Ronald Lyday (000337108) LIT1 Task 310.1.2-01-06 Part A (Rev. A) Sole Proprietorship In a Sole Proprietorship the owner is the one responsible for the ownership and conduct of all business. All decisions, whether good or bad, are made by the owner. Income taxes are assessed as personal income for the proprietor, which is at a higher rate than other forms of income. The company can be maintained for as long as the proprietor desires to conduct business on their own.
Stakeholders can decide a plan for the commerce. However the direction to carry out that plan is set from the CEO. The CEO decide that in which marketplaces the organization will enter, against which organizations their organization will contend with what lines of the product, how their organization will make different itself, etc. The CEO of the organizations will make decisions, form partnerships, set up the budgets for the projects of the organization, and recruits one team to turn the organization anticipatively. (Schlesinger) Stakeholder can be outer or inner to the commerce or the organization.
Ownership O’Neill’s is owned a private limited company which means it’s a form of incorporated business that is used to reduce exposure to debt by the owners. A private limited company can function as any other type of business, including corporations. A PLC pays taxes as an independent unit from the shareholders and managers of the company. The Advantages of being a private limited company • If successful and wants to raise money for growth it can become a plc and offer shares to the public • Use profits to set up pension schemes • Limited
Within business ethics, an important factor is the relationship within a business – in all aspects. Whether it be the company itself, the employees, employers, shareholders, stakeholders, they all are influenced by one another and have a strong role dedicated to them within a business. Stakeholders are those that hold an interest in the company, but do not own it, and stockholders have actual shares within the company – they own a part of it. This can just be a small fraction that they share with many other people, or they can own a large fraction of a company. Scholars such as Friedman suggest that treating the economic responsibility as the most important responsibility of a business, is called a profit-maximising view, and “the social responsibility of a business is to increase its profits.” This kind of view states that a company should be operated on a profit-orientated basis, with its sole mission being to increase profits.
Corporations rely on the functions of law to protect their business dealings while managing business connections. Legal counsel, arbitrary agreements, order, safety, establishing good rapport with consumers, vendors, etc. are a few functions of business law (ehow.com, 2015). Like you or I, businesses have to pay taxes on income they earn, and tax law determines how businesses pay taxes. Business owners can choose from one of several business options that the Internal Revenue Service’s offer in regards to tax (nbea.org, 2007).
C. improve the performance of people. D. improve the quality of overall work life. 4) Which of the following statements about the management of organizational culture is NOT correct? A. dictate rules from the top of the organization. B. corporate culture can be managed by directly modifying the observable culture, shared values, and common assumptions that deal with issues of external adaptation.
Level 2 Certificate in Principles of Business and Administration Unit 1: Principles of personal responsibilities and working in a business environment Assessment Section 1 – Know the employment rights and responsibilities of the employee and employer 1. Identify four main points that would be included in a contract of employment. If possible, use an example contract to support your answer (feel free to obscure any confidential information). Salary Hours of work Pension infohrmation 2a) List three key points of legislation that affect employers in a business environment. Health and safety Pay and pensions Data protection 2b) List three key points of legislation that affect employees in a business environment.
According to Manoski (2002, p. 1), “R&D strategy is both an input to and an outcome of the business strategy. In its preliminary state it provides a key basis for the identification, evaluation and selection of business opportunities and therefore, a set of options for the direction of a business.” Riordan presently uses a research and development strategy; however, with some fine-tuning, the organization could discover trends beyond its current domestic and China focus by expanding into other international areas. By expanding its horizons, Riordan may discover other needs the organization is not meeting or ways for improving existing products. The latter part of this strategy provides the framework necessary for execution of this strategy in alignment with the differentiation
Identify the social, political, regulatory, legal, technological, and international, external and internal environments in which a business operates. 3. Distinguish the numerous stakeholders and recognize the issues represented in each type of business environment relative to impact by operations of the business and impact upon the operations of the business. 4. Compare and analyze the various and sometimes competing considerations attending diverse stakeholder interests and inherent in cross-cultural multinational environments.
More companies are recognizing philanthropic giving can “reduce business risk, open up new markets, engage employees, build the brand, reduce costs, advance technology and deliver competitive returns. These statistics are “no brainer” reasons to give to charities. By making a collective effort by businesses to give to charities we can live in a more socially responsible world. Notes: (DO NOT INCLUDE IN PRINTING) 2+ pg single-space explanation of target market (demographics, psychographics, geographic, product usage) Due to our unique company strategy, we must observe both our consumers (the charities) and pay special attention on our suppliers (the donors). As such, we have split our research into these two separate entities.