How A Business Is An Organization Or Economic System

How A Business Is An Organization Or Economic System
Introduction:
A business is an organization or economic system where goods and services are traded for one another or for money. Every business requires some
form of profit and this will mainly be traded through investment.
Entrepreneurship is the process of which starting a business, This is usually a new company offering an innovative product, process or service.
There are four different business sizes which are Micro, Small, Medium and Large Businesses.
A micro Business has up to nine staff members and popular examples of it are Corner shops and Newsagents. Many Business owners like the idea of
starting a micro business because they want to be the boss and they wish to be independent. Many individuals also believe that with hard work and
thorough planning, starting and running their own business will provide a better income which might not be the same for working for another
business/company.
A Small Enterprise has between 10–49 staff members, popular examples of a Small business is a Law firm or a tuition centre.
A large business consists of more than 250 staff members, examples of a large business is a University or a hospital. A large business can generate
more income because It will be open to more people, However it may require a lot of funds to startup and run.
There are five different types of Business ownerships which are Sole trader, Partnership, Limited Company, Public limited company and social
enterprise.
A sole trader is a Business owned by one person,
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Business Intelligence Solutions : An Organization
Business intelligence solutions is a set of tools and techniques that are designed to transform the decision making process of an organization. It uses a
variety of software to analyze an organization raw data. It is built on the existing investments so that the employees can get access to current and
accurate information. IBM is an example of the modern organizations that are offering virtually everything that a business may require in terms of
software, hardware to industry specific applications (IBM, 2014). This chapter will compare and contrast how different organization employ business
intelligent solutions, how the dash boards may help average users , the role it play in a competitive advantage and organizational strategy and more so
how Big data and business intelligence work.
Business Intelligence Solutions
How organizations benefits from business intelligence solutions. Business intelligence solutions are very significant to an enterprise performance and
capabilities at all levels. They help the business to be more efficient, identify new business opportunities and spot areas of cost savings. Timely access
to relevant information has been a hindrance to many business successes. The management is always necessitated to base its decision on the full range
of information available but the business always has a huge amount of data (IBM, 2014). Due to the current escalating competition that is eroding the
business loyal customers, they are required to install

Integrating Sustainable Business Practices to an Organization
In today's world of business the role of leadership team has been to integrate sustainable business practices into the organisations and ethics are key
agenda items (Smart et al., 2010).Businesses can be tempted to make short–term gains by turning a blind eye to ethics that will lead to the loss of
reputation (Barman et al.,2010). Thierry Pilenko said that "It is in the power of the leaders, stakeholders and employees to make sure that the ethics are
the core values in order to maintain good reputation". The ethics and the social responsibility are cooperative and a company that acknowledges the
importance of sustaining the environment and the people involved makes good profit (Drotskie,2014,chap.5,p.92).The businesses that turned blind eye
to ethics have faced the consequences of losing their reputation and remuneration, for example American gas Organisation took unethical decisions that
left them being bankrupt (Drotskie,2014,chap.5,p.92).Makgoba stated that South Africa has ethical dilemmas that results to the level of distrust for the
government.
DESCRIPTION OF ETHICS, VALUES AND SUSTAINABLE BUSINESS
In business world it has become too easy to let small infractions slide by until they become big problems (Templeton,2010).Ethics have become the core
values that guide the managers, stakeholders and employees how to behave in an ethical way and the values promote exemplary behaviour in all
circumstances (Pilenko,p.4,2011).Reputation is a priceless asset that most

Business Ethics : The Fundamental Purposes Of An Organization
The main aim of a business ethics is usually to determine the fundamental purposes of an organization. A company whose goal is to maximize
shareholder returns would be violating fiduciary responsibility if it sacrificed profits to other concerns. Business ethics refers to the set of
contemporary standards that govern the behavior of persons in a business organization. It has both normative and descriptive dimensions. The field is
primarily normative when considered as a corporate practice. The range of concern on business ethical issues focuses on the interaction of
profit–maximizing behavior with non–economic concerns. Ethics are vital when it comes to regulating and details in business that are beyond
government control. Organizations ... Show more content on Helpwriting.net ...
Considering the growth rate of the business, it is clear that Joe does not engage in exorbitance and making unfair profits. The goal is to grow the
business and sufficiently serve the community even after he is no longer in charge of the business. Among the philanthropic acts of the business that
indicate their concern with humanity is helping fund 6 out of 9 treatments for a cancer patient. Christianity encourages acts of compassion and thus in
its practice in alignment with Christian values, Joe's business conforms to their outlined internal standards.
The reason the company has had slow growth is due to the challenges in human resource. Finding and maintaining staff has been a major challenge
especially at a time where most of the working generation despise blue collar jobs. Joe confesses that the staffing process has been an uphill task for
the business which needs employees to facilitate the activities of the business towards attaining its objective. The lack of staff has made the business
experience losses in unmet demands since it could not take part in projects that it could not deliver. Here Joe shows that he is a practitioner and the
turning down of projects worth million because the business is understaffed an ethical act. The business keeps its word and does not promise what it
cannot deliver.
Experience is the best teacher as Joe insinuates when responding to

The Organization, Christian Business Leaders
Our organization, Christian Business Leaders (CBL), welcomes all majors and strives to bring students together under one common purpose: "To foster
a Christ–centered organization that encourages service through Christ and leadership in business." No matter the student 's major, he or she will take
part in a business process, from creating a resume to interviewing for a job to working with executives in the corporate world. We believe that our
Christian values should be incorporated into everything we do, which includes these business processes. Christian Business Leaders has been able to
help students understand how to apply their values in the job search and workplace. Our organization has hosted numerous business speakers, including
high ... Show more content on Helpwriting.net ...
Adrian was a fantastic speaker. He focused on his life story, which included stories about tough times, resulting in part because of a difficult speech
impediment he has to overcome daily. Adrian Peterson 's story was so amazing because he overcame adversity, which instilled values and
characteristics in him that every person should have. More specifically, he reached his goals through faith, motivation, and hard work. He was truly
inspiring, and made a lasting impact on ISU, through an event hosted by Christian Business Leaders.
Another influential speaker was Gil Fonger. Mr. Fonger is a charismatic leader, who spoke to us about his life experiences in business and his faith
journey. Mr. Fonger's event was named "Leading with Values in Today's World." In addition, Christian Business Leaders donated to Marklund, which is
a home for adults and children with profound disabilities. The money we donated helped with Marklund's Children Home. Students walked away from
this event encouraged in their faith and with more knowledge on how they can incorporate that faith into their future careers.
The first meeting that CBL held during the spring semester was entitled, "A New Look on Leadership Through Christ" presented by the President and
Founder of Income Store and Today's Growth Consultant, Ken Courtright, on January 13th. During this event, Ken was able to speak about something
he was never able to speak publicly about: his faith during his career. Ken

