TASK 1 PART A SOLE PROPRIETORSHIP: A sole proprietorship is an organization in which the business is owned by a single individual. This is an easy organization to start, as the individual simply provides the goods or services, charges money, and begins doing business. The individual is also in charge of making all decisions involved with the business. In a sole proprietorship the owner and business are considered one, which can make it difficult to get the necessary funding as the owner must provide all personal financial statements. The owner is also held responsible for all legal and financial liabilities.
He received his B, A, in accounting and is a CPA. The skills and traits that he possesses are human resourcing. Making sure his team has all the proper training knowledge and knows how to make his customers happy. He also believes in making sure his people (employees) are even happier. They are the key to making his business a success, if your employees are happy there is no reason why your customers will want to come back and be serviced by them.
* Control: Because there is only a single owner, a sole proprietor has control of all aspects of the business. The owner makes all of the decisions in how the business is to operate. * Profit retention: A sole proprietor keeps all profits of the business and does not have to share them with another individual. If the sole proprietor employs others, then it is the responsibility of the owner to pay the employees. * Location (expansion): Relocating to another state for a sole proprietorship is simple.
Running Head: OVERVIEW OF MANAGEMENT Overview of Management University of Phoenix MBA 502 – Managing the Business Enterprise Table of Contents Introduction 3 Primary Functions of Management 4 Figure 1. Organizational Structure Identifying the Primary Functions of Management 5 Technology and the Internet 6 Porters Model 8 Conclusion 10 References 11 Introduction Management as defined by Gomez-Mejia, Balkin (2002) is the individuals responsible for making resource allocation decisions and with the formal authority to direct others. All organizations, regardless of their size, have managers whose responsibilities are to ensure the successful daily operations of the company. Kudler Fine Foods is an example of
P1 - The purpose of accounting and the categorization of business income and expenditure I have been asked by my line manager in C&V Fashion to get an understanding and think about the accounting departments role in the business. The stakeholders that are involved with C&V Fashion are – * Owner of C&V * Lenders * Suppliers * Investors * Employees * Customers Owner of C&V The owner of C&V is the only stakeholder of the business. He will be the most involved and influential character within the business. C&V is a sole trader business, which means there is one person who owns it. Lenders Lenders such as the bank lend a company or somebody opening a new business a sum of money on a short
In my role I have to deal with a wide range of individuals who are both directly associated with the Care Home and those who are a necessity but who are indirectly required to assist with the business/operational needs. These “groups” can be split in two; Direct and Indirect. Direct Group Indirect Group Management Accountants Staff Solicitors Residents Banks/Stakeholders Relatives Employment Consultants Commissioners Suppliers 1.2 Explain how to support effective communication within own job role. With regard to supporting effective communication I always emphasise that I have an open door policy. If people feel you are approachable then they will not hesitate to seek any clarification they may require on any communication and this in itself supports effective communication.
I’ve tried to learn as much as I can about the company and the workplace. I also make sure that I know what the residents are doing and who the relatives are by name. As a customer you want to know you are spending money with a good organized company with informed, caring and competent staff. I also think presentation is everything. A well presented receptionist and reception is a must and a tidy desk is a tidy
Each person that comes in will have a different view on the business. Utilitzing the core workforce allows the company the consistency that it needs to become successful. This is a easy way to promise customers that they will obtain the same customer service no matter what store they stop into. Hire or Retain:Tanglewood should absolutely work on retaining their associates and developing them. This shows the company ability to invest in their associates and assist with employee relations.
This hybrid model will be a combination of the Front-Back end and the product division structure. According to this model, the manufacturing would take place at the cheapest location and then each geographic location will have its own engineering team and sales team, based on what division is being catered to in that region. This way, Dynacorp will comply with the rules and regulations needed by its products in different geographic locations. Another feature to be added into this model is that of an intermediate set of people called as Business Analysts. They will reside between the Front and Back end, thus making it easier for the front and back end to work by coordinating the activities and understanding the business needs for each
That said, Johnson & Johnson makes use of a decentralized management system that allows all of the company's subsidiaries like Codman to operate autonomously in order to compete in their particular markets. A decentralized operational system allows for multiple individuals to take responsibility for making business decisions and running the daily operations of the particular company that might be implementing said management system. In other words, decentralized organizations depend on a team environment and its dynamics in order to accomplish results at different levels of their business. In this context, Johnson & Johnson implementation of said operational system enables Codman & Shurtleff to develop its own plans and strategies by distributing the responsibility of its operations to different sectors of the business (much like Johnson &Johnson delegates autonomy to its subsidiaries) in order