[pic] Why Do Businesses Fail? Analyze the reasons and provide a case study of one or more companies that have failed or suffered serious setbacks before they recovered. Name: YAN Hong ID number: 100004456 Tutor: Mrs. Dawn Cremonese It is well known that the financial crisis which started in 2008 is a worldwide recession. Even the Lehman Brothers Holdings‚ which was a global firm with a high reputation‚ went bankrupt on September 15th‚ 2008. Lehman Brothers Holdings failed because it was unable
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Assignment 1 Unit 1: Investigating How Businesses Work In this task I will be writing about Marks & Spencer as it is an international business and is very popular. Ownership Company Profile Marks & Spencer Marks & Spencer is a super market but it also sells clothing‚ home stuff and much more. Marks & Spencer are an international business which has 337 stores in 41 territories overseas. They also have 703 stores in the United Kingdom. They sell products to customers which are satisfactory and what
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In the world today‚ there are businesses everywhere. There are small‚ big‚ unsuccessful‚ and successful businesses. Many business owners planning affect the success of their business. As said “A man can succeed at almost anything for which he has unlimited enthusiasm” (Schwab). Although some people may think the purpose of having a business is to make money and supply jobs to workers‚ it is not. The purpose of a business‚ a successful business‚ is to supply goods and services to customers. In order
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customers/consumers Business Categories 1. For Profit: makes money (most businesses under this category) 2. Not for Profit: Helps others ( most government agencies go under this category) Five Types of Business Ownership 1. Sole proprietorship: A business owned by a single person What is meant by unlimited liability? - Law doesn’t differentiate between the person owning the business and the business. 2. Partnership: A business that is operated by two or more partners who
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different types of small business different types of small business Legal Status The simplest legal forms for small businesses are sole proprietorships and partnerships. Neither is required to be registered with the state and taxes are managed on the owner’s or partners’ personal tax forms. These forms are best when there is little capital property or likelihood of being sued. A corporation is the opposite end of the spectrum‚ requiring registration with state and local authorities‚ separate
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by all profits of his business. This form of taxation is known as pass-through taxation‚ meaning there is no separate federal income tax reporting for the proprietorship. * Longevity/continuity: In the event the sole proprietor dies and planned steps were not properly carried out the business will cease. Sadly the family’s source of income is no longer available. Life insurance is an important need to the proprietor‚ it may be the family’s only source of income. Secondly a will is a must have
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Section 1 – Organisational Purposes of Businesses Identifying the purpose of different variety of legal organisations‚ including corporations‚ governments‚ non-governmental organisations‚ international organisations‚ armed forces‚ charities‚ not-for-profit corporations‚ partnerships‚ cooperatives‚ and universities. A hybrid organisation is a body that operates in both the public sector and the private sector simultaneously‚ fulfilling public duties and developing commercial market activities
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for Small Businesses Cortez (2011) notes “Marketing and advertising is the key to any small business success. This began with direct selling‚ evolved into advertisements with flyers‚ posters‚ then emails‚ websites‚ and now electronic ads on social networking sites. Targeting the appropriate customers is the best way to anticipate and meet the needs of those customers.” According to Dodds (2012‚ p.1) “Social media – blogs‚ Twitter‚ Facebook‚ LinkedIn‚ YouTube‚ and the like – are all ways to connect
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Transportation & Logistics Date of Establishment | 1976 | Revenue | US $ 6.2 Billion | Employees | 90‚000 | Headquarters | Noida‚Uttarpradesh‚India | Management Details | Chairperson - Shiv Nadar CEO - Vineet Nayar | Business Operation | IT ServicesIT Consulting | Position | Of more than 3‚000 technology companies in the Bloomberg database‚ there are only seven with revenue of more than $2.5 billion‚ a market capitalization of more than $5 billion‚ and a compounded annual growth
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Ethical issues in businesses today There are a million ethical issues in today’s businesses and unfortunately there is no perfect decision measurement for all these ethical issues in business. The ethical issues in international businesses are much more complicated and much more delicate‚ along with being tenfold in numbers. According to Wiley (1995)‚ “ethics is concerned with moral obligation‚ responsibility‚ and social justice.” She goes on to say that “ethics reflects the character of the
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