organization responses to ethical issues: 10 Individualistic approach: 10 Communal approach: 10 A.07 Example of consumer’s ethics and the effect on the marketing plan: 11 Part B: Preparing marketing plan 11 B.01 Organizational capability evaluation: 11 Business experience: 11 Business reputation: 11 Company culture: 11 Business environment: 11 B.02 Techniques used in organizational auditing and analyzing external factors: 11 B.03Carried out organizational audit and external factors analysis that affect marketing plan: 12 SWOT analysis of the Toyota Company: 12 PEST analysis for Toyota Company: 13 B.04Marketing plan: 14 Marketing objective: 14 Objectives: 14 Strategy statement market share: 14 Brand awareness: 14 Current and...
Words: 4075 - Pages: 17
...Assignment Brief | Title of Qualification:Edexcel BTEC Level 4 HNC in Business | Unit title: Unit 1 Business Environment | Unit code(s): Y/601/0546 | Learner:Nuraiym Azygalieva | Assessor:Dinara Bobusheva | Internal Verifier:Talant Asan uulu | Title of Assignment:Organizational purposes of Business and effective strategy in context of Business start-up.Grading criteria: P1.1, P1.2, P1.3; M1; D1.Related learning outcomes:LO1: Understand the organizational purposes of businesses. | Assignment Number:__1__of __3__for this Unit | Date assigned:November 1, 2013 | Date of review:November 8, 2013 | Date for final submission:November 15, 2013 | Learner declaration:I confirm that this assignment is my own work and any assistance received has been acknowledged and all sources have been stated.Signature: Date: November 15, 2013 | Scenario:In order to facilitate the interactive teaching technique due to accepting the basic findings of Interactive Business Situations Analysis conducted during the seminars and independent students’ study, the following two alternative scenario have been proposed for designing the required Assignment # 1 as follows:Scenario # 1:Primary terms of Business start-up to be organized as “Skull-Up” company are determined as Business partnership with full liabilities legal form. Business specialization of considering enterprise is Restaurant service providing...
Words: 3175 - Pages: 13
...CONTEXT OF MANAGEMENT AND ORGANIZATIONS IN THE CONTEMPORARY BUSINESS ENVIRONMENT MAKES THE SKILLS OF MANAGEMENT AND LEADERSHIP ESSENTIAL FOR A MANAGER Name Course Instructor Institution Date Assess the View that the Changing Context of Management and Organizations in the Contemporary Business Environment Makes the Skills of Management and Leadership Essential for a Manager Numerous factors can influence organizational progress and performance. Some of the crucial factors include the existing management and leadership skills. The skills in management and leadership are normally reflected by the attitudes, job satisfaction and motivation of individual in the leadership positions. Therefore, the performance of an organization is heavily dependable on the leadership skills. it is important to analyze and study management skills and leadership to understand how they influence other factors in an organization which determines the organizational image, culture, employees and how they can become more effective and efficient. Individuals with leadership roles within an organization need to consider the underlying factors, which can influence their leadership skills. Having proper understanding of the organizational factors will help them influence junior employees positively and direct them towards achievement of the organizational success. Therefore, the organization’s philosophy, natured values, goals and visions forms the foundation for its background. In addition, the management...
Words: 2720 - Pages: 11
...analyzes the phenomenon of increased value communication within theory; form business organizations from a system theoretical perspective in the tradition of Niklas LUHMANN. analysis; Drawing on the theoretical term of observation it shows how a research perspective can be functional developed which opens up the scope for an empirical analysis of communication practices. This analysis; Niklas analysis focuses on the reconstruction of these practices by first understanding how these practices Luhmann; stabilize themselves and second by contrasting different practices to educe an understanding of organization different forms of observation of the relevant phenomenon and of the functions of these forms. studies; George Thus, this approach combines system theoretical epistemology, analytical research strategies, such Spencer-Brown; as form and functional analysis, and qualitative research methods, such as narrative interviews, system theory; participant observation and document analysis. value communication Table of Contents 1. System Theory and Empirical Research: Epistemological Preposition 2. The Context and Research Question of the Case Example 3. The Form of Research Observation 3.1 Organizations in the society as a "society of presences" 3.2 Values 3.3 Analytical strategy and the application of methods 4. Analyzing Value Communication: Forms and Functions 4.1 The uncertainty of heterogeneous...
