How would operating the store as a corporation be different

Assignment Help Operation Management
Reference no: EM132171102

You have been able to save $100,000. Your best friend (you supply the name - it doesn't have to be your real best friend) just won $100,000 in the California lottery.

You and your best friend have always talked about opening a store that sells (you name the store and provide a description of what the store will offer).

You have enough money to start the store on your own. Your best friend wants to invest in the store with you, but you are not sure if you want [him/her] as a "partner." Your assignment:

1. Using the example of your store, explain the advantages and disadvantages of opening the store on your own as a sole proprietorship.

2. Using the example of your store, explain the advantages and disadvantages of opening the store with your best friend as a general partnership.

3. Using the example of your store, explain the advantages and disadvantages of forming a corporation with your best friend to operate the store. How would operating the store as a corporation be different from operating the store as a general partnership?

Reference no: EM132171102

Questions Cloud

Understand from low and high context styles of communication : How does culture affect communication? What do you understand from low & high context styles of communication?
Do you believe that quarks burgers was justified : Jake's franchise was very successful, and every year he received an award from Quark's Burgers for being one of the top 10% of its franchisees.
Organizations strategy by providing clarity and commitment : As a manager I can contribute to the management and execution of my organizations strategy by providing clarity, commitment, and accountability.
Describe any sources of risk or uncertainty in its operation : Describe any sources of risk or uncertainty in its operations. Do the financial reports indicate risky or uncertain activities or changes to the economic.
How would operating the store as a corporation be different : You and your best friend have always talked about opening a store that sells (you name the store and provide a description of what the store will offer).
At what production level would X Company be indifferent : X Company is considering buying part next year that it currently makes. At what production level would X Company be indifferent between making and buying part
How did the situation get to be an ethical issue : Was the situation handled correctly? Why or why not? If so, what ethical concept was used to justify the action taken?
Describe different ratios of single factor productivity : Find and describe different ratios of a single factor productivity. describe different ratios of a total factor productivity.
From what sources might a leader derive power : From what sources might a leader derive power? Which leadership style, or information, or data sources, or skills might work best for a leader whose firm

Reviews

Write a Review

Operation Management Questions & Answers

  When engaging in human resource planning

Why is it important to look at both the manager and the employee point of view when engaging in human resource planning,

  Example of an adhocracy culture

Thomas, an employee for a government contractor, likes the strict culture that he finds with ABC Industries, This is an example of an adhocracy culture.

  Major implication of the hawthorne study

An example of a company action that should be considered legal but unethical would be to ________. A major implication of the Hawthorne study was ________.

  How does toyotas philosophy of dealing with defects

How does Toyota's philosophy of dealing with defects, empowering employees, and developing capabilitiesimpact strategy execution?

  Integrated approach combining tools-strategy-structure

'Total' quality management involves an integrated approach combining tools, strategy, structure and involvement. What are the key components in a successful program and how can strategic operations managers establish and sustain TQM in organizations?

  What is the probability of generating a defect

A production manager at Ultra Clean Dishwashing Company is monitoring the quality of company’s production process.What is the probability of generating a defect

  Advertising messages rely more upon verbal cues

Advertising messages rely more upon verbal cues than on nonverbal cues to promote products. Political candidates are usually better at preparing and controlling their nonverbal behaviors in structured situations than in spontaneous ones. Self-objecti..

  What challenges is the company facing in current environment

Briefly describe the company's strategy with respect to regional location of its facilities for manufacturing development.

  How does a firm know they have the correct objectives

Citing reputable sources, explain why having objectives is a very important part of the business strategy and what happens when a firm does not identify "good" objectives. How does a firm know they have the correct objectives?

  Who does the ethical dilemma impact

George Stein, a college student working for Eastern Dairy, is suddenly faced with an ethical dilemma. George has very little time to think about his choices – less than a minute. On the one hand, he can do what Paul tells him to do, and his shift can..

  Physical controls would have decreased the potential

How and what type of Technical, Administrative or Physical controls would have decreased the potential for the scandal?

  Technology and innovation management research

This activity requires you to write down a Research Paper on the subject of your choice in Technology and Innovation Management.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd