Types of business ownership

The structure has its advantages and disadvantage is

Advantages, teamwork, sharing resources, flexibility, balance conflicting Objectives more effort efficient performance, opportunities for development, both personally and professionally

List for characteristics that most successful entrepreneurs have in common

Ambition independence self-confidence risk takers vision creativity energy passion commitment

Acquisition

And acquisition is where a corporation investor group locate a company girl research, then works with and negotiate with a Board of Directors to purchase or acquire it. Facebook buying Instagram and Disney by 21st century fox are examples of modern acquisition

Intrapreneur

And intrapreneur consists of those who don't unknown companies, but they help apply vision, creativity, and was taking within large corporations.

division of labor

Dividing work into separate test for jobs among the employees of an organization is called the division of labor

Is the process of dividing work into separate test or jobs among the employees of an organization

Division of labor

Briefly discussed her relationship between division of labor and specialization

Division of labor is the process of putting work into separate jobs. The degree to which work is divided into smaller jobs of specialization

Jaylin works for a large corporation, but within the company, he runs what's essential another business. His main responsibility is to identify new ventures for the company and come up with strategies renovations to allow the company to stay competitive. Jaylin can be best described as

Intraprenuer

Sole

Is a form of business that's established on operated in most often financed by one individual

An entrepreneur starting a small start up company and isn't sure about whether current market trends will continue in the next few months. Which organizational design should be considered

Organic structures work better for smaller businesses and can help the company cope with uncertain economic conditions

Define organizing as a process of management

Organizing is the process of coordinating and allocating the companies resources to carry out the organizations plans.

Team Types

Problem-solving, self manage, and cross functional

What's the first step and starting a new business?

The first step in starting a new business is a self assessment to determine whether you have the personal traits you need to succeed, and if so, which type of business would be best for you.

If entrepreneur entrepreneur doesn't have the resources needed to start the company, there are two types of equity financing

The first time, angel investors, or individual investors or groups provide financing to start up businesses, giving their own money to the company. Most often an angel investor will invest early on in the companies development. The second type, venture capital, this when financing is obtained from venture capitalist, investment firms that specialize in financing a small high gross businesses.

List of five steps needed to incorporate a company

The following are the first steps of incorporation select a company name, write out the articles of incorporation and file them with the state office, pay fees and taxes, meet annually as an organization, adopt bylaws, elect directors, and pass operating resolutions.

Corporations less liability

The word corporation often brings to mind the company such as Apple, Amazon, and Microsoft. However a corporation is always a big well-known company. Corporations can be large multi national corporations or small companies were just a handful of employees in small revenues and $50,000. The corporation is a legal business entity that's held accountable by the laws of the state in which it operates

Partnership

There are two types of partnerships general partnership and limited partnership... in general partnership partners share the profits with each other. They own assets of the company equally and are allowed to act on behalf of the firm. In a limited partnership, there are two types of partners one or more general partners who have unlimited liability, and one or more limited partner to liability is limited to the amount of their investment.

Conglomerate merger

Two companies that are unrelated come together to try to reduce risk. For example, food companies that sell different products may join in a conglomerate merger they can sell to one grocery outlet

A blank occurs when a company buys out another company in the same industry

Vertical merger

Franchises

A franchise has a business where a franchise or, the individual or company providing the product or service, entered into a agreement with the franchisee, the individual company providing the services or product in a geographic area. A franchisee purchase is a business package, which includes the right to sell the product or service of franchise, proven methods for providing part of service, training, marketing, and trademarks this type of business law allows a franchisee to not have to start from scratch with starting a new business.

Horizontal merger

A horizontal martyr takes place going to companies in the same industry, such as cellular phone companies, merge together. Business is memories horizontally to reduce costs, give a larger offering a products, I want this competition.

Joint ventures

A joint venture is 12 or more companies form to pursue a specific project but a set timeline. When a product of venture is too large for one company to take on by itself, it may seek other this is to join in and help it complete the project. The joint venture offers advantages such as access to new products and technology, and entrance into new markets.

merger

A merger happens when two or more business is going to form a completely new company. Cell phone company such as T-Mobile, Sprite, Verizon and others will often merge

Multipreneurs

A multipreneur new were wishes to start a series of companies and I'm an entrepreneur with this mindset helps to build the businesses and want to grow. The multipreneur thrives on getting businesses started and helping them experience growth.

Entrepreneur characteristics or as follows

Ambition independence, self-confidence, risk takers, vision, creativity, energy, passion, commitment.

Vertical merger

And vertical merger happens when a company buys out another company in the same industry. This happens often in manufacturing in the technology industry. And example maybe that Microsoft buys out a software company whose product will enable better graphics for the MS suite of office products.

List three advantages and three disadvantage is of sole proprietorship

Any other falling low cost, owner keeps a profit, owner has full control of the business, freedom from government regulation, ease of Texas, easy to dissolve Disadvantages; unlimited liability, hard to raise capital, like with managerial and leader ship experience, how to find employees, more difficult time management, losses directly affect the owner

Managers who try to solve problems on their own without seeking advice from others in the organization used the leader ship style

Autocratic

Lesson 2 the organizational structure

Business organization is very important for a manager or business owner. This includes coordinating and allocating the resources of the business so we can carry out its plans in achieve its goals. The way a business is organized includes, figuring out the work activity needed and dividing the task to employees, grouping jobs and employees department assigning tasks and authority delegations

Advantages of incorporation

Consolidation, limited liability, is to transfer ownership, lifetime, text deductions, investors.