Words: 9617 - Pages: 39
...Business issues and the contexts of human resources Student’s name: University’s name: Author’s note: Executive summary Business issues have been one of the major contexts of HR. This has contributed effectively on organizational development. The major focus of the researcher in this topic will be to assess key features on performance appraisals and other areas of business. The researcher has studied major forces that shape the HR agenda. In order, with Harvard and Ulrich model, the researcher has studied organizational effectiveness on business ethics and accountability positions. Moreover, the researcher has studied core aspects of organizational and HR strategy on business environment and planning attributes. Thus, through SWOT analysis, the researcher has initiated vertical and horizontal aspects of business planning and strategies on major policies and plans. Table of Contents Introduction 4 Identification and analysis of the major forces shaping the HR agenda in the organization (AC 3.1) 4 Examination of HR roles within the organization that contributes to organizational effectiveness, business ethics and accountability (AC 3.2, 3.3, 3.4) 5 Flow of human resource 7 Reward systems 7 Employee influence 7 Work systems 7 HR contribution to design and implementation of organization’s business and HR strategies in describing the techniques and tools required to analyze the business environment on planning purpose (AC 4.1, 4.2, 5.2) 9 Management capability...
Words: 3775 - Pages: 16
...plans are of utmost importance, because these are the factors of the manager’s job analysis which will determine the intricacies and interest of the incumbent’s training. A manager’s job description will vary according to organization, culture and political boundaries, however, managers must posses the qualities of human, conceptual and technical skills in respect of the job description for effective management in changing times. Recommendations to address the development of manager’s human, conceptual and technical skills can be considered as follows. Management training may take place on the job “informally” or off the job “formally”, however, most management training takes place off the job states Stephen P. Robbins’s Essential of Organizational Behavior eighth edition. Informal training on the job tends to disrupt productivity and services so off the job training is advised. Off the job training is considered formal as they are structured and planned to facilitate the job description. As for the manager’s training in particular, formal settings, such as classroom lectures at the tertiary level or the organization’s own training institution providing coaching by outsourced professionals or the company’s own executives, seminars, workshops and meetings of company’s executives fostering networking and management development are recommended. Whatever the setting are the methodologies applied therein are conceptually the same as they are essentially structured to improve skills...
Words: 1396 - Pages: 6
...The purpose of this paper is to explore organizational communication, the effectiveness of organizational communication. This paper will explore different forms of communication in an organization. The Harford is an exceptional company celebrated for financial performance, character, and customer value. The Hartford is an automobile, home, and renter’s insurance company. They service many customers over forty-nine states. The Hartford has been around for two hundred years, Abraham Lincoln was one of The Hartford’s first customers. They have many different lines of business: agency where they help agents deal with their insureds. There is the consumer direct line of business that deals with customers who are forty-nine and younger. There is the AARP line of business that helps and service customer who are forty-nine and a half and older just to name a few. When analyzing organizational communication you must first know and understand what communication is. Communication is a way of getting a message across from one person to another. Through communication individuals can share feelings, emotions, thoughts, ideas, even policies and procedures. Communication plays a dynamic part in the way and organization runs. Organizations have to communicate in order to carry out their daily activities and to make the business run as smoothly as possible. There are different ways to communicate in an organization there is superior-subordinate, peer relationships and internal-external...
