Premium Essay

3 Forms of Business Organizations

In:

Submitted By gdot80
Words 802
Pages 4
Grade Received - "A"

What are the three forms of a business organization?
What are the advantages and disadvantages of each form?
For a corporation, what is the overall goal of the financial manager?
Do you agree with this goal?
Why or why not?

In this discussion I will attempt to discuss what the three forms of business organizations are and discuss what the advantages and disadvantages are for each form. I will then explain what the overall goal of a financial manager is when it comes to a Corporation and if I agree with these goals. Depending on the types of classes that have been taken or if you are a business owner yourself, some of these questions should be somewhat common knowledge. Reading from the text book, there are three legal categories when it comes to a form of business. The three legal categories are partnership, corporations and proprietorships. Most businesses that are started our sole proprietorships. They are owned and operated by one person. Partnerships are owned and operated by two or more people and corporations are legal entities that exist independent of owners (Brooks, 2010). Proprietorships have many advantages. One is that it is easy and inexpensive to form and dissolve. For less than $100 you can get yourself a business license and be a new business owner and if you decide the next day you want to shut the business down, it is well within your power to do so. All of the profits also go to the owner and have direct control of the business. When it comes to government regulations, proprietorship has more freedom to these regulations than corporations with no special taxation. With the advantages with sole proprietorship come disadvantages. First and foremost, it is hard to raise capital because banks are very wary to loan money to sole proprietorships. There is also unlimited liability and potential loss. Many small

Similar Documents

Premium Essay

You Decide

...NON TAXES Part 1 There are different forms of organization available to Penelope, Mark and John depending upon there scale of business. Some of these are 1. Line Organization 2. Functional Organization 3. Line and Staff Organization 4. Committee Organization Line organization is suitable if business is small here labor management policies are easy to solved and the employees are in direct contact with there immediate supervisor Functional organization in this form of organization whole task is divided into specialized functions each function is supervised by the expert this is suited for medium or large structure organization Line and Staff Organization this type of organization is suited for large investment here mass production is done through specialized people Committee Organization Committee organization is widely used for the purpose of discharging advisory functions of the management. Part II Will recommend to Penelope, Mark and John to form a line in the organization, the reason is that although they had a 20 year+ experience of working in different firms but there experience only relates to there specialized area and to run a business you need to look at lots of things For example Regulations, paper work, fee and fines for incorporation, lawsuits etc. and they doesn’t have any experience in that field and if they had it will be limited. Part III The United States has one of the most repressive business taxation scheme in the world it is not...

Words: 723 - Pages: 3

Free Essay

Guest Lecture

...MANAGEMENT FALL 2013 TR 11:00 am - 12:15 pm Room 108 BSA INSTRUCTOR: | Dr. Catherine M. Bakes | OFFICE: | A-405 BSA | OFFICE HOURS: | Mon 2:15-4:45 pm, Wed 1:15-3:45 pm, and by appointment | OFFICE PHONE: | (330) 6721162 | E-MAIL: | cbakes@kent.edu | TEXT: | “Information Technology for Management: Advancing Sustainable, Profitable Business Growth,” 9th Edition, by Efraim Turban, Linda Volonino, & Gregory R. Wood, Wiley, 2013. ISBN: 9781118357040 (Softback) 9781118453247 (Binder ready)9781118547861 (E-text) | COURSE DESCRIPTION Information technology has changed how small to medium size businesses, large corporations, banks, government agencies, healthcare institutions, and other organizations operate and succeed in today’s global economy. Organizations can use IT to transform themselves, improve the efficiency and effectiveness of their operations, and achieve a tremendous competitive advantage. This course will examine the issues surrounding the design, application, and effective use of information systems. It will show how critical information systems have become for all organizations and take an in depth look at IT best practices. The course will have a real world orientation and focus on the role of IT in finding practical solutions to business problems. It will provide a comprehensive overview of IT applications, current trends, and cutting edge technologies, as well as timely and insightful perspectives. Course...

