FORMS OF BUSINESS ORGANIZATION 1. Sole Proprietorship - is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name. ADVANTAGES: * Capital - Sole proprietor contributes whatever capital needed. The owner receives all profits (subject
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Staff Retention in Non-Profit Organizations: Reducing Turnover by Developing Successful Human Resources Management Strategies Willa Haskins Empire State College Abstract Staff turnover and retention rates are concerns for all employers‚ especially in the current economy (Opportunity‚ 2010). However‚ research and statistics show that the non-profit sector consistently experiences high turnover rates (Mizell‚ 2005). High turnover rates during economic hard times can have a serious detrimental
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Every business has stakeholders involved. A stakeholder is anyone who has a claim in some way to a company’s products‚ operations‚ markets‚ industry‚ and outcomes (Ferrell‚ Fraedrich‚ Ferrell 31). Some stakeholders are more involved than others. Members that are needed for the company to maintain are referred to as primary stakeholders‚ whereas others are called secondary stakeholders. Primary stakeholders can be identified as employees‚ customers‚ investors‚ and shareholders and can also be governments
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A stakeholder is any individual or group who can affect or is affected by the actions‚ decisions‚ policies‚ practices‚ or goals of the organisation (Freeman 1984‚ 25). They have the interests in the activities of an organization and can be divided into internal and external stakeholders. In addition‚ there are different levels of stakeholders: primary and secondary. The level of stakeholders depends on the political‚ economic and social environment. Internal stakeholders are those from within the
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Hamza Aberra Nonprofit Management Topic Proposal Fundraising in nonprofits has always been and remains a problem as it is complicated and touchy subject as is most of the time when dealing with funds. Nonprofits deal with issues surrounding the proper spending of funds in their various departments and venues. Overdependence on one stream of funding is longstanding issue for nonprofits. Whether it is statutory or corporate. The common happening is that the charity is being dependent on one source of
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Steps in Identifying Stakeholders Identifying all of a firm’s stakeholders can be a daunting task. In fact‚ as we will note again shortly‚ a list of stakeholders that is too long actually may reduce the effectiveness of this important tool by overwhelming decision makers with too much information. To simplify the process‚ we suggest that you start by identifying groups that fall into one of four categories: organizational‚ capital market‚ product market‚ and social. Let’s take a closer look at
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Win Some and Lose Some One hour away. Sloan‚ Iowa. Winna Vegas Casino. We like to say it’s a fun way to get away from college life‚ hang out with friends‚ and attempt to add a little extra to the pocket books. Many kids attending Buena Vista University have made at least one trip to the Winna Vegas Casino. This casino is 70 miles from Storm Lake and the age requirement to gain admittance is only eighteen. As an alternative to drinking or the bar scene‚ individuals view gambling as a relaxing and
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THE LAW OF BUSINESS ORGANIZATIONS Chapter 16 – Law of Sole Proprietorship and Partnership * Sole proprietorship – A business where the sole owner is responsible for the management and debts of the business. * Registration/licensing issues; Flexibility * Partnership – Partnership Act (Ontario) defines partnership as a relationship that subsists between two or more persons carrying on business in common with a view to profit. * Differences between partnership and co-ownership
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them to Myths of Nonprofit Marketing Big decision myth: Sometimes the big decision doesn’t require much research and small decisions to do Survey myopia myth: Conducting a comprehensive survey may be prohibitively expensive‚ and‚ in small samples‚ respondents may not always be candid. Sometimes better to test the market with the product. Focus group myth: Thought that groups are rarely representative of the target audience and seldom done in sufficient quantity. Yet‚ nonprofits can use focus groups
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What are the primary internal organization considerations for the development of a strategic plan? Which consideration is the most important? Why? Strategic planning is the process followed by an organization in which it defines its strategies and makes plans for proper allocation of its available resources to achieve its objectives. While developing a strategic plan‚ it is essential to consider the various internal organizational factors in order to help the plan succeed. The internal organizational
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