...Types of Company Ownership: There are three types of company ownerships recognized in this country; they include proprietorship, partnership, and corporation. Depending on an individual’s personal need or ambition, one can successfully establish a business suitable to their preference. Proprietorship: Proprietorship is when an individual has a business that is unincorporated. The U.S Small Business Administration mentioned that there is no differentiation between a business established by an individual and that person. Therefore, the owner is permitted to acquire and retain all profits made by their business, but they are also responsible for the business’ liabilities, losses, and debts (SBA.org). There are three advantages of being in a proprietorship: Ehrhardt and Brigham report, “(1) it is easily and inexpensively formed, (2) it is subject to few government regulations, and (3) its income is not subject to corporate taxation but is taxed as part of the proprietor’s personal income” (Pg. 5-6). Another advantage is that one has complete control over their business; they do not need to consult others for over decisions or any changes that need to be implemented. Even though there are benefits to having proprietorships, there are various limitations. First being the inability or difficulty owners of proprietorships encounter in the area of acquiring capital necessary for the expansion of the business. The second limitation is that “the proprietor has unlimited personal...
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...An example of a Sole Proprietorship business in my town would be The Evans Barber and Salon. Their business is filed a single entity for tax liability purposes. As a company they are not registered with the state as a limited liability corporation or company. Being the owner they do not have to pay income tax separately for they only report income or loses or individual tax returns. Landscapers, housekeepers, and mom/pop stores are also examples of Sole Proprietorship. They also do not have to register with the state. Their income can be reported on their individual tax return, because they work alone. A partnership business example in my town would be the First Steps Daycare of Cuthbert Ga. The only daycare in town. A partnership is the type of business where multiple individuals, called general partners manage the business and are equally liable for its debts. Examples of other partnership are doctor offices, dental offices, and eye doctors. The partners in these offices that manage the business, they are equally liable for the debts incurred with that business. A Limited liability partnership is used by professional associations. The liability on the partner is limited to the amount he or she may have invested in the company. This action keeps each partner from being held accountable for their wrong doings of another partner in their partnership. Examples of limited liability partnerships are Baker Tilly Virchow Krause, Deloitte, and Ernst & Young. The examples listed...
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...Ownership Ownership is having control over a business/organisation and being able to dictate its functioning and operations. These businesses or organisations can be split into two main sectors either the public or the private sector. The public sector consists of non-profitable businesses/organisations such as charities. However, the private sector consists of profitable business/organisations in various forms such as sole traders, partnerships, franchises, private limited and public limited. Types of business in the Public sector Charitable Organisation Charitable organizations are a kind of business that fit within the nonprofit category meaning all profits are re-used in order to re-invest back into the business. In general, this type of entity is sometimes referred to as a charity or foundation, which can be run publicly or privately and has unlimited liability or in other words has full responsibility for the entire amount of debt and other liabilities combined by the organisation. Depending on the location of the charity, the legal definition of what creates a charitable organization may depend on its country of origin. Therefore, the tax which also applies to a charity will also depend upon the region or country in which the charitable organization is based or operates from. Being a business/organisation there are many advantages and disadvantages. The advantages of being a charitable organisation are that there are certain tax exemptions and tax reliefs for taxpayers...
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...Contrasting Business Types by Purpose, Ownership and Stakeholder Impact Introduction For this assignment I have decided to use two separate and contrasting companies both having separate business purposes. The two businesses I have chosen to write about are UNICEF and John Lewis partnership. UNICEF is a non- profitable international organisation whose main purpose is to address the needs of struggling children around the world to ensure that all children can at least get their basic needs that they deserve and have the human right to. UNICEF was created on December the 11th 1946 and was original called the United Nations international children’s emergency fund which then became UNICEF for short. However in 1953 UNICEF changed the name slightly by removing the “international” and the “emergency” nonetheless they still kept the short name the same. Due to UNICEF being the leading charitable organisation for the development of children, they have won awards like the noble peace prize. Due to UNICEF being a charity it is governed by a board of trustees that the company picks. These trustees meet frequently to discuss the direction and the aims of the charity. There is no ownership however there is a president that oversees everything the charity does and creates the aims that the trustees have to try and accomplish. UNICEF is in the tertiary sector as they are providing a service to the people in need and also do not hold any liability. John Lewis partnership is a company which...
