BUS 210 Week3 DQ - 7461

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 The types of business organizations I am more familiar with are the following:

Sole Proprietorship a form of business organization that is owned and managed by one individual who assumes all risk of loss and receives all profits

Partnership a form of business organization that is owned by two or more individuals who assume all risk of loss and receive all profit

Corporation a form of business organization that is created by law, functions as a separate legal entity, and is owned by two or more individuals called stockholders. Stockholders are at risk only for the amount of their financial investment

Franchising a system by which a firm expands into new neighborhoods and towns (or foreign countries) by selling the rights to use the company's name and products to individuals. The franchising company provides training services and an advertising campaign for the purchaser of the franchise. In turn, the purchaser agrees to meet certain quality standards, provide certain products, and pay a franchise fee to the franchising organization.

Each of these types of business organizations has particular advantages and disadvantages. A major advantage of a corporation is its ability to grow by obtaining funds from investors. By becoming a corporation, a business can often compete more effectively with other companies.

I would like to learn more about franchising because I believe it is an opportunity I see in the near future for myself. I would like to either buy a franchise in Puerto Rico or Florida. I think its an easier way to start your own business.

 

Reference:

Corporation of Education Radio and Television (2007). What Type of Business Should I Start? Retrieved July 5, 2010 from http://www.thesekidsmeanbusiness.org/educators_guide/lesson13.php

 

 

 

Laws are created in order that companies will not violate regulations. Their standards will be lower than they need to be. Their primary goal is profit and doing what is right is often costly. As we know, the hardly seem to be striving when oil profits are breaking records while the price at the pump keeps rising, CEO's are making obscene and unjustifiable salaries and benefits and bad things like Enron are about to happen. Industry does not put the good of others ahead of their profits. Ethics are similar to morals - morally it is wrong to kill another human, but morals are not enough for many individuals, so that is why there are murder laws. Laws impose punishments for violation - ethics are only a code of conduct, or guideline.  After doing some research I found information about Nike. Nike, for example, does not employ child labor in the US. They portray themselves as being an ethical company. They do employ child labor in Indonesia and hire Korean subcontractors to supervise the manufacturing of shoes, so when something goes wrong, they blame the Koreans. Now we cannot tell Nike what to do in Indonesia, but we can tell them what not to do in the US because in the US, we believe it's morally wrong to put children to work and we produced the laws to back it up. 

Solution Description

 

 The types of business organizations I am more familiar with are the following:

Sole Proprietorship a form of business organization that is owned and managed by one individual who assumes all risk of loss and receives all profits

Partnership a form of business organization that is owned by two or more individuals who assume all risk of loss and receive all profit