Words: 3702 - Pages: 15

Premium Essay

Bus 463 Wk 8 Assignment 2 Operating a Small Business

...2 OPERATING A SMALL BUSINESS To purchase this visit here: http://www.activitymode.com/product/bus-463-wk-8-assignment-2-operating-a-small-business/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS 463 WK 8 ASSIGNMENT 2 OPERATING A SMALL BUSINESS BUS 463 WK 8 Assignment 2 - Operating a Small Business Use the same business idea you used for Assignment 1 to complete this assignment. Write a seven to eight (7-8) page paper in which you: 1. Choose the legal form of organization for the business, and support your choice. 2. Determine the organization structure which is initially needed to get the business operating, including the number of people necessary to get through the first year of operation, their job titles, and short job descriptions. 3. Propose at least three (3) methods to encourage the employees to work together and build an effective brand. 4. Examine at least three (3) ways to satisfy each of the stakeholders in the business including the investors, the employees, the customers, and the community. Activity mode aims to provide quality study notes and tutorials to the students of BUS 463 WK 8 Assignment 2 Operating a Small Business in order to ace their studies. BUS 463 WK 8 ASSIGNMENT 2 OPERATING A SMALL BUSINESS To purchase this visit here: http://www.activitymode.com/product/bus-463-wk-8-assignment-2-operating-a-small-business/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS 463 WK 8 ASSIGNMENT 2 OPERATING A SMALL BUSINESS BUS 463 WK 8 Assignment...

Words: 825 - Pages: 4

Free Essay

The Wonderful Life of Me

...M&IS 44045-001 INFORMATION SYSTEMS MANAGEMENT FALL 2014 TR 11:00 am - 12:15 pm Room 110 BSA INSTRUCTOR: | Dr. Catherine M. Bakes | OFFICE: | A-405 BSA | OFFICE HOURS: | Mon 2:30-5:00 pm, Wed 1:15-3:45 pm, and by appointment | OFFICE PHONE: | (330) 6721162 | E-MAIL: | cbakes@kent.edu | TEXT: | “Essentials of Management Information Systems, 11th Edition,” Ken Laudon & Jane Laudon, Pearson, 2015, ISBN 9780133741315. | COURSE DESCRIPTION Information technology has changed how small to medium size businesses, large corporations, banks, government agencies, healthcare institutions, and other organizations operate and succeed in today’s global economy. Organizations can use IT to transform themselves, improve the efficiency and effectiveness of their operations, and achieve a tremendous competitive advantage. This course will examine the issues surrounding the design, application, and effective use of information systems. It will show how critical information systems have become for all organizations and take an in depth look at IT best practices. The course will have a real world orientation and focus on the role of IT in finding practical solutions to business problems. It will provide a comprehensive overview of IT applications, current trends, and cutting edge technologies, as well as timely and insightful perspectives. Course highlights will include innovative ways that actual enterprises are using IT in...

Words: 3688 - Pages: 15

Premium Essay

The Case of Value Based Communication—Epistemological and Methodological Reflections from a System Theoretical Perspective

...FORUM: QUALITATIVE SOCIAL RESEARCH SOZIALFORSCHUNG Volume 11, No. 3, Art. 17 September 2010 The Case of Value Based Communication—Epistemological and Methodological Reflections from a System Theoretical Perspective Victoria von Groddeck Key words: Abstract: The aim of this paper is to reflect the epistemological and methodological aspects of an communication empirical research study which 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...

Words: 9617 - Pages: 39

Premium Essay

Mgt 521 Week 6

...Files tab to submit your assignment. 2- Read Case Application 1, “Lessons from Lehman Brothers: Will We Ever Learn?” at the end of Ch. 5 of Management. Discuss the scenario with your team. Discuss the second, third, and fifth discussion questions at the end of the case with your team. Answer each question based on your team’s discussion in no more than 350 words per question. Click the Assignment Files tab to submit your assignment. 3-1. As a university student, your institution’s social principles and practices reflect on you, as a stakeholder, in the organization. Therefore, it is your right to question how these practices should be evaluated in relation to the social issues that your school is addressing. If your university was paying minimum wage when necessary and applying the minimum legal standards to its employees’ work environment, it would be said to have fulfilled its ________. social obligation social responsibility social responsiveness social expectation Bottom of Form Incorrect : An organization performs certain...