The Organizational Culture And Subcultures Within A...
The organizational culture and subcultures within a business determines, to a larger extent, how the business performs and the quality of people that
comprises an organization. Such culture is often initially created on purpose, but takes on life and identity of its own, developing organically and
eventually controls and cultivates people within the organization.
The case of Lincoln Electric Company is an interesting one, starting from the very early beginnings when the company was run by the brothers, the
original founder John Lincoln who decided to concentrate on inventions and R&D side of things, who handed the helm over to his brother, James
Lincoln. The management system and underlying philosophy at Lincoln can be characterized by clarity and commitment. The system was instituted
with clear priority and purpose and the management had confidence and courage to commit to the decisions they made. The order of priority, namely
customers first, employees next and stockholders last, makes any subsequent decision making simple. The values that founded this order of priority, as
well as benefits provided to each of these categories, are based on Christian values, but the empathetic approach that results is most certainly beneficial
to anyone in any of these categories. The caring attitude and evident sincerity that was demonstrated by actual implementations not only convinced all
those concerned that these were not merely slogans and publicity stunts but became beliefs share

Integrated Corporate Reporting : Business Organization
Integrated corporate reporting explains the culture of business organisations to report the performance. The reporting system helps businesses to think
effectively about their plans and, strategy make informed resolutions and manage important. With such consideration, they tend to be safe from
company failure by building an investor and stakeholder trust. Additionally, these helps in improving the future performance of the organisation. For
the reporting to be aired to the public, it has to pass through a team of professionals who evaluate and give the uncertainties on the end report. Business
enterprise comes together and forms a union which will help the diversify the business strategies. For a complete group, it comprises of investors
businesses intelligent personnel and the operators of the company.
The Integrated Corporate Reporting System serves as the fundamental source of relevant information for various interested agencies. Moreover, the
public may also be interested in the information provided by the reporting system. In this case, the citizens like understanding the performance of the
company so that they may understand the best place to purchase shares. Buying and selling of shares at any organisation are crucial activity. Most of
the companies integrate this business methodology as part of the business so that they can boost the rate of income and the capital needed to run the
enterprise. Public funds help the enterprises to venture into more business

Business Model : An Organization
Business Model
student
4/2/2015
A business model explains the basis of how an association creates, distributes, as well as captures financial, communal, along with other shapes of
importances. And also a business model is too implicit as a holistic way towards illumination how firms accomplish commerce .The business model
theory is becoming more and more popular inside IS, supervision and plan literature. It is applied within a lot of fields of investigate, including
equally traditional plan theory as well as in the developing organization of theory on e–business.
On the other hand, the idea is often used separately from hypothesis; meaning model constituents as well as their interrelations are comparatively
obscure. However, ... Show more content on Helpwriting.net ...
The spotlight on business models permits for an improved understanding on how ecological importance is incarcerated, turned into gainful products as
well as services, along with distributes expediency and contentment to users. In actual terms, the psychoanalysis of environmental innovation cases can
hut illumination on whether, and also to what level and how ecological importance's are reproduced in firm's value plans, purchaser segmentation,
make use of many type of resources, relationship patterns as well as the supervision of cost and proceeds streams. Through replacing old industry
practices, original business models too permit firms to redistribute their importance chain as well as produce new kinds of producer–purchaser
relationships, as well as change the consumption society along with use follows. The business model viewpoint is therefore mainly relevant to essential
and universal eco–innovation, counting how business models as well as plan can bring and assist diffuse essential eco–innovation as well as allow
systemic alters and alteration. Additionally, it is significant to understand improved how rule can influence as well as make easy the

Business Organizations Summary
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 * Joint and several liability * Partnership agreement – checklist of
issues * Liability of partner for acts of employees * Rights and duties of partners to one another as set out in the Partnership Act (Ontario) * Dissolution
... Show more content on Helpwriting.net ...
As a general rule, in any transaction with the corporation, a director must disclose his or her interest in a particular contract and refrain from
discussing or voting on the matter at the directors' meeting. Shareholder approval of contracts in which a director has an interest may be required. A
director must disclose a conflict of interest. Canadian Aero Service v. O'Malley et al (1973)
* Directors' Liabilities – Numerous heads of director liability under various pieces of legislation: sell shares at a discount contrary to governing
legislation; declare a dividend that impairs the capital of the corporation; environmental liabilities; employees wages in the event of a bankruptcy;
failure to file corporate notices; Fraud charges under the Criminal Code; proceeds of crime and money laundering charges * Directors' Defence of Due
Diligence – Due diligence: the obligation on the directors of a corporation to ensure that effective systems are in place to comply with legislation, and
to monitor legislative systems to ensure compliance. R. v. Bata sets out the criteria for the defence of due diligence.
Ani Abdalyan, B.A. LL.B. LL.M.
Member of the Ontario Bar
Lead Instructor
ALW 380Business Law for Accounting
* Business judgment rule – A court would be reluctant to interfere with the decisions of the board of directors. The rule is limited to circumstances
where the directors can demonstrate they informed themselves of the issue and

Basic Forms Of Business Organization
Three basic forms of business organization are sole proprietorship, partnership, and corporation. Sole proprietorship is the simplest form of
business organization in which there is only one owner (Cheeseman, 2015, p. 570). Single person is responsible for all debts, liabilities, and
obligations, as well as unlimited liability for business operations. If the owner is unsuccessful and acquires debt, creditors can pursue legal action
and acquire access to personal bank accounts, real estate, and other assets by the court order to repay person's debt obligations. Owners of sole
proprietorships cannot raise capital by selling shares that represent stakeholder interest in the business. The owner reports all income and expenses
in personal tax return. The business terminates upon withdrawal or an owner's death. The owner can sell the business and by doing so, will lose the
ownership. Advantages of sole proprietorship include freedom of decisions, tax breaks, ease to start, ownership of all profits, being taxed once as a
personal income of the owner, and lack of government compliance. Disadvantages of sole proprietorship include unlimited liability, very limited
sources of production, and difficulty to raise capital. According to Cheeseman (2015), general partnership is an association of two or more persons to
carry on as co–owners of a business for profit (p. 572). The rights and duties of partners are established in the partnership agreement and by law such
as Uniform

