The role of business in the economy is very important. The economy depends on the taxes received and collected from small and large business to allow the government to function. The country depends on the employment and service provided but business to produce the goods that the country relays on for daily livings. Thus the businesses are able to produce taxable income for the government. A business is an economic system that provides goods and services in an effort to earn a profit. Possibility
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Government, shareholders, Local community and environmentalists. How my selected business affect the aims and objectives of John Lewis Partnership: Customers: They way which customers can affect a business are if the customers are not happy with the businesses products then they will not purchase from that business again. This means that business must have reliable products or they will loose customers. If they loose customers than they will not make any profit. A business must also be
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2.9 Definition and Meaning of Value Creation Value creation is the primary objective of any business entity. It is obvious that most successful organisations understand that the purpose of any business is to create value for its customers, employees, investors as well as its shareholders. Because the customers, employees and investors are linked up together, no sustainable value can be created for one unless for all of them. The first point of focus should be that of creating the value for the
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criticism surrounding the concept of corporate social responsibility. Some people believe that the authentic responsibility of a business is only to its proprietors and shareholders. Others believe that a business should be responsible for all of its activities that effect on the environment and civic. I strongly believe that CSR has become of important concern to the business world and that has been resulted in rising collaboration between governments, businesses and society as an entire world in last
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organized their business as an LLC. Under an LLC, they could deduct more losses than they could as an S corporation because “they increase their basis by their share of the entities debt” (Spilker, 4-19). 4-81 b: Since Tim and Manuel are required to guarantee their firm’s debt, it would be best if they organized their business as an LLC just as they did in the previous answer. Section 1.1367-2(c)(1) states that a shareholder’s tax basis can be increased resulting from loans the shareholder makes to
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WorldCom’s accumulated debts reached $41 billion with assets of $107 billion (Beltran, 2002). WorldCom operated the largest Internet network at the time and employed 60,000 people in 65 countries. The downfall of the colossal giant devastated many shareholders and stakeholders both internal and external. Many believe this collapse inevitable given the factors of the company’s poorly planned growth strategy, unethical behavior, and poor corporate governance. Organizational Structure and Growth Strategy
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A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers.[1] Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning. The etymology of "business"
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INFORMATION/ ACCOUNTING DISCIPLINES 1. The Accounting Profession The accounting profession may be divided into two disciplines, namely private accounting and public accounting. a) Private accounting These are accountants employed by a business firm or a NGO- frequently called management accountants. b) Public accounting This provides services on a fee basis. An accountant may practice as an individual or as a member of a public accounting firm. Public accountants who meet
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based on the public business outrages. The WorldCom and The Enron issues, for instance, gave shareholders self-confidence in entities traded on the open markets throughout ’01 and ’02. Congress was very fast to answer to the political disaster and made the bill of the Sarbanes-Oxley Act of 2002, which eventually the bill was signed into edict by President Bush on July 30 to give self-assurance to shareholders (Carmichael, 2004). SOX quickly changed the way in how public business takes internal controls
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Responsibility Businessmen who believe and talk about CSR as if it is the end all of be all or that it is important in the realm of business are puppets People have responsibilities; not businesses A corporation is an artificial person but a business cannot be said to have responsibilities He separates “responsibility from the word “social – since the business cannot be moral is cannot have moral responsibility Moral responsibility is different than social responsibility as a social contract
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