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...Unit 1: The business environment Help sheet 1.1.1 P1 Describe the type of business, purpose and ownership of two contrasting businesses To achieve P1, you must complete Task sheet 1.1.1, a case study, as well as Worksheets 1.1.1 to 1.1.4. You must also write a detailed presentation about two organisations. • You must ensure that the two organisations chosen are very different. For example, a large plc, such as Tesco, and a charity, such as Save the Children. This will make it easier to compare the environments. • It is a good idea to choose organisations that you are interested in, but that also have a large amount of information available. Therefore, spend some time researching a few organisations that might be of interest to see which one will make this task the easiest. • The same organisations will be used for tasks other than P1 so look ahead in the assignment to make sure the information you will need is available. • Once you have chosen your organisations, you need to research them in order to be able to identify the type of businesses they are. You must identify which scale they operate at and what sector they operate in. Make sure you give evidence and reasoning to back up your decisions. • The purpose and ownership of a business can often be seen on its website. However, you may find a phone interview very useful for collecting all the information you need. This can then be used as evidence. Remember to reference your work when necessary. ...
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...P1 I will be relating the type of business, purpose and ownership of the two contrasting organisations. The two organisations that I will be choosing are: Oxfam and Sainsbury’s. Sainsbury’s Purpose/aims of Sainsbury’s The purpose of Sainsbury’s is that they are trying to make as much profit as possible, as they are competing with other supermarkets and be the number one UK’s supermarket, and this will allow them to expand on their business. Sainsbury’s have a long term goal to deliver their products and keep their customers happy. One of their objectives is to make life easier for their customers by offering products with good quality and service with a fair price. This also makes the customers happy and makes them want to shop there more. This helps Sainsbury’s to increase their profit rate. The fact that they have a clear, long-term strategy shows that they are informing future developments, and that they are thinking deeply and clearly on how to adapt, develop and grow quickly before they get left behind in the competition with competing against other businesses. Business activity Sainsbury’s is a national company as it has stores throughout the UK, and this shows that they are making profit day in a day out. Improvement within the business Sainsbury’s are doing many things to improve their business of their five values, so that they are improving the business and still staying in the market. By staying committed to their values, they are making their customer’s...
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...1) Describe the type of business, purpose and ownership of two contrasting organizations Sainsbury’s Sainsbury’s is the UK’s most long standing major food retailer, having opened its first shop in 1869. Sainsbury’s brand is built around providing fresh and tasty food for its customers. It differentiates itself from other supermarkets by offering a broad range of products at a great price, a strong ethical approach to business and continuous leadership. The size of Sainsbury’s consists of 504 supermarkets and 309 convenience stores. A large Sainsbury’s produces over 30,000 products. Sainsbury’s is currently in the tertiary and secondary sector, this is because Sainsbury’s provides services (through banks), sell goods and own their own farm. Their purpose is to exceed customer’s expectations for fresh and healthy food, making their lives easier every day. Sainsbury’s ownership is the public limited sector because it sells its goods on the stock exchange. Sainsbury’s key stakeholders are: Customers: They want a company to produce products that meet or exceed their needs, they would like to see improvements Employees: They want the company to provide them a source of revenue; they seek security for employment, promotional opportunities and good rates of reward Suppliers: Want stable instructions and punctual payments. They want to be valued by the company they work for. RSPCA RSPCA stands for Royal Society of Prevention of Cruelty to Animals. The vision of RSPCA is...
