Part A The Report Sole Proprietorship This is the most common form of business. The business and the owner are the same. That means all debts and liabilities are the responsibility of the owner. The advantage of this form of business is that it is so easy to start. Basically, you just start selling stuff or providing a service. Of course, if permits or special licenses are needed, you still have to get those. The disadvantage is that you can't bring in a partner because there can only be one
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BUSI - 3004 – 1 Application Week 5 4/03/2013 Head Hunting for Google Google did act in an ethical manner when the company went after the talent of other firms. Going after employees who are already trained and understand the business is key in gaining an advantage over competitors. “Poaching” top talent can backfire if the potential employee being sought after has a contract for a certain length of time or a non-compete clause. This clause makes it difficult for a potential candidate to
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gain a strong foothold in a new market and Sprint would be more able to compete with larger corporations. Together these companies have the potential to grow in a corporate powerhouse. The Next Corporate Powerhouse Introduction The merger of Softbank and Sprint has the potential to launch the partnership into the category of a corporate powerhouse. The merging of these two already large corporations benefits both parties in a variety of ways. This paper will explore exactly how each company
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Business Organization Bobbie Maddox Bus/210 Brian Wirpsa 6/04/2013 A joint-stock company is an association of individuals in a business enterprise with transferable shares of stock, much like a corporation except that stockholders are liable for the debts of the business. A limited liability company is a company in which the shareholders cannot be assessed for debts of the company beyond the sum they still have invested in the company. A partnership is the state or condition of
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Task 1 Part A SOLE PROPRIETORSHIP: • LIABILITY –From a legal point of view there is no distinction between the assets of the business owner and the business itself. Business assets can be used to pay personal debts and personal assets can be used to pay business debts as sole proprietorships are subject to unlimited liability. • INCOME TAXES – All income generated through sole proprietorships is considered ordinary personal income tax to the owner and is subject to the highest
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Sections 224 Appointment and remuneration of auditors 224A Auditor not to be appointed except with the approval of the company by special resolution in certain cases 225 Provisions as to resolutions for appointing or removing auditors 226 Qualifications and Disqualifications 227 Powers and duties of auditors 228 Audit of accounts of branch office of the co. 229 Signature of audit report 230 Reading and inspection of auditor’s report 231 Right of auditor to attend general meeting
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Part A (The Report) Sole Proprietorship A sole proprietorship is the most common form of forming a business in the United States. The individual that forms the sole proprietorship and the business is one in the same. For example, if the business owes creditors money, the individual who created the sole proprietorship business has to pay the bill. When entering into contracts the individual is actually agreeing to the contract since the person and business is one in the same. The biggest advantage
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are more enterprising. Such issues might serve a particular market niche, for example, energy drinks or developing overseas markets. The focus of this strategic management paper is Zest-O Corporation which happens to be under the Beverage Industry in the Philippines. It is a privately owned family corporation. Zest-O is a well known ready to drink juice drink. It is the first ready-to-drink juice in flexible foil pack. The company operates five (5) manufacturing plants scattered across the country
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from those of a partnership? The characteristics of a partnership differ from a sole proprietorship in the following: * Two or more individuals (Dennis-Escoffier & Fortin, 2013). * Can be an individual or any type of entity such as a corporation, an estate, or a trust (Dennis-Escoffier & Fortin, 2013). * Same as sole proprietorship that must pay self employment taxes (Dennis-Escoffier & Fortin, 2013). What are three characteristics of a Limited Liability Company that differs
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1.6 Industry Analysis Porter’s Five Forces: Assessing the Balance of Power in a Business Situation The Porter's Five Forces tool is a simple but powerful tool for understanding where power lies in a business situation. This is useful, because it helps you understand both the strength of your current competitive position, and the strength of a position you're considering moving into. With a clear understanding of where power lies, you can take fair advantage of a situation of strength, improve a
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