Words: 2347 - Pages: 10

Premium Essay

Bus 463 Week 8 Assignment 2

...ASSIGNMENT 2 OPERATING A SMALL BUSINESS Use the same business idea you used for Assignment 1 to complete this assignment. Write a seven to eight (7-8) page paper in which you: 1. Choose the legal form of organization for the business, and support your choice. 2. Determine the organization structure which is initially needed to get the business operating, including the number of people necessary to get through the first year of operation, their job titles, and short job descriptions. 3. Propose at least three (3) methods to encourage the employees to work together and build an effective brand. 4. Examine at least three (3) ways to satisfy each of the stakeholders in the business including the investors, the employees, the customers, and the community. BUS 463 WEEK 8 ASSIGNMENT 2 OPERATING A SMALL BUSINESS Use the same business idea you used for Assignment 1 to complete this assignment. Write a seven to eight (7-8) page paper in which you: 1. Choose the legal form of organization for the business, and support your choice. 2. Determine the organization structure which is initially needed to get the business operating, including the number of people necessary to get through the first year of operation, their job titles, and short job descriptions. 3. Propose at least three (3) methods to encourage the employees to work together and build an effective brand. 4. Examine at least three (3) ways to satisfy each of the stakeholders in the business including the investors...

Words: 420 - Pages: 2

Premium Essay

Business

...Student Number: Module: Tutor: INVESTGATION BUSINESS ASSIGNMENT INVESTGATION BUSINESS ASSIGNMENT Abstract: Abstract: Table of Contents 1 Assesment outcomes: 4 2 Introduction: 4 3 Aims and Objectives of the project: 5 3.1 TESCO 5 3.2 YO SUSHI 6 Small brief about yo sushi 6 3.3 UICEF 7 Unicef is a charity, work to protect child rights, UNICEF UK established in 1956 and is one of 36 UNICEF National Committees based in industrialized countries. It is a charitable company limited by guarantee and is governed by a Board of Trustees. The Board meets regularly to discuss governance matters, including the charity’s vision, mission and strategic direction. 7 3.4 The Comparison Table 8 4 Report Brief: 9 5 Forms Of Ownerships: 10 5.1 Selection of organization 10 5.2 General Discription: 10 5.3 Historical Changes or Developments Explanation: 10 6 Pros. And Cons. Of Organization Ownership: 10 6.1 Definition of Current Ownership: 10 6.2 Comparison between different forms of Ownerships: 10 6.3 Comparison of Advantages and Disadvatages of curret ownership: 10 6.4 Discussion of Recommended Changes to current form: 10 7 Pros. And Cons. Of Organization Structure: 10 7.1 Definition of Current Structure: 10 7.2 Comparison between different forms of Stuctures: 10 7.3 Advantages and Disadvantages of current Sturcture: 10 7.4 Discussion of Recommended Changes to current form: 10 8 Key Stakeholders identification: 10 ...

Words: 1492 - Pages: 6

Premium Essay

Bus 303 Week 3 Assignment Characteristics for High Performance

...BUS 303 Week 3 Assignment Characteristics for high performance Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders.com/downloads/bus-303-week-3-assignment-characteristics-high-performance/ 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/ ) Compensation Analysis The strategic and tactical value of producing a evaluation system is how it helps a person to design and perform tactics or specific practices that produce trust, competitive advantage, and value and that accumulate power within the organization as well as the customers they transact with. The capacity to produce new, fresh and increasingly valuable offers and practices enables one to invent new actions to avoid threats, fulfill obligations and exploit opportunities to make the strategies effective, strategic and powerful enough to fulfill Tri-Emerald Group’s business ambitions. Without the production of offers such as this it is impossible to think or act autonomously, effectively, strategically or powerfully to design and perform strategies powerful enough to maintain standards in the top 10% of the marketplace. To Download Complete Tutorial Hit Purchase Button BUS 303 Week 3 Assignment Characteristics for high performance Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders...

