...Acme Fireworks Analysis When the determination has been made to change a business’s entity it is important to understand what entity would be best suited for their business needs. Acme Fireworks is a sole proprietorship that is growing fast, the owner is considering changing the business entity. The decision that needs to be made is which entity will best suit their advancing needs. Acme Fireworks can choose between three entities: a partnership, corporation, and limited liability company (LLC). There are pros and cons for each of the different entities. When taking into account the current personal liability, if the contracts already in place are valid, employment needs to fulfill the large orders, and defining the different types of entities, my recommendation for Acme Fireworks would be to become a corporation. Just about everyone in the United States has some personal experience with fireworks, either from Fourth of July or New Year's Eve celebrations. Fireworks have always been dangerous and have caused, and continue to cause, serious and tragic accidents. Every year injuries both minor and major are caused by fireworks. Potential personal liability for injuries to consumers caused by the firework products is inevitable. When the firework explodes, it can send out many burning hot embers, or if it is positioned in the wrong place it can set houses or nature on fire. Fireworks can even be a dangerous weapons in the hands of vandals. However, not all mishaps due to fireworks...
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...You are the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. The company started in the owner’s garage two years ago and now has 15 employees that you manage. The company started as a sole proprietorship, and the owner has never changed the entity. The owner has informed you that the company has received inquiries from several large businesses wondering if the company could create several fireworks displays on a regular basis. The owner told the inquirers that the company could fill such display orders, and a price per display was agreed upon. It was discussed that most of the cost for a fireworks display is for skilled labor, insurance, and the actual service of setting off the fireworks. No other details were discussed. The owner is anticipating that new employees will need to be hired, but he is worried that if the large orders for fireworks displays do not continue, the company will not have the funds to pay the new employees. The owner is now considering changing the business entity, but he does not know what entity to form or how to form it. The owner has asked you to do the following: Determine if the contracts with the businesses will be governed by common law or the Uniform Commercial Code (UCC), and explain why. Analyze whether the owner formed a contract with the businesses, and apply the five essential elements of an enforceable contract. Explain the potential personal...
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...CHINESE FIREWORKS INDUSTRY op yo Ruihua Jiang wrote this case under the supervision of Professor Paul W. Beamish solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G 0N1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Copyright © 2011, Richard Ivey School of Business Foundation Version: 2014-11-17 tC In February 2009, Jerry Yu was spending the Chinese New Year holidays in Liuyang (lee-ou-yang), a city known as “the home of firecrackers and fireworks,” located in Hunan Province in China. Jerry was an ABC (America-Born-Chinese). With an MBA, he was running a small family-owned chain of gift stores in Brooklyn, New York. Liuyang was his mother’s hometown. During his visit, his relatives invited him to invest in a fireworks factory that was owned by a village. Mr. Yu had been impressed by the extravagant fireworks shows...
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...The Chinese Fireworks Industry Liuyang, a city in Hunan Province in China, is known as “the home of firecrackers and fireworks”. The fireworks making in Liuyang has a long history and tradition in China, and enjoys a high reputation in the domestic market. It was also the top fireworks exporter in the world, covering 60% of the global production. However, the fireworks market in China faced an intensified competition and several legal restrictions. Jerry Yu, who was running a small family-owned chain of gift stores in New York, was asked to invest in a fireworks factory. He has management experience and global insight with an MBA, but he is challenged to decide whether it is worthwhile to invest in it considering the threats it is facing and the weaknesses of the industry. As far as I am concerned, although the downward trend of fireworks consumption (see Exhibit 1) made the whole firework industry seem like a sunset industry, there are still some opportunities for investing this industry and make profit out of it. PEST Analysis Political Factors In the domestic market, local governments have different regulations regarding fireworks consumption. By 1998, one-third of the cities in China had completely banned the use of firecrackers and fireworks. Another one-third only allowed fireworks in designated places. However, in the mid 2000s, several cities eased restrictions on fireworks. In the meantime, the domestic market still lacks pricing regulation and intellectual property...
