The business is not required to file taxes, as the business and owner are considered one. Longevity or continuity: In a sole proprietorship should the owner die the business will typically lose their value. The owner can leave their business to an heir in their will, however there are many tax problems that can arise if the estate is not planned correctly. Control: In a sole proprietorship the owner is the person who has registered the business. This individual is in charge of managing the business, and has all control and makes all decision concerning the business.
But in Henderson printing, there is no compensation system and the owner of the company takes all decision based on its mood and his attachment to the employee. The third criteria is "attract and retain qualified individuals" (Long, 2013, p.12). It specifies that the individual's attribute to perform the required task must be in the company. In Henderson Printing, the employee or workers were working in the company and they were happy with the company, but they were not possessing the attributes to perform their work task and most of the production, customer satisfaction and marketing was handled by owner itself. The fourth criteria is "promote desired employee behavior" (Long, 2013, p.12).
In relation to other companies, her company is a small one and therefore does not have specific contract administrators. The people in the company’s ‘home office’ all do multiple jobs and hold multiple job responsibilities and their primary focus is not the contracts that are basically kept similar for everything. In the case of Othello’s company developing a contract administration plan has taken his company to the next level. The last course he took was human capital management and ironically this was the major issue his company was dealing with. Many of the employees at the company are independent contractors who have their own companies.
Strategies developed from the brothers are supported through all organization and implemented in a timely manner, leading to quick launches of products to the market. Equity – There are no policies of employee equity and fair treatment; no specific salary range for each level of position; no job description of each position; no performance reviews for the lower levels of employees; and no policies for termination. Executives and managers are hired at starting salaries determined by their negotiation skills and not by standard salary ranges. Power and Influence – Firstly, the Wilson brothers built up good
Constant improvements are being made in all areas of his business in order to help it succeed. Globalization is a critical factor in the continuing growth and success. Though his company is not global, it is the same basic concept of utilizing all of the resources available to you within and outside of your community. Since opening his automotive business, my friend’s client list has only grown larger and more diverse to people in a wide range of fields that sometimes he may use to help himself out in exchange for automotive help. Technology is a leading role in effective business practices.
The ISO management system standard offers a roadmap aiding all businesses regardless of their size in setting up and operating a management system. By implementing TQM and ISO the organizations can see improvement in: TQM • Customer Satisfaction. • Business Efficiency and Effectiveness. • Long Term Competitiveness. • Defect and cost savings.
c) Corporate management was concerned with a single product with a short term production cycle. d) The program manager whose expertise was entirely within the commercial field was concerned only with profitability and did not closely interact with the various customers. e) Selecting a project manager was dependent upon the size of the contract to overcome the problem of bringing in new talent to direct ongoing projects. f) Using the same talent from functional departments for the long-term cycle of government contracts due to the shortage of abundant talent. g) Program management was still less developed in Acorn Industries.
ORGANIZATIONAL STRUCTURE: IMAX’s organization structure reflects its overall objective and strategy and how it intends on meeting such set objectives. Imax corp. employs a very simple streamlined, multi-functioned staff reporting through a limited chain of command. IMAX is a mid size corporation with locations around the world. As a result, it employs a functional and centralized structure to help maintain a consistent form all across its location. PROMINENT POSITIONS Board of directors Bradley J. Wechsler The role of the Board of Director is to supervise the business and affairs of the Company, Which are conducted by its officers and employees under the direction of the chief executive office CEO, to enhance the long-term value of the Company for its shareholders.
Leadership embraced a wide range of definition throughout human history from political Traditional theories of Leadership 2 to economical aspects. Leadership has evolved from a reflection of military success in ancient times to the showcase of flourishing companies and organizations. Although it is frequent to match it with management but leadership does not depend on a structural position in other words no title is needed to be a leader. According to business dictionary online: “leadership is the activity of leading a group of people or an organization which involves establishing a clear vision, sharing it with others, while sharing information, knowledge, and methods to realize that vision.” Sociologists have studied the emergence of leaders and devised theories of leadership. Traditional theories of leadership, especially those derived from psychological orientations are embedded in a logical positivist framework.
(3) Zara spends little money on advertising, for instance their advertising costs are equivalent to 10% of competitors’ expenditure. Zara applied a different promotion of the brand- making its stores more visible and appealing to the customers, which is crucial to the success of the business. Before they open a new store, they make an extensive market research, which is focused on prestige locations, remarkable building, layout and decors. (4) Zara is not producing a high quantity of clothes, but prefers fewer