A Report On A Business Organization
group of people or an individual who are in collaboration to achieve given commercial goals is known as a business organisation. Companies may
have information with a purpose or aim of making profits while others start on non–profit making basis. The way the way the business ' organisation
operates depends on the profit or non–profit making basis. However, the basics and the fundamentals of the companies are in one way or the other,
similar since the management functions of the organizations are often similar. This report will focus on a profit–making organisation known as Aldi.
The main points of discussion will lean towards the fundamentals of the organisation; that will cut across the background, financial performance and
the marketing strategies that they have adopted in their quest to attract a huge customer base.
Essential background information
Aldi started in the year 1913 when the first foundation stone was laid to mark the beginning of its building. The business began as a small food store
and outlet in the town of Essen, found in Germany. (Aldi, 2014). The company took just a little time to rise to become a huge and famous shop in
that city. By the year 1940 and beyond, it had grown to a have a bug network of around 300 stores between the Ruhr valley and Aachen. As they
witnessed this tremendous growth in the business, they divide it into two, Aldi Sud and Aldi Nord. Aldi Sud was located in the south while Aldi Nord
was to serve the customers in the Northern

Personal Narrative: My Interest In Non-Profit...
I am interested in working with both non–profit organizations and businesses. While I am open to many different internships, I would thrive in a
mission–driven business or organization. For instance, I'm interested in finance/economics–related internships. Rather than work at a generic bank or
investment firm, however, I'd enjoy working at a small analysis or specialized investment business. I think this is valuable for three reasons: I will have
the opportunity to contribute meaningfully as part of my internship, I will learn much more about diverse aspects of the organization and its area
/industry, and I will be a part of something that does not just help me grow, but also contributes to something important, which is essential to what I
want

Business Organization For Family Farm Operations
Family Farm Operations
Brittany McKenzie
ACCT 511–D02
May 7, 2015
Abstract
As an accountant, I will be selecting the best form of business organization for family farm operations that can offer various problems to professional
attorneys. Family farms with a lot of land space are typically held as a major asset. Furthermore, there are issues that would most likely to occur when
the farm is passed to family heirs, which can take a major toll on the business and estate–planning attorney. In 1988 the Internal Revenue Service (IRS)
classified a limited liability company in Wyoming as a partnership for federal income tax reasons, since then all 50 states and the District of Columbia
have approved statutes permitting the creation of ... Show more content on Helpwriting.net ...
Alex, Bill, Carl, and Devon's father ran the business as a sole proprietorship, but they want to form a business entity to own the farm. I am going to be
their accountant to help run their business the proper way and right way as Christians should. They are trying to avoid a lot of paperwork, but they
also want to allow their cousin Xavier to handle the day–to–day operations of the farm. Additionally, they want to know ways to minimize their taxes
on the entity. They want to keep this a family business; they do not want a stranger owning any part of their business. I think this can be a great thing
if their family is on one accord and want to expand the business. When you start having outsiders, they could come in a try to turn things around within
the business and make a lot of unnecessary changes. With Xavier being their cousin, I think they have a plan that will make the business successful.
As stated above, in this case the form of business organization used by the deceased father is a sole proprietorship. A sole proprietor is someone who
owns an unincorporated business by himself or herself (Sole Proprietorship, 2015). This form of business organization is a business in which one
person is in control of the management and profits. A sole proprietorship has its disadvantages and advantages. With being a sole proprietor, you have
complete control of the management of the business. Everything is left in your

Business Organization And Business Organizations
Business organization is a group of people who are organized for some charitable or profitable purpose. Business entity is a corporate, commercial
or other institution which is formed or administered according to the commercial law so as to engage in business activities which is generally selling
of any product or service. In accounting business organization and owners both are separate or distinct from each other. This means that the personal
transactions of owner are separately treated from business. In legal system there are various forms of business organizations and they are
corporations, cooperatives, sole traders or sole proprietorship, partnership and Limited Liability Company. All vary from each other on the basis of
level of control but follows the same principle of separation.
Business entities are just like individuals and are subject to taxation and are supposed to file a return but there are some entities which are exempt
from federal income tax and they are non–profit charities, Partnership and S corporation.
A restaurant is a place where people feel relaxed and prefer in times of happiness. People generally celebrate their birthdays, anniversary, victory
with others and for that restaurant is the best option because many people can gather their and the waiter will take and serve the order. They will get
well cooked food and don't have to cook by themselves which is a tough job. So I am planning to start a new restaurant where specific types of food
will be

The New Business Structure For Organizations
Leaders know that change is the new business structure for companies to survive and succeed, they must swift away from old habits and adopt new
ways of doing business so that their business thrives. Leaders help people understand that change can be good and needed. This is important because
organizations are experiencing changes due to environmental forces, rapid changing technologies, shift of social attitudes, globalization, increased
government regulations, changing markets, e–business, and the information age. These forces are creating a need for change in all organizations. Many
companies fail to adapt to new changes because people have a natural tendency to resist change, even when it makes sense to change. Many people
question such ... Show more content on Helpwriting.net ...
Leaders need to recognize that change is a process and goes through stages. The change model developed by John Kotter, identifies important key
points to make change. Light a fire for change, in other words, create urgency for change in a way that touches people's emotions. The second stage is
being able to build a coalition and getting the right people on board to support the change. The third stage is having a clear vision and strategy to
inspire people to believe that a better future is possible. The fourth stage involves communication, the fifth stage is to get rid of obstacles and empower
people to act. The sixth stage states that you should celebrate quick wins. The seventh stage is to keep it moving, and last stage is to find ways to
make the change stick and be consistent.
Appreciative Inquiry is a technique for leading change that engages individuals, teams, or the entire organization by reinforcing positive messages and
focusing on learning from success. AI investigates what is right rather than what is wrong. It's important because it gets people away from negative
ideas such as blaming, being defensive and denial. It creates a positive framework for change. Applying it on a large scale–you must include leaders,
employees, people outside the organizations such as customers, partners and other stakeholders. This methodology may involve hundreds of people
over a

