Why do you think colonel Darling chose sole trader as a form of business organization and when and why might his company have become a partnership. Joshua Darling was a retired army colonel‚ who returned after the army to Liverpool‚ where he was born‚ opened a chocolate factory and set up his own business as a sole trader in July 1933. Why colonel Darling chose a sole proprietorship as a form of business organization? First of all‚ a sole proprietorship was suitable for his nature as he could
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you start out in business‚ most often you use your own money to fund the venture. However‚ as you start to grow‚ you may need to find funding elsewhere. When this happens you may want or need to enter into another kind of business model: 2. Partnership – these are made up of two or more people and any profits‚ debts and decisions related to the business are a shared responsibility. These are common for practices that offer services such as accountants‚ dentists‚ doctors‚ solicitors and so on.
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business • classification of business o size – small-medium enterprises make up 98% of all businesses in Australia. (SMEs)‚ large micro: 1-5‚ 82% of non-manufacturing SME’s. small: 1-20 employees‚ sole trader or partnership‚ quick decision making medium: 20-199‚ partnership or private company‚ owner makes decision large: 200+‚ public company‚ complex decision making‚ division of responsibilities among directors o industry classification: primary - includes all those businesses in which
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About ExPress Notes 3 1. Different Legal Systems 7 2. International Organisations 11 3. International Commercial Arbitration 16 4. Contracts for International Sale of Goods 18 5. Agency 24 6. Partnerships 27 7. Company Formation and Financing 30 8. Company Administration 39 9. Company Liquidation 47 10. Fraudulent Behaviour 52 ExPress Notes ACCA F4 (GLO) Corporate and Business Law Page | 3 © 2012 The ExP Group. Individuals may reproduce this material if it is for their own private study
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business gives the business a lot more flexibility about how to operate compare to sole traders. The second major advantage is the low administration requirements compare to form a company. Disadvantages The first major disadvantage is for partnership there are unlimited liability for Andy and Zara. The second major disadvantage is there is no separation between Andy and Zara to manage and control the business. ii) Advantages: The first major advantage is the company has limited liability
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Corporate Level Strategies Kinds of Grand Strategies: * Stability Strategies * Growth Strategies * Retrenchment Strategies * Combination Strategies Stability Strategies The basic approach is ‘maintain present course: steady as it goes.’ In an effective stability strategy‚ companies will concentrate their resources where the company presently has or can rapidly develop a meaningful competitive advantage in the narrowest possible product-market scope consistent with the firm’s
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Chapter 5 Strategies in Action A journey of a thousand miles begins with a single step Copyright 2005 Prentice Hall 中國諺語 Ch 5 -1 Chapter Outline Long-Term Objectives Types of Strategies Integration Strategies Copyright 2005 Prentice Hall Ch 5 -2 Chapter Outline (cont’d) Intensive Strategies Diversification Strategies Defensive Strategies Copyright 2005 Prentice Hall Ch 5 -3 Chapter Outline (cont’d) Michael Porter’s Generic Strategies Means for
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on the domestic corporate market share from 10 per cent to 15 per cent in next 12-24 months. Differentiation Focus: Virgin Blue focuses not only domestic market but also on international market by strategic alliance with The British Airlines ‚partnership with The Air New Zealand and The Middle East Carrier Etihad ‚ code sharing with Emirates. | Cooperative strategies It is used to gain a competitive advantage within an industry by working with other firms. Collusion: The active cooperation
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quality as “Armour” and “Marca Troca” - Ventured into the ready-to-wear business and introduced a polo shirt product line 1973 - Added jeans and printed shirts product lines July 1975 - Considering liquidation of the business III. Statement of the Problem What strategies should Armour Garments Company take in the midst of increased industry competition and fluctuating market demand? IV. Case Facts OPPORTUNITIES Larger potential clients
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1. [LO 1] What are the more common legal entities used for operating a business? How are these entities treated similarly and differently for state law purposes? Answer: Corporations‚ limited liability companies (LLCs)‚ general and limited partnerships‚ and sole proprietorships. These entities differ in terms of the formalities that must be observed to create them‚ the legal rights and responsibilities conferred on them and their owners‚ and the tax rules that determine how they and their owners
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