Sole Proprietor would be limited growth‚ limited financial resources‚ and unlimited liability. The advantage of Sonic as a partnership the partner could have been skilled in inventory control‚ as well having more financial resources‚ longer survival‚ no special taxes. The disadvantages of Sonic as a partnership are conflicts with your partner‚ division of profits‚ difficulty termination‚ and unlimited liability. The advantage of Sonic as a Corporation you will have limited liability‚ the ability
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Chapter 5 – Entrepreneurship Entrepreneurship – strategic thinking and risk-taking behaviour that results in the creation of new opportunities for individuals and/or organizations Entrepreneurs – risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view problems Study Question 1: Entrepeneurs are… Franchise Outlet Small Retail shop (convenience store) Self-employed service business (hair dresser that cuts hair in basement) Innovate
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proprietorships‚ general partnerships‚ C corporations‚ and limited liability companies. Ownership of C corporation is represented by shares of the stock‚ or shareholders‚ it is the most common type of the business‚ where ownership to the shareholders offers a limited liability to all its owners. Limited liability companies are those companies who have the form of the partnership‚ in which all the partners have the right to participate in management and have the limited liability for company debts
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*Identification of the purpose of different types of organisation We have two main types of business organisations. Which are Profit-making organisations and Not-for-profit organisations. In the profit making organisation‚ we have the Sole traders‚ Partnerships and LLPs‚ Companies and The Franchises. While on the Not-for-profit organisation we have the Quangos‚ Voluntary‚ public sector bodies and the charities. *SOLE TRADER- This is a simple business that is easy to set up‚ and which is usually a small
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Assignment Business XI Points to cover in this assignment on the 10 Countries Types on doing Business Cultural orientation Cognitive styles Negociation Value System Business Practice Hong Kong: Doing Business in Hong Kong Business & Trade in Hong Kong Employment in Hong Kong Tax Obligations of Non-Resident Business Operators Mandatory Provident Fund (MPF) System Capital Investment Entrant Scheme Entry Arrangement for Investment (to establish/join in business) in Hong Kong
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Nov. 4‚2012 Please define each of these four forms of business ownership and then respond to the following questions: (1) Sole Proprietorship- A business that is owned and usually managed by one person; it is the most common form. (2) Partnership- A legal form of business with two or more owners. (3) Corporation- Is a legal entity with authority to have liability separate from its owners. (4) Franchisors-Owns the overall rights and trademarks of the company and allows its franchises
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UniFuture 1 – Define the term ”tertiary sector”: o Business activity firms that provide services to consumers and other businesses‚ such as retailing‚ transport‚ insurance‚ banking‚ hotels‚ tourism and telecommunications. 2 – Define the term “partnership”: o A business formed by two or more people to carry on a business together‚ with shared capital investment and‚ usually‚ shared responsibilities. 3 – Examine two arguments in favor of setting up the proposed UniFuture business: o Suyin has experience
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You may participate in the business world in a variety of ways. You can start your own business as a sole proprietor‚ in a partnership‚ or you can start or a buy corporation. There are advantages and disadvantages to each. However‚ there are risks no matter which form you choose. Before you decide which form is for you‚ you need to evaluate all the alternatives carefully. The most basic form of ownership is the sole proprietorship‚ a business own and managed by one person. This kind of business
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owned privately. Tesco is a global business with branches even in China and India. It’s a large business. Business ownership- Partnership‚ Tesco is a partnership because it is a really big business with millions of branches all over the world. Tesco has thousands of partners‚ this is because Tesco needs funds to run the business and buy the products limited liability. Limited liability is when the owner of the business is not responsible for the debts therefore his personal belongings cannot be taken
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(Please tick as applicable) Shri Smt. Kumari M/s Last Name / Surname First Name Middle Name 4 Gender (for Individual applicants only) Male Female (Please tick as applicable) 5 Date of Birth/Incorporation/Agreement/Partnership or Trust Deed/ Formation of Body of individuals or Association of Persons Day Month Year 6 Father’s Name (Only ’Individual’ applicants: Even married women should fill in father’s name only) Last Name / Surname First Name Middle Name 7 Address
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