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...There are many different classes of fireworks from the ones that you see on the fourth of july to sparklers. Even though these two fireworks are completely different they are very close to the same on a chemical level. The chemistry behind fireworks is a series of oxidation and reduction reactions which result in the desired sound and light. This happens as propellants push the firework into the sky. Oxidation reactions ensure that the oxygen needed to burn the mixture of reducing agents and excite the atoms in the light-emitting compounds is produced. Oxidizers used such as chlorates and nitrates and reducing agents such as carbon and sulfur are available off the shelf for people who make their own. Black powder, which mainly contains nitrates, is the most commonly used oxidizer. A look at an explosion under the use of potassium nitrate to provide nitrate ions (NO3-) after decomposition can be represented as, Potassium nitrate potassium oxide + nitrogen gas + oxygen gas. The reaction is more controlled since when reacting, nitrates only release two in every three oxygen atoms, the reaction is not vigorous since not all the oxygen atoms are actively used up. But the nitrates do not provide enough power to propel the firework into the sky and also ignite the package. So they cannot be used in star explosions since they cannot produce temperatures high enough to energize most color metal salts. Star reactions need a temperature ranging from 1700 to 2000°C. This was found by the...
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...and the explosion of multi-colored sparks brightens up the sky. The lone rocket signals to the crowd; the Independence Day celebration fireworks show has began. More rockets are propelled into the sky in different combinations; two, three, five rockets fired into the air, each vary in size, shape, and color. The crowd “oohs” and “ahhs” with the beauty of the fireworks. A brief pause silences the crowd again. Thuds ring out from the motors again, to many to count, and the sky is as bright as day, as the countless explosions fill the vision entirely. The grand finale signals the end of the yearly celebration of a tradition that has been passed on since 1777. While many countries still argue over the origin of fireworks, most seem to agree, it was a happy accident by a Chinese cook over 2000 years ago, which brought the world such a beautiful and dangerous technology to the world. Fireworks can be dangerous, and in many countries their use is prohibited, however, production of fireworks as an industry has generated millions of dollars, changed the face of military as the world knew it, and has brought an exciting outlet for fun and celebration. The true origins of fireworks may never be determined. It has been discussed that a Chinese alchemist, not a cook, discovered fireworks, while others state it was in India that fireworks were invented. Regardless,...
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...DISADVANTAGES OF FIREWORKS ON HEALTH AND ENVIRONMENT Name of Group Member 1. Nur Izzati binti Abdul Latif 153692 2. Nurhalida binti Abdul Rasid 154082 3. Aifa Syazwani bt Awang Damit 150415 4. Sarah Atiqah bt Abdul Rahim 155656 Group Number: 09 Name of Lecturer: Asiah binti Mohd Shafiee Course: Allied Health Science Semester: 1 PROJECT PLANNING OBJECTIVES. 1. To analyze the function of every substance in the fireworks. 2. To study the properties of substance that cause damage towards health and environment. 3. To find the solution on how to reduce the damage of fireworks. 4. To investigate the rate of damage that cause by fireworks to health and environment. DIVISION OF WORKS. Name Tasks | Nur Izzati bt Abdul Latif. | Nurhalida bt Abdul Rashid | Aifa Syazwani bt Awang Damit | Sarah Atiqah bt Abdul Rahim. | Objectives | | | * | | Division of work | * | | | | Timeline | | * | | | Introduction | * | | | | Discussion of Issues | * * History of fireworks. * Development of fireworks. | * * Properties of fireworks. | * * The type of fireworks. | * * How do fireworks work. | Analysis of Issues | | * * Disadvantages of firework on environment...
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...you to invest in a village-owned fireworks factory. Before you compose your reply, please consider reading the analysis and recommended course of action discussed in this report. The recommended action plan will have a high chance of success because you and the factory employees have shared values and because a great dream should be born - through effort and through fire. I. INTRODUCTION Before making specific strategic recommendations for you or your company, it is necessary to frame such advice by explaining the benefits of an industry structural analysis. An analysis of the overall industry will discuss the characteristics of consumer markets. Then, using Michael Porter’s ‘five forces’ framework, plus consideration for complementors; this analysis will discuss the primary factors in the external environment that can affect a Chinese fireworks business. This report will conclude with a proposed action plan and summary of findings. II. INDUSTRY STRUCTURAL ANALYSIS There are varying countries that may be analyzed here, for example, the fireworks industry in the factory’s domestic market, your own home country, as well as the fireworks industry in significant markets around the globe. In regards to the third sphere of reference, the report looks closest at countries with the following characteristics: having an historically low level of imports of fireworks from China, having a large population, having few laws against the use of fireworks, and having a mature or developing...