Words: 3015 - Pages: 13

Free Essay

Social Entrepreneurship

...China By JIN Jinping∗∗ Abstract Is social enterprise a new form of organization, differ from for-profit ones and not-for-profit ones? The article tries to answer this question. The social enterprises seem blur the boundary between for-profit and not-for-profit in the objects, while they don’t break though the distinction between for-profit organization and not-for-profit organization, and the rules applied respectively. However the social enterprises can enjoy some special treatment, not base on the form of organization, but on the social benefit of their mission. We should deal with social enterprises and pure business enterprises differently, and shouldn’t ask the later to offer what they needn’t. Key words: Social Enterprises; Corporate Social Responsibility; Community Interest Company; the Triple Bottom Line PartⅠ. Introduction While “corporate social responsibility” is broadly concerned by the public, a new term “Social Enterprise” has been introduced and is gaining its popularity. There are quite a few incubators for social enterprises in practice, and some foundations have put ∗∗ Jin Jinping, Lecture in Peking University Law School. Email: jinjinping@yahoo.com.cn. 1 social enterprises at their priority list of their grantee.1 The term “Social Enterprise” is first used in a report of Organization for European Economic Co-operation,(OEEC) in 1994, indicating the organization aiming to provide job opportunities for low-skilled workers and...

Words: 4245 - Pages: 17

Premium Essay

Essay1

...SEP Exchange Places Allocation Grading System Strategic Objectives * In line with the School mission and vision, the overall allocation of places at Universities for Exchange is modified to recognize Business Students who embody the A.C.E attributes of our School’s Values : Analytical (Rigorous and critical thinking), Caring (Having a heart for those around them, and for global, social causes) and Enterprising (Embrace the spirit of leadership, entrepreneurship, creativity and boldness to step up, and step out) * Encourage holistic development of BBA students beyond academics * Improve the evaluation parameters in the allocation of SEP places to students * Increase transparency in the SEP selection system Operational Objectives * Reduce weightage of the Cumulative Average Point in SEP admissions/allocations * Include co-curricular parameters into the overall consideration for SEP admissions/allocations * Ensure a transparent, meritocratic system of selection/allocation of SEP places to students who demonstrate the values of the School (ACE) Grading Structure Parameter | Max number of points/Weightage (%) | Remarks | Cumulative Average Point (CAP) | 70 | CAP to be re-weighted to 70% (Out of a possible maximum of 70 points, down to 2 decimal places) | Co-curricular Activity (CCA) Involvement | Up to 10 | Applicants will be awarded up to 5 points for each CCA involvement. A maximum of 10 points (2 CCAs) can be counted.Can be NUS based...

Words: 1285 - Pages: 6

Premium Essay

Partnership Form of Organization

...Partnership Form of Organization Partnership Form of Organization A partnership is an association of two or more persons to carry on as co-owners of a business for profit. Partnerships are sometimes used in small retail, service, or manufacturing companies. Also accountants, lawyers, and doctors find it desirable to form partnerships with other professionals in the field. Characteristics of Partnerships STUDY OBJECTIVE 1 Identify the characteristics of the partnership form of business organization. Partnerships are fairly easy to form. People form partnerships simply by a verbal agreement, or more formally, by written agreement. We explain the principal characteristics of partnerships in the following sections. Association of Individuals A partnership is a legal entity. A partnership can own property (land, buildings, equipment), and can sue or be sued. A partnership also is an accounting entity. Thus, the personal assets, liabilities, and transactions of the partners are excluded from the accounting records of the partnership, just as they are in a proprietorship. The net income of a partnership is not taxed as a separate entity. But, a partnership must file an information tax return showing partnership net income and each partner's share of that net income. Each partner's share is taxable at personal tax rates, regardless of the amount of net income each withdraws from the business during the year. Mutual Agency http://edugen.wiley.com/edugen/courses/crs1663/...