Words: 1604 - Pages: 7
...EXECUTIVE SUMMARY Driven by the need for organizational change, management accounting techniques have developed and proliferated at an unprecedented rate in the last few decades. Some critics, however, have charged that the changes are a "reinvention of the wheel" every few years. To put these issues in perspective, let's look at a framework created to illustrate the distinctive nature of these techniques in an organizational change context. The framework considers such factors as user resistance and organizational culture that can influence the applicability and implementation success of the techniques. After tracing the history of management accounting beginning in 1850, accounting scholar Robert S. Kaplan comments, "Despite considerable change in the nature of organizations and the dimensions of competition during the past 60 years, there has been little innovation in the design and implementation of cost accounting and management control systems." (1) All the practices employed by companies and described in management accounting textbooks had apparently been developed by 1925, despite major changes in the nature and operations of organizations. To develop the field of managerial accounting, Kaplan and others encouraged academics to conduct field research and case studies "to describe and document the innovative practices that seem to work for successful companies." (2) The pendulum swung in the other direction over the next decade as a plethora of new "techniques" in...
Words: 3080 - Pages: 13
...employees. Materials The Role of the Entrepreneur 2. How do managers help the company’s stakeholders? A. Assisting customers with their purchases B. Assembling materials into finished products C. Providing financing to grow the business D. Creating profitable goods and services Correct : Managers are employees hired by business owners to “use their resources to create profitable goods and services” (Jones, 2007, p. 74). Materials The Role of Management The Agency Problem: The Separation of Ownership from Control 3. What is a difference between an employee and a manager? A. Employees are responsible for providing vision and leadership B. Employees hold each other accountable for success of the business C. Employees have decision making authority over the organization’s resources D. Employees perform the many jobs to make, facilitate, and sell a product Correct : Employees perform “the many jobs necessary to make and sell a product” (Jones, 2007, p. 82).The main difference between managers and employees is that employees provide direct work for the business, rather than the leadership and oversight of resources. Materials The Role of the Employee 4. Jones (2007) describes a three-stage business plan used by managers. Which of the following is one of the stages? A. Assembling raw materials into finished products B. Calling...
Words: 2220 - Pages: 9
...Organizational Development a for Developmental disabilities school Tina Towndrow BUS 370 Organizational Development Instructor Jerry Spight May 22, 2014 Organizational Development for Developmental disabilities school Starting a nonprofit human services organization in the form of a daycare/learning facility is never an easy task. Difficulties range from funding, experience, cultural acceptance, even parental acceptance. In this paper I plan to discuss my business plan and the difficulties that I face with starting it. I also plan to discuss diagnostic skills to identify OD issues, problems, and opportunities. This paper will also touch on organizational situations that require professional assistance, and I will diagnose a few system issues and I will discuss appropriate interventions. My future business plan involves different aspects of the learning process. My best friend Rachael has a master degree in early childhood education as well as specific training in developmental disabilities in children. I have almost ten years of experience working with adults with developmental disabilities and almost finished with my degree in Business Administration and a minor in Human resources. Our business plan is to create a learning environment for children from age 2 to 5 with developmental disabilities. This is just the beginning because eventually we would like to expand and create a school specifically for all children with developmental disabilities. A brief...
Words: 2955 - Pages: 12
...several sections. Table 15-1 Elements of Organizational Structure 15.2 What are the major elements of an organizational structure? WORK SPECIALIZATION. Work specialization is the way in which tasks in an organization are divided into separate jobs. In some organizations, this categorization is referred to as a company’s division of labor. How many tasks does any one employee perform? To some degree, work specialization is a never-ending trade-off among productivity, flexibility, and worker motivation. Take an assembly line worker at Ford as an example. Henry Ford was perhaps the earliest (and clearly most well-known) believer in high degrees of work specialization. He divided tasks among his manufacturing employees to such a degree that each employee might only perform one single task, over and over again, all day long. Having only one task to perform allowed those employees to be extremely productive at doing that one thing. It also meant that training new workers was much easier when replacements were needed. However, there are trade-offs when organizations make jobs highly specialized. Highly specialized jobs can cause organizations to lose the ability associated with employees who can be flexible in what they do. By spending all their time performing specialized tasks well, employees fail to update or practice other skills. Accounting majors, for example, might specialize in taxes or auditing. Some larger companies might hire these graduates for their ability to do...
Words: 5802 - Pages: 24
