rich. Democracy, on the other hand, promotes capitalism, which allows economic freedom, which helps political freedom; efficiency, economic growth, and everybody having the opportunity to start the business that he or she desires. Communism and democracy are two different ideologies that have each had a great impact in the world. Communism can be defined as a socioeconomic structure that stands for the establishment of classless, egalitarian
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a global basis. Global companies also maintain strategic focus while pursuing competitive advantage. The marketing mix, value chain, competitive advantage, and focus are universal in their applicability, irrespective of whether a company does business only in the home country or has a presence in many markets around the world. However, in a global industry, companies that fail to pursue global opportunities risk being pushed aside by competitors. A firm’s global marketing strategy (GMS) can
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responsibilities for running the business. Sole proprietors own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts. In the eyes of the law and the public, you are one in the same with the business. Advantages of a Sole Proprietorship: * Easiest and least expensive form of ownership to organize. * Sole proprietors are in complete control, and within the parameters of the law, may make decisions as they
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P4-Identify the rights and responsibilities of the employer and Employees in a selected business organisation Employers and employees have responsibilities to each other, they should also expect their rights to be upheld. These rights and responsibilities relate to areas such as Health and Safety, the provision of Terms and Conditions of Employment, Equal Opportunities and the right to be paid a Minimum Wage. The Health and Safety at Work Acts set out responsibilities and rights for both employees
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corporate entity. Many businesses start out small with one owner. They are known as sole proprietorships, the simplest and most widespread form of business formation in the United States. Certain criteria are used to determine sole proprietorship status. A sole proprietorship: * is owned by a single individual When you are planning to do business with a sole proprietorship, bear in mind that since a single individual owns a sole proprietorship, one person makes all the decisions and does not
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Small-Business Idea Vanessa Singleton ACC/561 May 20, 2013 Aaron Strenkoski Small-Business Idea Due to the government releasing funds to establish small businesses, my vision of owning a spa becomes a reality. Starting a new business is challenging, a potential business owner should develop a well thought out business plan to set their venture into action. As a business owner, I have to take into consideration which of the four forms of business organizations best suit my services. I must
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external environment in Kay Smith’s case and Marty Jose’s case below. Kay Smith’s case Kay Smith is one of your top-performing subordinates. She has shared with you her desire to apply for promotion to a new position just announced in a different division of the company. This will be tough on you since recent budget cuts mean you will be unable to replace anyone who leaves, at least for quite some time. Kay knows this and, in all fairness, has asked your permission before she submits an application
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Consensual Relationship Agreement Case Study Tracy Duckett Dr. Ronnie Jones Bus. 520 Leadership and Organizational Behavior Fall Quarter 2012 Abstract It is not uncommon that an office romance will develop between co-workers; based on the fact that majority of their lifetime is spent at their place of employment. Employers are aware of this possibility and have workplace romance policies to protect themselves and the parties in the relationship. Consensual Relationship Agreements (CRAs)
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people to finance and operate a business. Partnerships, unlike sole proprietorships, are entities legally separate from the partners themselves. In a general partnership, however, profits and losses flow through to the partners’ tax returns. Each general partner has equal responsibility and authority to run the business. Each partner should be involved in day-to-day operations of the business, and should make management decisions. Any partner may represent the business without the knowledge of the
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first decisions that you will have to make as a business owner is to determine how the company should be structured. Therefore, your initial choices would be to decide on what organizational form your business will have. The three types of ownership for a business are sole proprietorship, partnership and corporation. As a Sole Proprietor you are the business owner. You are the only person who owns your business and in total control of the operations of your business. A sole proprietor has
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