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Purpose of Assignment
The purpose of this assignment is to select the best organizational form, and to discuss ethical concerns with the business scenario.
Assignment Steps
Scenario: Adam and Laura wish to open a pet grooming shop called Dazzling Doggies Day Spa. Laura's mother Beth would like to contribute the startup costs in exchange for a share of profits, but she doesn't want to participate in the daily operations of the business. She also doesn't want to have any personal liability in the business.
Develop a 350- to 700-word summary with the following information:
- Which business organizational form would be best given the above circumstances, and why?
- Unbeknownst to Laura and Beth, Adam begins to use Dazzling Doggies Day Spa's checking account to pay all his personal bills. Are his actions ethical? Why or why not?
Cite a minimum of two peer-reviewed references. Format your paper consistent with APA guidelines.
Verified Expert
This assignment talks about business forms and ethical rules followed in business. A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combination. A partnership may result in issuing and holding equity or may be only governed by a contract.Partnerships present the involved parties with complex negotiation and special challenges that must be navigated unto agreement. Overarching goals, levels of give-and-take, areas of responsibility, lines of authority and succession, how success is evaluated and distributed, and often a variety of other factors must all be negotiated. Once agreement is reached, the partnership is typically enforceable by civil law, especially if well documented.
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