Disadvantages And Disadvantages Of Organizations In Travel...
2.Organizations in Travel and Tourism business: When referring to the tourism industry, it is essential to understand its difficulty. There does not
existing an industry with a ordinary structure functioning as an entity. Rather an congregation of multiple diverse industries and factors influencing
each other and usually forming the tourism environment represents it. Thus, Tourism industry is the major sector in which foreign investment is
common. In addition, in Maldives it can be alienated into private and public sector. Travel and tourism organizations operate in a very self–motivated
business environment. Every day new travel companies set up, new holiday products launched and new destinations promoted to visitors. Multinational
companies... Show more content on Helpwriting.net ...
One hundred percent profit preservation allows sole proprietors to use the money at their judgment. You can choose to reinvest the money back
into the business to get bigger the business, start another business or use it for private reasons. 2.1.2Disadvantages of Sole Proprietorships:
2.1.2.1A Sole Proprietor's Personal Assets are His Business Assets The major disadvantage of a sole proprietorship is that there is no severance
between business assets and personal assets. This means that if anyone sues the business for any motive, can take away the business owner's cash,
car, or even his or her home. 2.1.2.2The Business Dies with Its Owner Courts do not see any difference between a sole proprietorship and its owner.
Therefore, the owner passes away, the business ends as well if not the owner made a prudent. 2.1.2.3Sole Proprietorships Have Fewer Ways to Raise
Money Sole proprietorships may borrow money just like other business structures. Yet, because there is no severance between business and personal
assets, many sole proprietors necessitate using their personal assets as guarantee of the loan. Some people even use their home as security. This means
that if the business fails, and the owner does not have sufficient money to pay the loan, the lender can take away the owner's personal assets to get their
money

Business Organization, Vocabulary, Ethics, And Management...
This semester we have focused on four modules which consist of business organization, vocabulary, ethics, and management. In retrospect of all the
content I have learned, the video does make a good point in that humanity needs to be considered and understood when analyzing the entire
management in a business. Businesses thrive off positive work ethic, strong leadership, and efficient management. Without these factors, the business
will lack strong productivity, teamwork, social responsibility, organization, and appeal to the consumer. Starting with strong management in a company
determines a large factor of the prosperity of the business.
A well–organized business is made up of an individual or a group of people working together to reach a certain commercial goal. (Small Business)
One of the first steps in creating a business is finding the type of business best suitable for you. The three most common types of business are sole
proprietorship, corporation, and limited liability company. The most common option for a business is to be a sole proprietor. This type of company
has the least amount of paperwork upkeep. The gains and losses of the company become solely the owner's responsibility. With a sole proprietorship,
you do not have to differentiate yourself from your business instead you file the business taxes with your own. A corporation also separates the
business from its owner therefore it can reduce liability. Double taxation makes this type of business more

Changes in Business Organization
Organizational change is a natural process. Change is inevitable. Change relies with the time, situation, competition and the market environment.
Organizational Change is a process guided by the environment. Organization needs to change its structure as well as the system to meet the goals and
the mission. Basically, Organizational change is in subject to organization structure change, as just opposite of smaller changes just like recruiting a
new employee, modifying and altering an equipments and machineries etc. Organizational structure change can be included a change in vision, mission
and its strategy, restructuring business processes, change in the way of operations, introducing new technologies, company mergers and acquisitions,...
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Communication, on the other hand plays a most precious role while changing the structure of an organization. Organization by law can 't communicate
enough or talk to enough people. Most of the organizational employees are rather satisfied with the status quo. Organization also cannot communicate
too much in portion. Change has measurable goals so that an organization can track and communicate its work in progress towards the set goals and
entire objectives. To successfully implement the change process an organization must have meetings at least once a week or by month including all
concerned organizational members will be impacted by or are driving the process together in the same hall or a room. Change process must be
transparent that every staff members liable to know the progress report. Significant organizational change occurs within an organization when an
organization changes its overall goal, strategy and the way for success, adds or removes a major section or practice, it also occurs when an organization
wants to change the very environment by which it operates. Organizational change also occurs when an organization develops through various life
cycle just like organization must significantly develop through life cycles. For organizations to develop, they often must experience significant change
at various ways in their development. Leaders and managers continually make efforts to accomplish

An Organization Can Improve The Quality Of The Business...
An organisation can help improve the quality of the business information by ensuring that the information is valid as it will be precise. It's dependable
information that is used by organisations to maximise their profits. Many companies need valid info since it helps them to make the best business
decisions; other companies look for this in organisation for instance, if they want to be partnered or work with them then they want to work with
someone with useable information. If the business doesn't have correct information that is valid then they could be put in trouble or even become
unemployed or lose their business as every business should have valid data that is not made–up.
For example, valid information would be something supplied ... Show more content on Helpwriting.net ...
Companies need reliable information that can be used by others to make profit, to become an excellent business; just to make correct decisions so they
can use it to progress quality of business information. If company doesn't have reliable info then it can't be used and it won't help make accurate
judgments. For in case, if they don't have correct information in the business then they can get in trouble and the person can also lose the job as they're
ruining the business reputation which is no benefit to the company. Another example would be the finance section obtaining the information from the
sales sections in a business would be trustable to use as it's an internal source that is checked repeatedly to have consistent information.
Timely & Up to date:
Organisations can improve the quality of their business information by ensuring there data is up–to–date, gathered at the right period of time so it's not
out of date and is stable information that can be used by organisations. This sort of information needs to be updated regularly to keep up with the
constant information so this is available any time when needed. In addition, if the bank needs information from financial section in 2008, they should
be able to provide with the precise information from the exact year. For e.g. if in the business the sales department needs information on the deliveries
in past 3 years then the delivery department needs to supply them with the exact

The Success Of An Organization Or Business Process
Are you tired of smiling and nodding when someone talks about these concepts because you "sort of get what they are but not really?"
You're not alone.
Those of us in the industry who live and breathe this stuff meet people every day who have no idea what we do and why it's important to the success
of an organization or business.
Q. OK, so what is a Business Process?
A. Pretty much everything you do at work.
It's true! Everything is a process, whether you know it or not. It can be formally documented or just live in the experience and know–how of your
employees, but trust us – there are processes all around you.
Think of it this way.
A process can be defined as a series of actions or steps that are undertaken in order to achieve a ... Show more content on Helpwriting.net ...
Grab keys, briefcase, and coat.
When we say "business" process, we are referring to processes that happen every day at work in order to achieve a specific outcome. Do these sound
familiar? What steps do you think apply to each?
Recruitment
Performance evaluations
Customer service
Strategic planning
Approvals
Each of these processes (and dozens of others) happens every single day in most businesses, and if you're lucky, they are smooth and efficient and
wonderful and everything goes well all of the time and all your employees and customers are happy with them.