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...1) Describe the type of business, purpose and ownership of two contrasting organizations Sainsbury’s Sainsbury’s is the UK’s most long standing major food retailer, having opened its first shop in 1869. Sainsbury’s brand is built around providing fresh and tasty food for its customers. It differentiates itself from other supermarkets by offering a broad range of products at a great price, a strong ethical approach to business and continuous leadership. The size of Sainsbury’s consists of 504 supermarkets and 309 convenience stores. A large Sainsbury’s produces over 30,000 products. Sainsbury’s is currently in the tertiary and secondary sector, this is because Sainsbury’s provides services (through banks), sell goods and own their own farm. Their purpose is to exceed customer’s expectations for fresh and healthy food, making their lives easier every day. Sainsbury’s ownership is the public limited sector because it sells its goods on the stock exchange. Sainsbury’s key stakeholders are: Customers: They want a company to produce products that meet or exceed their needs, they would like to see improvements Employees: They want the company to provide them a source of revenue; they seek security for employment, promotional opportunities and good rates of reward Suppliers: Want stable instructions and punctual payments. They want to be valued by the company they work for. RSPCA RSPCA stands for Royal Society of Prevention of Cruelty to Animals. The vision of RSPCA is...
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...Business purpose and ownership To: The Chief Executives of Nike and Trafford Council From: Tom. Jackson, Management Consultant Date: 21st October As a consultant management you (Nike/Trafford Council) have given me the task of issuing a report about your company and how they are set up. Within this report I shall be reviewing both business set ups. Nike is a Global business as the business is known all over the world with Nike clothing and accessories being sold world wide. In terms of the type of business that Nike operates in they are a Public business as anyone can invest into Nike on the New York stock exchange. Nike belong to the secondary industrial sector as Nike’s largest aspect of their business is manufacturing their goods such as shoe wear and general sports equipment. Trafford Council is a regional business as it only serves the people of the Trafford Metropolitan Borough of Greater Manchester. Trafford Council as a business is not for profit as it serves to fund trafford residents with local needed necessities such as: local schools, parks, street lights etc. Trafford Council belongs to the tertiary sector of business as Trafford Council is a service thus it is within the service sector which goes under the tertiary sector. As a globally recognised organisation Nike’s main business purpose is for profit maximisation, by helping to meet profit maximisation Nike have vast global advertising to help them sell as many Nike accessories as possible...
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...P1 Describe the type of business, purpose and ownership of two contrasting organisations. RSPCA http://www.rspca.org.uk/home http://www.media.rspca.org.uk/media The RSPCA is a charity. The RSPCA (Royal Society for the Prevention of Cruelty to Animals) is an organisation that prevents cruelty to animals. It was founded in a London coffee shop 1824. It was originally called the SPCA (Society for the Prevention of Cruelty to Animals) until in 1837, when Queen Victoria allowed permission for the organisation to add the ‘R’ for the symbol of Royal patronage to be displayed in 1840. The RSPCA is a PLC (Public Limited Company). Two years before the RSPCA was founded, the ‘Martin’s Act’ was created in 1822; this was the first animal welfare law that forbade ‘the cruel and improper treatment of cattle’. In 1835, the ‘Pease’s Act’ was created; this allowed the prohibition of cruelty to cattle to be extended to dogs and other domestic animals. This act also saw that ‘Bear-Baiting’ and ‘Cock-fighting’ were forbidden and also insisted on better standards for slaughter houses. Since being founded the RSPCA has made sure that; laws have been made for lab animals, fur farming in the UK has been abolished and the ban of fox hunting with dogs as well as the Animal Welfare Act. The RSPCA is a founded company that is improving the welfare of animals. ‘It’s our vision to work for a world in which all humans respect and live in harmony with all other members of the animal kingdom.’- RSPCA...
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...Describe the different types of business ownership, linking this to the size and scale of four different organisations Sole Traders A Sole trader is person who owns a business of their own. Being a sole trader is the easiest way to start a business. If you become a sole trader you don't have to pay any registration fees, keeping records and accounts is simple, and you get keep all the profits. Advantages The owner has control of the business Cheap and easy to start up – few forms to fill in and to start trading the sole trader does not need to employ any specialist services, other than setting up a bank account and informing the tax offices. The owner keeps all of the profit The Business affairs are private competitors cannot see what you are earning, so they will know less about how the business works and how it succeeds. Disadvantages Sole traders have unlimited liability which means that if the business goes bankrupt then the debt will be payed off his/her possessions like car , house Sole traders have no one to discuss about their business decisions If the owner is ill or is on holiday then their is no one to takeover and run the business which means that the business will be closed until the owner comes back. Partnerships Partnerships have unlimited liability The registration of a partnership is not compulsory If a partner in the partnership wants to transfer his share then he can only do that with every other partners permission otherwise he can’t. ...