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...Management Case Study Analysis The Chinese Fireworks Industry MBA-E, Batch 59 Submitted By: Bilal Waheed (13059021010) Ahmed Burhan Khan (13059021008) Case Outline: The case involves a detailed industrial analysis of the Chinese Fireworks industry. The Chinese fireworks industry flourished the late 1970s and grew to make up 90% of the world's fireworks export sales. However, starting from the mid 1990s, safety concerns led Governments in China as well as abroad, to set up stringent regulations. At the same time, there was rapid growth in the number of small family run fireworks workshops, whose relentless price cutting drove down profit margins. Now, in this case, Jerry Yu who is an American born Chinese, wants to determine whether he should consider investing in Liuyang fireworks factory or not. Liuyang is known as “the home of fireworks and firecrackers” and good at making varieties of fireworks and firecrackers. To gauge the attractiveness of industry, he made an evaluation of the Chinese firework industry by studying and analyzing following factors; History * Product * Identified issues * Industrial circumstances * Domestic and Export Market * Predicted Future of industry ------------------------------------------------- The Strategic Decision Making: Q.1- PEST Analysis of the Chinese Fireworks Industry? Followings are the facts observed through performing PEST Analysis of the Chinese Fireworks Industry in the given case; Political...
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...Firework Proposal Julia Villalba BUS311: Business Law I (BBL1519B) Instructor: Anthony Patete May 25, 2015 I am an employee at Acme Fireworks, which was started two years ago in the owner’s garage. Since then its business has expanded. I am the manager of 15 employees. We sell fireworks and we also do aerial or ground firework displays. I will be discussing the Acme Fireworks Company, pros and cons, and the owner’s choice to change entity of dealing with fireworks. I. Acme Fireworks Company A. Visit and evaluate fireworks companies * Contracts * Inquiries from several large businesses B. Visit and evaluate fireworks websites * Look for different reasons for use * Note important statistics * Death ratio, how many deaths were due to fireworks? * The cost of protection such as, insurance in case of damages II. Pros and cons A. Write pros of this activity * Children * Adults celebrating an event B. Write cons for non-use of this activity * Volunteer workers that are not experience * Preparing the sites around the public III. The owner’s choice to change entity A. List reason for change * Pros * Cons B. List problems in work experience * Hiring new partners who claim to be experience * Hiring new employees who claim to be knowledgeable C. Final decision-making * Partnership percentage and sharing money problems * The liabilities to share responsibilities In my conclusion I know how everyone enjoys fireworks as an entertainment...
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...Acme Fireworks Joyce Mathews BUS 111: Business Law Prof: Maria Fiorentino January 19, 2015 Acme Fireworks Acme Fireworks is a company that sells fireworks but our main attractions are ground firework displays and large aerial displays. We have come a long way from working in the owner’s garage to a full facility with 15 employees. My job is to manage the facility and to make sure the owner’s expectations are met. Recently the owner has advised me that he received inquiries from other large corporations wanting us to produce several more firework displays on a regular basis. Without consulting me, the owner agreed on the inquiries and a price was agreed upon. Cost included labor, insurance, and setting off fireworks. Besides hiring new employees, we might run into a problem where if the large orders stop, we might not have the funds to continue to pay extra help. In this paper I will determine which contract the owner and the other business will need. I will also need to determine if the contract is governed under the common law or the Uniform Commercial Code (UCC). Conduct to see if all the five essentials elements are met in the contact. Develop different employee types and relationships while discussing the advantages and disadvantages of each related to Acme Fireworks. Lastly, I will analyze different alternatives related to why Acme Fireworks shouldn’t operate solely. Acme Fireworks is an ever growing company that strives to acuminate every...
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...1. I put peas on this collage because my perfect Romeo and I have to be two peas in a pod. We have to be best friends. We have to fit perfectly together and enjoy each other’s company. 2. I put kids on this collage because my perfect Romeo has to be good with kids. He has to be kind, patient, and gentle. I want a big family so for that reason this is important. 3. I put candy on this collage because my perfect Romeo has to be sweet. He has to be able to cheer me up when I’m sad. He also has to treat me right. 4. I put fireworks on this collage because my perfect Romeo has to be like a fire cracker. He has to be spontaneous, surprise me, be fun, and energetic. He can’t be boring. A firework represents this because I never know when he’s going to go off. 5. I put a Holy Bible on this collage because my perfect Romeo has to be holy. He has to love God and attend Church. He also has to instill his Catholic faith into our children. 6. I put a dog on this collage because my perfect Romeo has to be as loyal as a dog. A dog is a man’s best friend and is loyal no matter what. My perfect Romeo has to be completely trustworthy and loyal. 7. I put a six pack on this collage because my perfect Romeo has to be fit. I would hope that my perfect Romeo has a six pack and works out. I hope that he also encourages me to work out with him so that I stay in shape. 8. I put people laughing on this collage because my perfect Romeo has to make...
