need more money. Identify potential tort risks that arise in the business context Many organizations contend with tort liability and management in the day-to-day business. The proper management and protective measures to minimize the organizations spotlight tort liability has become a key to efficient operating a business. Employers usually speak to attorneys when dealing with certain issues. The textbook revealed that the three categories of torts are intentional torts‚ unintentional torts and
Premium Tort Risk management Management
101-A November 24‚ 2014 Sole Proprietorship A Sole Proprietorship is a business with one owner who operates the business on his or her own or employ employees. It is the simplest and the most numerous form of business organization in the United States‚ however it is dangerous as the sole proprietor has total and unlimited liability. Self contractor is one example of a sole proprietorship. The advantage of organizing your business as a sole proprietorship is that the process is simple and inexpensive
Premium Corporation Corporate tax Types of companies
FORMS OF INDUSTRIAL ORGANIZATION Forms of Industrial Organization Forms of Industrial Organization Introduction According to McConnell and Brue “Economists group industries into four distinct market structures: pure competition‚ pure monopoly‚ monopolistic competition‚ and oligopoly. These four market models differ in several respects: the number of firms in the industry‚ whether those firms produce a standardized product or try to differentiate their products from those of other firms
Premium Monopoly Perfect competition Competition
Forms of Industrial Organization Team Paper University of Phoenix Have you ever wondered how businesses decide what price to charge for their products‚ or how much output to produce to meet demand? These decisions largely depend on the type of industry in which the business operates. Economists group industries into four distinct market structures: monopolistic competition‚ oligopoly‚ pure competition‚ and pure monopoly. This paper will discuss these four market models. (McConnell-Brue‚
Premium Monopoly Perfect competition Oligopoly
Essay: “what are advantages and disadvantages of ethical behavior in business?” Business Ethics Some commentators‚ such as Milton Friedman‚ believe that the "primary and only responsibility of business is to make money" while abiding by the law. Supporters of this point of view argue that companies’ self-interested pursuit of profit benefits the whole of society. Profitable businesses clearly benefit shareholders‚ but other commentators‚ such as Edward Freeman‚ argue that businesses should also
Premium Ethics Business ethics Morality
1 Forms of Business Organizations and Their Attributes 2 Forms of Business Organizations And Their Attributes Sole Proprietorship A sole proprietorship is the easiest business organization to form because ownership consist of a single individual. The sole proprietor has ultimate control over the focus and direction of the entire business. This feature sets the sole proprietorship apart from all other business organizations. The advantages of a sole proprietorship are that the only paperwork
Premium Corporation Types of companies Legal entities
type of business where there is no legal difference or distinction between the business and its owner. Legally‚ the name of a sole proprietorship is the name of the owner‚ unless a DBA is filed. Advantages include the ease and simplicity of creating a sole proprietorship‚ autonomy‚ and the benefits of financial freedom. Disadvantages are unlimited liability‚ continuity‚ limited resources‚ and raising working capital. * Liability – The liability of a sole proprietorship is a disadvantage for the
Premium Corporation Limited liability company Business law
Comparisons between different forms of government and their respective advantages and disadvantages have been made throughout history‚ and will continue to be relevant. Aristotle famously compared forms of government based on two main criteria: how many people hold power‚ and who’s interests are they serving (Wikipedia‚ 2018). Monarchy in Ancient Greece was a form of government where the king‚ or monarch‚ held absolute power over his subjects. The monarch’s claim to power was based on inheritance
Premium Democracy Ancient Greece Government
Business Ownership There are three different forms of business ownership‚ the Sole Proprietorship‚ the Partnership‚ and the Corporation. Each of these businesses have major advantages and disadvantages. The sole proprietorship is a business which is owned and managed by one individual. Some of its advantages are‚ the ease of formation‚ its management control‚ and its distribution of profits. Some of the disadvantages are‚ its unlimited liability‚ the lack of continuity‚ the capital requirements
Premium Corporation Business law Corporate tax
Week 4 - Chapter 4 Review 1. Your visual receptors have begun to receive‚ translate‚ and transmit the contours of the letters on this exam to your brain. You are therefore engaged in the process of _____. a) selection b) organization c) reading d) sensation x 2. The key functions of sensation and perception are respectively: _____. a) stimulation and transduction b) transmission and coding c) detection and interpretation d) interpretation and transmission 3. When you first put your
Premium Perception Sense Sensory system