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...variations to narrow your search. The use of Boolear Operations such as the words; “and”, “or” will change the search results. Using the word “and” between each search term will give results that contain all the search terms, where using the word “or” between search terms will give results that contain at least one of the search terms. Focusing your search using limiters such as the document type, methodology, publication type and year are helpful search strategies to use in conjunction with the afore mentioned strategies. Using a variety of search strategies is important to limit your search to make it as efficient and effective as possible. When I first started the basic search I used the words pet ownership, beneficial, and health. The search options I used were to find any of my search terms, publication year 2005-2015, and English. This search generated 572 116 results. There were too many results to determine the relevance of these search results. I then used a basic search again using all the same search parameters as the first search, and typing in the question, “Is pet ownership beneficial to people’s health? If yes, why?” This search resulted in 185 044 results, which was again too many results, but a narrower field. The specific question resulted in a narrower search results, so I used this idea to proceed with a more advanced search. I tried an advanced search using Boolean...
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...Technological University of the Philippines Ayala Blvd., Ermita Manila A Rental Record System for “Petilla Dormitory” Sampaloc, Manila A Case Study in Database Design Partial Fulfillment of the Requirements in Database Lecture Bachelor of Science in Information System Submitted by: FRANCIA, Jan Diether GISALA, Aaron MORALES, Shiela May C. NOARIN, Jenny M. October 2015 Table of Contents Title page ------------------------------------------------------------------------ I I. Overview A. Company Profile ------------------------------------------------------------- 1 B. Sample Forms --------------------------------------------------------------- 2 II. Database Planning A. Mission Statement ----------------------------------------------------------- 3 B. Mission Objectives ----------------------------------------------------------- 3 C. Project Team and Responsibility Assignment ------------------------------ 4 III. Database Boundary A. System Boundary ------------------------------------------------------------ 5 B. Database User --------------------------------------------------------------- 6 C. Data Dictionary -------------------------------------------------------------- 7 IV. Requirements Collection and Analysis A. Database Normalization ---------------------------------------------------- 14 V. System Specification A. System Specification ------------------------------------------------------- 15 VI. Physical...
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...called estates, in real property. The type of estate is generally determined by the language of the 5 deed, lease, bill of sale, will, land and grant through which the estate was acquired. Estates are distinguished by the varying property rights that vest in each, and that determine the duration and transferability of the various estates. A party enjoying an estate is called a "tenant." There are several different ways a party can own an interest in real property. There are possessory types of interests and non-possessory types of interests. This lesson explains the main types of real property ownership. Possessory Interests When we talk about ownership interests in real property, we're actually talking about many different types of ownership. Ownership interests come in various forms and, depending on the type of interest, a landowner's rights may be limited. Let's start by exploring some of the possessory interests possible when owning land. A possessory interest is the intent and right of a party to occupy or exercise control over a particular plot of land. This is the type of ownership most of us think about when we think about land ownership. There are three main types of possessory interests: fee simple absolute, life estate, and leasehold. Let's start with the greatest possible interest in land. Fee Simple Absolute A fee simple absolute is an ownership interest that includes all rights in the land. Just as the name suggests, this type of estate...
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...Learning Outcome 1 - Know the range of different businesses and their ownership Assessment Criteria P1 Describe the type of business, purpose and ownership of two contrasting organisations Activities or scenario: You work as a business liaison officer with a local government council. This is an important role as it is involved with promoting the area as a good place to do business. The council is keen to encourage new businesses to relocate to, or start up in the local area, thus creating more jobs for local people. Your task is to investigate some organisations already operating in the area, to find out about how successful they are and how they operate, so that this information can be used at future planning meetings. Your research should be written up in the form of a well-structured report about them. You are to focus your work on ‘two contrasting organisations’. This task assesses P1 Describe the type of business, purpose and ownership of two contrasting organisations Your task is to investigate some organisations already operating in the area, to find out about how successful they are and how they operate, so that this information can be used at future planning meetings. Task 1 |Introduce the range of different businesses and their ownership. Include a summary of the following; | |Range of different businesses: local;...
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