Q. So Business Process Improvement then, is just making things run more smoothly at work?
A. Yes! It's also about making those improvements with a specific end in mind:
Improving customer satisfaction,
Making employees happier,
Improving efficiency (getting more done, and with less resources)
Saving time, and/or
Improving the bottom line.
When we undertake business process improvement, we do so because something is wrong, and we have noticed a trigger of some sort.
Q.What sort of trigger?
A. It could be so many things. Let's use an example to illustrate.
Let's talk about your car. If you don't own a car, just pretend you do (and since you're pretending, you can make it the car of your dreams while you're
at it. Go ahead and get fancy!)
Driving your car is a process:
Unlock doors.
Sit in driver's seat.
Put key in ignition.
Start car.
Check mirrors.
Place foot on brake.
Put car in gear.
Check mirrors again.

Business Organizations : Business Organization
Business the AAName: Jamal KellyInstitution: Redbridge College Business Organization A business is an organization that undertakes the
exchange of goods or services for monetary gain. An economic system refers to the manner in which a nation or state is organized in the exchange
of goods and services, production and allocation of resources. The economy is made up of three sectors; the private sector, public sector and
voluntary sector. The private sector is made up of private enterprises including the personal sector or the households and the corporate sector or
private companies. The private sector is not state controlled and is run by companies or individuals for profit. Examples of UK–based private
companies include Ineos, Greenergy, European metal recycling, and Arcadia Group. The public sector is the part of the economy that is run by the
government. The sector is mainly concerned with the provision of government services and consists of public companies and corporations. The UK
public sector consists of the different ministries such as the Education, Housing and Healthcare ministries. The voluntary sector or community sector is
made up of nonprofit organizations and charities whose activities are voluntary, social based, non–governmental and nonprofit. Examples of the
nonprofit organizations include the Museums Association, Relief International UK and Social Issues Research Centre. Types of business organizations
Types of business organizations

Business Organizations: Healthcare In The United States
Business Organization Paper
Healthcare has drastically changed over the years in the United States. As our population is growing in size, a shortage of the number of health care
professionals is also growing. Entrepreneurs have greatly benefited the world of health care by assisting with creating more jobs, producing products
and services to assist and meet the growing needs of the population, and starting new business organizations to meet the needs of today's economy.
There are different forms of organizations and choosing the correct one is important, as it will affect the success or failure of the business.
Define the Different Forms of Business Organizations
Sole proprietorships are an individually owned business where the ... Show more content on Helpwriting.net ...
An entrepreneur who is willing to take risks in the process of being aggressive would be willing to even risk personal wealth and property, which
would lead to greater success than entrepreneurs who were not as willing to take such risks.
Conclusion
The main focus behind marketing and healthcare is business growth and financial gain, and the form of business used plays a critical role in the
success or failure of the industry. Through knowledge of the various forms of business and their advantages and disadvantages will lead to the
entrepreneur being able to make an informed choice of which business form will best meet their needs to produce a successful venture.
References
Business Finance. (2011). Types of Business Organizations– Corporations. Retrieved November 19, 2011, from http://www.businessfinance.com
/books/startabusiness/StartABusinessWorkbook012.htm
Naol, M., A. (2011), Forming a Texas business corporation. Retrieved November 19, 2011, from http://www.nacollawfirmblog.com
/business–transactions/forming–a–texas–business–corporation
Pullman, J. (2011). How you structure a new entrepreneurial business matters. Retrieved November 19, 2011, from http://www.streetarticles.com
/entrepreneurialism/how–you–structure–a–new–entrepreneurial–business–matters SCORE

Business Organizations : Business Organization
Business Organizations
Task 1
7/14/15
Business Organization
Essentially, a business organization is a body that is formed for the aim of conducting a commercial enterprise (Bank, 2004, p. 2).
Sole Proprietorship
Brief Description
A sole proprietorship is a form of business structure that is owned and operated by the same owner simultaneously (Schneeman, 2012).
Characteristics
In this type of entity, it is difficult to draw a distinction between the owner and the business.
In the legal language, they are not incorporated and many a times not entirely viewed as a business structure because there are no legal regimes
governing their set up.
The owner is generally vested with absolute control of the enterprise and will be the sole employee.
The business structure is widely used by small investors due to the easy to set up nature.
Advantages
1.Compliance: the creation of sole proprietorship is not dictated by any legal formalities or requirements. There running is also governed by few legal
requirements. In essence, the creation and running of such an entity involves less administrative expense (Schneeman, 2012).
2.Control: the owner of a sole proprietorship has absolute control over the business and the decisions that are made. However, this does not mean that
the owner cannot make any transfer of the sole proprietorship.
3.Tax benefits: unlike in incorporated entities, sole proprietorship are not taxed separately from the owner, they are absolved from

Legal Differences And The Legal Types Of A Business...
Identify and describe the legal categories of a business organization contrasting tax–related advantages and disadvantages. There are three main forms
of business organizations that are commonly known globally; they include; Sole Proprietorship, Partnership as well as Corporation. Looking at the
Sole proprietorship, it is conventionally known as a business run by one person who is also the owner. This means that the owner has 100% control
over the business. This form of business organization is easy to establish since it needs very few legal requirements. There is also no need of having
partners or shareholders and the taxes paid in this business organization is only on the income generated. That means that after paying the taxes, all
remaining profits remains with the owner. Disadvantages of this structure include less share of expertise since the owner is the only partner. The
owner also has unlimited liability for the debts and any malpractices which also includes bearing all maintenance costs (Beyer et al. 2010). For the
partnership, it involves more than one player who is also involved in the business structure. The partners share all costs and profits after entering into an
agreement that intends to share any commercial interests. The partners also contribute funds to start and operate the business as the starting capital.
This means that there is a pool of experience and resources by the two and the partners share the taxes. The disadvantages of this form of

Personal Strategic Plan For A Business Organization
The purpose of this paper would be a personal strategic plan for myself in which visualizes me as a business organization, or as You, Inc. Therefore, to
create a personal strategy one must examine a mission statement, vision statement, and understand the environmental scan to identify external
opportunities and threats; in which, an individual or organization gathers information about the market, society, its competitors, and oneself. Amission
statement defines an individual purpose for achieving certain goals. An individual mission statement should define their primary attributes to
employers, employees, or clients to identify the products and services they have to offer in a particular field. A vision statement is long–term goals that
give an individual the formation that allows them a competitive advantage in an organization or particular market. My personal vision statement is to
seek employment in the manufacturing sector as operations manager in logistics. Once this information is achieved the individual or business can take
the necessary steps to identify signs (Business Dictionary, 2015) of pressure and prospects that may influence their current and future course of action
through tools such as P.E.S.T (Political, Economic, Social and Technological) and through S.W.O.T. (Strength, Weakness, Opportunity, Threat) analysis
(QuickMBA, 2010).
Introduction The purpose of this paper would be a personal strategic plan for myself in which visualizes me as