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...FIREWORK Do you ever feel like a plastic bag Drifting through the wind, wanting to start again? Do you ever feel, feel so paper thin Like a house of cards, one blow from caving in? Do you ever feel already buried deep? Six feet under screams but no one seems to hear a thing Do you know that there's still a chance for you 'Cause there's a spark in you? You just gotta ignite the light and let it shine Just own the night like the 4th of July 'Cause baby, you're a firework Come on, show 'em what you're worth Make 'em go, oh As you shoot across the sky Baby, you're a firework Come on, let your colors burst Make 'em go, oh You're gonna leave 'em falling down You don't have to feel like a waste of space You're original, cannot be replaced If you only knew what the future holds After a hurricane comes a rainbow Maybe you're reason why all the doors are closed [- From :http://www.elyrics.net/read/k/katy-perry-lyrics/firework-lyrics.html -] So you could open one that leads you to the perfect road Like a lightning bolt, your heart will blow And when it's time, you'll know You just gotta ignite the light and let it shine Just own the night like the 4th of July 'Cause baby you're a firework Come on, show 'em what you're worth Make 'em go, oh As you shoot across the sky Baby, you're a firework Come on, let your colors burst Make 'em go, oh You're gonna leave 'em falling down Boom, boom, boom Even brighter than the moon, moon, moon ...
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...Deepavali - The Brightest Festival Diwali, popularly called Deepavali in some parts of India, is a festival which we all long for every year. The preparations for Deepavali start long before the festival date. First, the excitement for us would be the new dresses that are bought to be worn for Deepavali. Since Deepavali is a festival for more than 2 days, we have 2 or 3 new dresses. Apart from this all elders visiting us buy us sweets and dresses also. Jeans, T shirts, Trousers and shirts were all bought for me by my parents. The other major excitement for Deepavali is the bursting of crackers and fireworks. This year we burst lot of crackers. Earlier I used to be afraid of crackers. Now I have got over the fear of bursting crackers. My parents tell me that I have to be very careful while bursting. I followed their advice and there was no fire accident also. Sparklers, Rockets, Ground Chakkars and Flower pots were our favorites besides the Thousand thousand sparks bomb. The third rejoicing aspect of Deepavali is the eating of sweets. We visit relatives and friends with sweets and snacks. They also visit us with sweets and snacks. We seek their blessings on the festival day. Gulab jamun, Laddoos, Halwas and Kaju cakes were my favorites. My grandmother tells me that the victory of Good over Evil is the reason for this celebration. She also says that the festival is to mark the return of Rama to Ayodhya after his defeat of Ravana. Lots of people also start new ventures...
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...Fireworks Firework retailers who and sell and displays fireworks for entertainment purposes. Fireworks have the opportunity to expand his small business that has received inquiries due to several large businesses wanting to place large recurring orders of fireworks. In this outline, we examine the components of the business agreement, type of business structure, and personal liability. Therefore, the business owner needs to reconsider its current business structure to reduce liabilities and to avoid a breach of contract due to financial stress: I recommend restructuring to a limited liability company. Did the owner have an enforceable contract The owner of fireworks was contacted by several large businesses to place large recurring orders of fireworks displays. The owner accepted the offer by verbally stated his business could fill large orders. The terms communicated; most of the cost paid for skilled labor, insurance, and the actual displaying of the fireworks. The price, consideration, was the bargained-for exchange. The agreed upon price per unit of fireworks was the consideration. A verbal contract, according to the Uniform Commercial Code- sales of specially manufactured products is legal as long as it involves merchant. Are the contracts governed by common law or the Uniform Commercial Code (UCC) Contracts involving an agency needs to have an understanding of duty and an offer in the form of compensation or the agent can work voluntarily. Contracts...
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