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.
PART A (THE REPORT) SOLE PROPRIETORSHIP: A sole proprietorship is the simplest and most common form of business. It is a business run by an individual with no distinction between it and the owner. The owner is not only entitled to the profits, but is also responsible for its debts, losses and liabilities. * Liability: There is no legal separation between the owner and the business. The owner is held personally liable for any debts or obligations of the business and liabilities of any of its employees.
The size of the credit union does not matter, all credit union have a Board members that have the power to approve or denied any policy changes, refund fees to it members and increase or decrease of the interest rates. The board should implement its power wisely within guidelines of the business, while attending to its fiduciary responsibilities. In the past the Board members have used this power for their owned benefits. Two years ago the credit union was offering 2.50 percent on the savings accounts and 3.15 percent on the auto loans. The credit union was not making much of a profit.
All partners share in the decision making for the business. A partnership agreement is usually established in order to delegate the responsibilities of each partner such as who will make decisions for the business, how will profits and losses be shared, how much money and time each partner will contribute and even a plan in the event a partner chooses to terminate their share of the business. The main advantage of this entity is that it allows more expertise as well as financial support in order to make a business grow. The main disadvantage is that just like the sole proprietorship, the personal assets of each partner will not be spared if the company faces financial
The business "passes through" it's earnings or losses to its partners. All partners pay their prospective share of taxes individually. Partnerships longevity can be short due to the limited availability to funding. Additional funding to a partnership comes from the personal assets of each partner. When partners can't get along and suffer from disagreements the business suffers.
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).
Developing a professional contract administration plan leaves no responsibilities to question. One of the biggest issues in every corporate setting is most employees want to delegate their responsibilities to others who work alongside them. A carefully thought out plan eliminates any room for
Explain why the TUC called a general strike in 1926? An important reason The most important reason which resulted in the Trades Union Congress calling a general strike in 1926 was due to pressure from workers whom they represented over economic reasons and wage structures. 1925 Stanley Baldwin the leader of the Conservative Government and asked Samuel to look into the problems of the Mining Industry. The Samuel Commission published its report in March 1926. It recognised that the industry needed to be reorganised but rejected the suggestion of nationalization.
This is a problem that a lot of nig corporations face these days when being funded by investors or government agencies. There are cases from the past where government funds were given to an organization to use for training purposes. When funds are coming and going in an organization, un ethical people do not record all the necessary information to track the funds correctly, showing that there is more available that there actually is. When this happens, audits are necessary to find where the monies are missing from, eventually exposing the guilt parties so that they can be prosecuted for their
However, throughout three sessions, Stalin also well adhered to some complete policies related to heavy industry and this had become the key principle in Soviet economic policy. The First Five Year Plan revealed so many drawbacks that many senior figures in Soviet government got to consider varioud modifications in its priorities. The transition from First to Second Five Plan was marked by a shift in communications sector. As a shortcoming of First Five Year Plan, the economy was unable to transport the vast quantities of raw materials produced and in response to this unexpected problem, improving infrastructure was a new priority for Soviet economics planners. Also during this period, there was an important historical event, Hitler was elected as German Chancellor and the moderates claimed this would pose a threat of war to Russia, suggesting priorities to be diverted to peasants.