Words: 2344 - Pages: 10

Premium Essay

Mgt 488 Entire Course Global Business Strategies

...MGT 488 Entire Course Global Business Strategies https://homeworklance.com/downloads/mgt-488-entire-course-global-business-strategies/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Lancehomework@gmail.com Visit our Site for More Tutorials: ( http://homeworklance.com/ ) MGT 488 Entire Course Global Business Strategies Week One: Strategic Business Continuity and Internal Risk Assessment Details Due Points Objectives 1.1 Identify key firm capabilities. 1.2 Describe the components of sustainable competitive advantage. 1.3 Analyze the influence of the organization on strategic business continuity. Readings Read Ch. 3 of Strategic Management: Competitiveness and Globalization, Concepts and Case. Participation Participate in class discussion. All Days 1 Discussion Questions Respond to three discussion questions. Days 3, 4, 5 3 Weekly Summary Write a 300-350 word summary of how this week’s material relates to you professionally and to organization. Post to Weekly Summary Thread. Day 7 1 Learning Team Instructions Create the Learning Team Charter. Select one of the following Virtual Organizations to use throughout the course for strategic plan development: • Riordan Manufacturing • Huffman Trucking • McBride Financial Services Day 7 Individual Internal Risk Assessment Resource: University Library’s Datamonitor 360 Access the University Library’s Datamonitor 360 and look up...

Words: 29510 - Pages: 119

Premium Essay

Mgt 488 Entire Course Global Business Strategies

...MGT 488 Entire Course Global Business Strategies https://homeworklance.com/downloads/mgt-488-entire-course-global-business-strategies/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Lancehomework@gmail.com Visit our Site for More Tutorials: ( http://homeworklance.com/ ) MGT 488 Entire Course Global Business Strategies Week One: Strategic Business Continuity and Internal Risk Assessment Details Due Points Objectives 1.1 Identify key firm capabilities. 1.2 Describe the components of sustainable competitive advantage. 1.3 Analyze the influence of the organization on strategic business continuity. Readings Read Ch. 3 of Strategic Management: Competitiveness and Globalization, Concepts and Case. Participation Participate in class discussion. All Days 1 Discussion Questions Respond to three discussion questions. Days 3, 4, 5 3 Weekly Summary Write a 300-350 word summary of how this week’s material relates to you professionally and to organization. Post to Weekly Summary Thread. Day 7 1 Learning Team Instructions Create the Learning Team Charter. Select one of the following Virtual Organizations to use throughout the course for strategic plan development: • Riordan Manufacturing • Huffman Trucking • McBride Financial Services Day 7 Individual Internal Risk Assessment Resource: University Library’s Datamonitor 360 Access the University Library’s Datamonitor 360 and look up...

Words: 6810 - Pages: 28

Premium Essay

Fin3400 Chapter1 Homework

...large quantities of their loans 4. This subarea of finance involves methods and techniques to make appropriate decisions about what kinds of securities to own, which firms' securities to buy, and how to be paid back in the form that the investor wishes.  A. real markets B. investments C. financial management D. none of these 5. This subarea of finance looks at firm decisions in acquiring and utilizing cash received from investors or from retained earnings.  A. investments B. financial management C. treasury management D. none of these 7. This subarea of finance helps facilitate the capital flows between investors and companies.  A. investments B. financial management C. treasury management D. financial institutions and markets 10. This is a general term for securities like stocks, bonds, and other assets that represent ownership in a cash flow.  A. investment B. financial asset C. real asset D. financial markets 12. Which of the following managers would NOT use finance?  A. Operational managers B. Marketing managers C. Human resource managers D. All of these would use finance 15. This type of business organization is relatively easy to start, and it is subject to much lighter regulatory and paperwork burden than other business forms.  A. Sole proprietorship...

Words: 3776 - Pages: 16