Information Security in Business Organizations
Security of information in business organizations
Table of contents TOC o "1–3" h z u HYPERLINK "file:///C:UsersAlexandruDownloadsSecurity%20information%20(2).doc" l "_Toc329863215" 1.
Introduction PAGEREF _Toc329863215 h 3 HYPERLINK "file:///C:UsersAlexandruDownloadsSecurity%20information%20(2).doc" l
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PAGEREF _Toc329863219 h 7 HYPERLINK "file:///C:UsersAlexandruDownloadsSecurity%20information%20(2).doc" l "_Toc329863220" 6.
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1. Introduction The business climate of today is extremely complex and challenging, forcing the economic agents to develop and implement a wide
array of strategic efforts that help them overcome the threats. Competition is increasing within both national and international market places; customer
preferences change and the demands of the labor force increase. There is political and

Building A Solid Business Organization
Introduction
Businesses are a make–it or break–it conception. They are delicate and could crumble in the blink of an eye or could thrive and make it very far.
Businesses are all about maintaining a relationship with customers and knowing how and when to network sufficiently. If a company doesn't apply
these techniques strongly to their business, they could end up with nothing very fast. Another idea is a deprecating rumor about a company that can
lead to its downfall. A company is like building a house. If you don't build the house on a solid foundation, then it will not last.
Foundations
Many variables go into building a solid business. When generating a new successful business, a business owner has to generate what his or her
company's ... Show more content on Helpwriting.net ...
Everyone needs a person that they can rely on. Networking can provide a person with a minute group of dependable people. Today, networking has
become one of the most sufficient ways of getting a business's name out there and improving it as a whole. To network effectively, the owner must
always be up to date on the latest communication outlets and always having a business card with them can be vital as well. Social media is a good way
to keep up with others and to let them know how a company is doing and what is being offered. Business cards are dynamic, because it helps others
remember how to get in contact with one another at a later time. ADD QUOTE
Regulations
After a business has grown, the owner is still not finished. The owner must constantly be networking, maintaining the values and purpose, and keeping
relationships with customers, suppliers, and employees. ADD QUOTE
SWOT
Businesses either thrive or they fail. If your business is failing, you need to know why. Analyzing his or her company's strengths, weaknesses,
opportunities, and threats can be one of the biggest pushers to success for a business. A business owner can use the company's strengths to better the
business. Identifying the weaknesses in the company makes it possible for them to be worked on and improved. If a business owner does not keep
an eye out for opportunities, he or she could miss a chance for his or her business to excel. On the flip side, keeping an eye out for threats can protect the

The Legal Concerns Of Modern Business Organization
Modern businesses operate in a much more complex environment than existed with earlier for–profit organizations. One of those complexities is
created by the legal issues surrounding all aspects of operating in today's world. These legal concerns are often significant, and are a major reason
individuals who wish to establish and grow a business must focus on the form of their business organization.
Balancing Different Requirements and Objectives
Whether operating as a one–person bedroom firm or a multi–national business with thousands of employees, there are a host of common issues,
concerns and liabilities to consider. For that very large organization, it is virtually a necessity to operate as a legally chartered corporation of some sort.
... Show more content on Helpwriting.net ...
Sorting Out the Options
Generally speaking, the sole proprietorship is the simplest and least expensive form of business structure. However, it provides no protection of the
owner's personal assets from claims, litigation and financial judgments.
On the other hand, a properly chartered and maintained corporation will in most cases protect owners and shareholders against any such actions or
liabilities lodged against a business. A more detailed discussion of these various options follows.
Sole Proprietorship
If an owner of a business takes no specific legal action to separate the operations under another entity, they operate by default as a sole proprietorship.
This structure has a minimum of forms to file and track, and the profits and losses generated are not separated from the personal income of the owner.
While this form of operation provides no special legal protections for the owners, it does not preclude the development of a separate business identity.
Most small businesses will file a "doing business as" form with the local government. This dba allows the use of a business name as an alter ego in the
marketplace.
Federal income tax reporting allows the owner of a sole proprietorship to include their earnings or losses with the addition of several forms. In most
cases, owners are also liable for filing and paying a self–employment tax. Several special tax–advantaged retirement

Forms Of Business Organization: Helena And Francine
The forms of business organization that Helena and Francine could form are a sole proprietorship, a partnership or a corporation. First, they could
start a sole proprietorship, which is a type of business that one person owns and operates. They could do this type of business if only one of them
plans to operate the business, and only one of them plans to be liable for it. They can also form a partnership, which is a type of business in which
co–owners share the costs and work together to attract customers. As general partners, they would manage the business together and share profits,
debts, and obligations associated with it. If Helena and Francine form a limited partnership, they could bring in other limited partners who help fund the

Business Organization Structure Of A Business
Business Organization Structure
Starting a business is a major step and can in some cases be very risky. Furthermore, there are a number of important factors that should be considered
when starting a business. One of the most fundamental factors involved in starting a business is determining what business entity to operate the
business under. Choosing a business entity that is not aligned with your particular business model can in many cases lead to several problems that can
be potentially very costly. The four most common business entities are a sole proprietorship, partnership, LLC, and acorporation. Knowing which
business entity is best for your new business venture can determine the future success of your company.
Sole Proprietorship ... Show more content on Helpwriting.net ...
As long as you are the only owner, this status automatically comes from your business activities" (Starting & managing (n.d.). However, just like any
other business you would still need to obtain licenses and permits necessary for operating your particular business. Starting a sole proprietorship can
be extremely time consuming as you the owner are responsible for all operations and functions of the business including creating a business plan,
obtaining licenses and permits, hiring, establishing plans for development and growth and much more. Depending on the type of business your
looking to start you may need to obtain patents and trademarks to protect your business. "Sole proprietors need to comply with licensing requirements
in the states in which they 're doing business, as well as local regulations and zoning ordinances. The paperwork and formalities, however, are
substantially less than those of corporations, allowing sole proprietors to open a business quickly and with relative ease – from a bureaucratic
standpoint" (AllBusiness.com, 2007). Personal liability for owners The owner of a sole proprietorship business has unlimited personal liability to the
company and is responsible for all debts and obligations incurred on the business's behalf. "Because there is no legal separation between you and your
business, you can be held personally liable for the

Most Popular Type Of Business Organization
Sole Proprietorship
Description
Simplest and oldest business form to establish
Does not require legal expertise or fees when forming
Most popular type of business organization comprising
Excellent option for business that only have a small number of employees (Stevick, G.E., 2006).
Two Advantages
1.The owner has complete control over the business, and has all decision–making power.
2.Owner retains all profits made by the organization.
Two Disadvantages
1.Unlimited and unshared responsibility means there can be concerns related the payment of debts and legal action being taken against the owner.
2.If the sole proprietor cannot pay his or her business debts or expenditures, he or she is still required to pay for them, as there is no distinction
between personal assets and liabilities and business assets and liabilities.
Liability
Owner has unlimited and unshared responsibility for business
Income taxes
The business owner's personal taxes and business taxes are taxed as a single unit with the business owner only to having to file a 1040 tax form along
with a Schedule C ("Profit or Loss from Business Profession") (Stevick, G.E., 2006).
Continuity of the organization
Expansion of a sole proprietorship can be difficult, as the monetary resources to support such a move come from the owner's personal assets.
Additionally, if the expansion moves into another state, there are additional taxation and compliance regulations to consider.
Control
The owner has

The Organizational Structure Of A Business Organization Essay
One thought is the organizational structure. It appears that the organization is genuinely robotic in its structure. This may not be the most fitting
structure, given the way of the business. Since shoe outlines are changing so quickly, production changes setup are every now and again required.
The organization is required to respond to environmental factors quickly. A more natural structure would permit this to happen. The stream of data
and communication at present being utilized inside of the organization appears to be mixed. Now and again it takes after the recommended
hierarchy of leadership despite the fact that persons in a specific order perform no helpful capacity.An undeniable test confronted by Olsen is to
move far from a framework that has existed for more than 30 years. The workers are as of now content with the way the organization is working
regardless of the fact that it gives a bigger number of constraints and differences than embracing an ERP. The methodology that would draw to their
advantage would be full preparing of the framework, occupation update and improvement with obligations regarding Foremen, the simplicity of holding
data and giving feedback to administration and open doors for development and advancement inside of the association for all workers. Each of these
worker motivators would render better occupation fulfillment for both Lawson and Flynn and would facilitate a percentage of the coordination and
collaboration issues managers and

Business Organization And The Management
Introduction:
Business organization and the management is a complex world on its own. The hierarchies, structure and the roles of each positions of the organization
has its own duties and responsibilities. The theories of Organizational management have enlightened the world with the views and roles that define the
organization system as a whole. It has highlighted the methods and terms of organizing. The business entities and the players are however sufficed with
many moral and ethical problems. The companies face serious problems in regard to the relationship between the players namely the shareholders,
managers and also the stakeholders of the company. The company facing such issue is Gurkha Development bank Nepal. It seemed that... Show more
content on Helpwriting.net ...
It will further analyze various literature perspectives of the two management issues and the implications of the theories application outline the
limitations of the theory and lastly it will illustrate the relationship between the two organizational theories.
Company Profile: Gurkha Development Bank (GDB)
Many Bankers, Engineers, Businessman and other reputed personalities, initially promoted Gurkha Development Bank Limited. It "B" category
licensed Financial Institution by Nepal Rastra Bank (National bank of Nepal) under the Banks and Financial Institution Act. It was established in
2007 as a regional level development bank but now have become a national level development bank after merger with Sidhnayak Merchant Finance
Co. Ltd. The Bank has been offering a large number of tailored deposit and loan products along with remittance and guarantee services. The bank
promises to entail Efficiency and high ethical standards of GDB and the reputation of the company is deeply rooted on quality in service delivery. Its
objective includes Offering excellent client service, innovative products and value–added banking while developing with them a mutually beneficial
association. Its objective also includes creating value for stockholders, which we will look upon as this essay moves forward.
Theory Lenses and Relevance to GDB
First chosen Organizational theory lenses is the Agency theory. The agency theory, from its roots in

Types Of Business Organizations The Cardigans
There are three main types of business organizations the Cardigans can file their home decor business as, one sole proprietorship, two partnerships
and three corporations. Sole proprietorship is the simplest form of business organization. Usually in sole proprietorship one person has complete
control of their business;however, one assumes all liabilities. According to Miller (2013), "The sole proprietor is free to make any decision she or he
wishes concerning the business–including whom to hire, when to take a vacation, and what kind of business to pursue" (Miller, 2013, p. 445). A
major disadvantage of the sole proprietorship concept is that a person has unlimited liability. Since sole proprietorship consist of one person let 's use
Cora... Show more content on Helpwriting.net ...
Cora and Caley will have some disadvantageous if deciding to move into a general partnership because partnerships can have unclear authority and
instability. Findlaw states, "A partnership is dissolved as soon as one of the members ' dies, retires, resigns, files for bankruptcy, or otherwise quits. This
can mean a sudden and unexpected end to a profitable business" ("What Are the Disadvantages of Partnerships?," n.d.). Cora and Caley can act with
third parties on the behalf of the partnership which can hurt or help their business because either can make an unhealthy decision on the behalf of the
home decor business. Findlaw states, The third parties, this means that all partners act on behalf of the partnership, can enter into contracts, and by the
same token, bind the partnership into unwanted agreements" ("What Are the Disadvantages of Partnerships?," n.d.).
A corporation is owned by shareholders and these shareholders elect the members of a board of directors to handle daily business operations.
Shareholders are not held liable for the companies ' debt and legal problems which means a corporation is seen as a separate entity from its
shareholders. According to Marnie Kunz (2015), "Corporations are required to pay state and national taxes, and shareholders must also pay taxes on
their salaries,

Ownership and Structural Forms of Business Organization
Ownership and structural forms of business organization, applicable laws, requirements for their formations, and advantages and disadvantages
Type of Ownership * Single or Sole Proprietorship. It is a form of business organization which is owned by one person. The owner personally manages
his business. Most of businesses in the Philippines (including those which are not registered) belong to single proprietorship. Examples are retailers,
market vendors, barbers, tailors, and so forth.
a) Advantages of Single or Sole Proprietorship
1) It is easy to organize. Financial capital is small, and registration requirements are not difficult to comply with. In fact, in the remote rural areas small
businesses do not even bother to ... Show more content on Helpwriting.net ...
The most common example of partnerships are professional partnerships, like in the case of law firms and accounting firms. Just like a corporation, it is
registered with the Securities and Exchange Commission (SEC).
A partnership, just like a corporation, is a juridical entity, which means that it has a personality distinct and separate from that of its members. A
partnership may be general or limited. In a general partnership, the partners have unlimited liability for the debts and obligation of the partnership,
pretty much like a sole proprietorship. In a limited partnership, one or more general partners have unlimited liability and the limited partners have
liability only up to the amount of their capital contributions. Unlike a corporation, which survives even when a member/stockholder dies or gets out, a
partnership is dissolved upon the death of a partner or whenever a partner bolts out.
d) Applicable Laws
Unlike corporations whose governing law is a special law – the Corporation Code of the Philippines, partnerships in the Philippines are governed by
and covered under Articles 1767 to 1867 of the Civil Code of the Philippines [circa 1950]. These are the provisions of law which govern all aspects of
partnerships – from their creation, formation, existence, operation and management to their dissolution and liquidation, including the obligations of the
partners to one another, to the public or

A Customer Driven Organization Is The Most Important...
A customer driven organization is one that listens to its customers and integrates customers into its business by providing customer focused solutions. It
develops and uses customer feedback systems to keep abreast of their requirements and measure how well the organization is doing in meeting these
requirements. A customer driven firm should continuously analyze its performance data and use that information to improve work processes and
services delivered to customers.
What did A.G. Lafley, ex CEO of P&G, learn from Drucker?
In A.G.'s own words:
Over the years, I learned many things from Peter, but far and away the most important were the simplest:
1The purpose of company is to create a customer.
2A business is defined by the needs, wants, desires a customer satisfies when buying the company's product or service.
3To satisfy the customer is the most important mission and purpose of every business.
Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation.
Marketing and innovation produce results; all the rest are costs.
The customer rather than the manufacturer defines a market
Of course innovation is risky. But so is stepping into the car to drive to the supermarket for a loaf of bread. All economic activity is by definition 'high
risk.' And defending yesterday – that is, not innovating – is far more risky than making tomorrow.
Paraphrasing Drucker and taking a few artistic

Business Organization: Carc Bibs
Business Organization
Our Corporation consists of an Administrative manager, Terry Horn, Marketing/ Sales manager, Jasmine Barajas, Product designing/development
manager, Carolyn Pennywell, Technical Drafting Manager, Alexis Sevillano. We will need an Accountant/ Payroll manger, Human resource manager,
Lawyer/Legal advisor. This team will work together and construct a strong written code of ethics for thecorporation. Although we are a for profit
business, we will do our best to maintain strong ethics, and adhere to the laws that govern local, state, national, and international free trade business.
The advantages of CarC Bibs are, low cost of quality product, economical resources, safer product. The internet will be a major source of international
free trade, through internet advertising and marketing. The use of PayPal, and Merchant account process services, will help get around much of the
difficulties involved with international transporting laws. Our catch phrase, "CarC Baby is a Safe Baby." Babies are our business and we aim to
pamper them with maximum product quality. The board ofmanagement will outline a strategy to identify potential customers beyond parents, such as
daycare centers, and other institutions that would use such products. The design and ... Show more content on Helpwriting.net ...
It is Machine washable and durable. There is customization available, such as monograming names and statements. This product is a safety device, a
bib that protects the fasteners/buckles on the infant and toddler car seat. The needs of our customers with infants and toddlers will benefit from our
unique safety bibs. The growing population of infants and toddlers wearing our CarC bibs making them a household brand name in all major locations,
locally, statewide, nationwide, and international is our goal. To contribute to the well–being of young lives with this unique product is rewarding, and
it will distinguish us from our

Creating a Business Idea and Types of Business Organizations
Small–Business Idea
Recently the United States government has released funds for creating small businesses. An opportunity to acquire government funding for a business
venture is one to take advantage of and to put dreams into reality. The intent of this paper is to outline the three main forms of business organizations
including the tax and legal implications as well as the accounting requirements for each structure. In addition, this paper proposes creating a small
business of a women's only gym while weighing in the advantages and disadvantages of the three types of business organizations which are sole
proprietorship, partnership, and corporation.
To start the process of forming a business there are three main forms of business ... Show more content on Helpwriting.net ...
These four financial statements are considered the backbone of financial accounting and show special significance, but ultimately, each has one
common goal: to show internal and external users where the money is in the company. No matter what form of business organization the small
business is they all need to prepare these four financial statements.
The income statement deals with the revenues and expenses a company incurs for a period of time (Kimmel, Weygandt, & Kieso, 2009). This financial
statement reports the success or failure of the company's operating and non–operating activities. The retained earnings statement shows the amounts
and causes of changes in retained earnings during the period (Kimmel, Weygandt, & Kieso, 2009). This statement brings together the beginning and
ending retained earnings for the period, using information such as net income from the company's other financial statements. A company'sbalance sheet
reports assets and claims to assets at a specific point in time (Kimmel, Weygandt, & Kieso, 2009). In other words, the balance sheet summarizes a
company's assets, liabilities, and stockholder's equity. These three segments give investors, creditors, and managers an idea as to what the company
owns and owes, as well as the

Forms of Business Organization
Forms of Business Organization
a) Sole Proprietorship This is in basic terms a business entity or enterprise owned and perhaps managed by a single individual.
Characteristics of a Sole Proprietorship
Liability. In terms of liability, the owner of the business is in this case liable in his individual capacity for the debts of thebusiness.
Income Taxes. In regard to income taxes, owners of this form of business use their own personal tax returns to report their income as well as expenses.
Organizational Continuity and Longevity. In this case, the demise or disability of the owner terminates the business.
Control. The owner in this case has absolute control of the business enterprise. He or she is the sole decision maker.
Profit Retention. There is no profit sharing in this case like is the case in a partnership. The owner enjoys all the profits alone (Miller and Jentz, 2009).
Convenience or Burden. This form of a business is not a legal entity. For this reason, it is required to comply with minimum regulatory requirements.
Advantages of a Sole Proprietorship
To begin with, this form of business is relatively easy to start (Miller and Jentz, 2009). The sole owner in this case only needs to comply with minimal
legal formalities like seeking the appropriate licenses and permits (state and local).
Unlike a partnership form of business, a sole proprietor is free to make decisions without consulting others.
As he or she remains the sole owner of the business,

How A Business Is An Organization Or Economic System

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