Special forms of business organization

Cooperative, it's a legal entity that has many of the features of a corporation, such as limited liability, unlimited lifespan, and a Board of Directors, and a cooperative, memory owners pay annual fees and share in the profits. The cooperatives themselves don't retain profits, so they aren't subject to Taxes.

Ask these questions when designing your business or as follows

Customer scope who are you serving? Value proposition what are you offering? Value delivery operating model combination of signature practices how are you able to deliver? Value capture sources of uniqueness why won't it be copied?

This advantages of small businesses

Entrepreneurs might have limited management abilities, there can be many obstacles to acquire enough financing, laws, regulations, or competitors can make it harder to compete in the market.

The following are the key components of the business plan

Executive summary, vision and mission statement, company overview, product and or service plan, marketing plan, management plan, operating plan, financial plan, exit plan.

The traditional structure

Traditional traditional organization consist of the grouping of people, tasks, and resources, known as departmentalized

Disadvantages of a sole proprietorship

Unlimited liability, harder to raise capital, like a managerial or leader ship experience, finding employees, time management, losses..

Acquisition

When a company purchases another business increase profit

Specialization of Labor

When tasks are broken down even further is often called specialization meaning a certain a task can only be performed by employees with certain technical skills

The incorporation process

When the business owner or owners decided that they want to form a corporation, this is known as incorporating the multiple steps to the process.

Centralization

When the concept of span of control there's a component or deciding on at what level decisions should be made is called centralization

The matrix structure

an organization combines functional and divisional chains of command in a grid so that there are two command structures-vertical and horizontal

group cohesiveness

qualities of a group that bind members together and promote liking between membership

Generally there are two types of cooperatives

Buyer cooperatives, combine the members purchasing power by creating buying power. Seller cooperative are the most common in agriculture industries. The individual producers a cooperative join up to compete against larger industries.

Two forms of business financing exist or as follows

Depth, which is borrowed funds that must be repaid with interest overstated. And equity, which is funds raised to the sale of stock ownership up in the business many owners prefer to boost strap the start up, which means using their own resources

There are five common types of departmentalization

Functional departmentalization, product departmentalization, process departmentalization, customer departmentalization, geographic departmentalization

Mr. five types of departmentalization

Functional product process customer geographic

Entrepreneur characteristics

Hard work, motivation, risk-taking, initiative, creativity, resilience, perseverance, market understanding.

Three types of mergers

Horizontal, vertical, an conglomerate:

organization

Is the order and design of relationships within a business or anything. Tatian must have two or more people were working together to achieve common goals and a clear purpose.

Jenny has to capital to start a new business and wants to expand how she's investing her money, but she doesn't have a product or service expertise, training experience, or knowledge of the business environments create a new business from scratch. Which business option should she consider and why?

Jenny might consider a franchise opportunity. That's a franchisee, she'll be responsible for paying franchise class, but the phone charger will provide her with the product or service, the license to sell a product or service, and the training in marketing guidelines.

Disadvantages of partnership

Liability is unlimited, potential for conflicts between partners, profit-sharing, how to dissolve an exit, this creates some complex issues for the partners especially..

Disadvantages of franchises

Loss of control, call so franchising, like a freedom.

Line and staff line organization

Mine organization is created with very direct and clear lines of authority communication flowing from the top of the organization to the bottom

Articles of incorporation include the following items although they may very

Name of corporation, company goals, types of stock and number of shares of each type to issue, minimum investment by owner, methods for transferring shares of stock, address of corporation office, names and addresses of the Board of Directors.

The following factors decide how centralization decision making should be within the organization

Nature of the work task, where the employees are located, what are the manager can delegate responsibilities, how much communication and interaction I need it between employees and management, level of skill of the workers in the motivation.

In which type of planning is the CEO of a company most likely to be involved?

Strategic planning

The disadvantage for the matrix structure

Struggle over power can lead to confusion, teamwork isn't cohesive

At which managerial level or technical skills most important, and why?

Technical skills are most important at the supervisory manager level, since these managers work directly with the employees producing the goods or providing the services.

Starting a business always involves ___________

The idea, what structure to choose, business plan, financing the business, buying a business, business risk,

Business risks

The most common causes for a business to close or as follows economic factors, downturn's in the economy due to high interest rates Financial factors, lack of camp at all, no cash balance, or too many expense, lack of experience, realizing business knowledge is lacking, unable to manage a business, or lack of technical knowledge. Personal reasons, the owner decides to sell or MoveOn for other reasons lack of planning, didn't identify potential risks that a company move.

Types of corporations

There are three types of corporations that provide limited liability, the C corporation is a conventional form of corporate organization. As corporations are hybrid entities that allow small corporations to avoid double taxation of profits but you'd buy the business if they need certain size and ownership requirements, limited liability company LLC's are newer and more popular types of business they appeal to the small business structure, as they are relatively easy to set up and aren't subject to many restrictions. LLCs offer the same liability protection as a corporation.

Stockholder or shareholder may receive portions of the profits that I called dividends

They can sell or transfer the shares at any time they choose to if they choose, they can attend the annual meeting and vote on the Board of Directors or other matters affecting the corporation. The Board of Directors are responsible to govern and handle the management of corporation. Choosing corporate officers, oversight of finances, and setting goals and policies are the common duties of the Board of Directors.

Buying an existing business will require questions to be answered they are as follows

Why is the business being sold? Has the business been making a profit? What's the value of the company? Will the owner be around or available to provide in assistance if needed? If the business has customers, are they willing to stay with the company after a change of ownership? This is plan to still need to be prepared in purchasing an existing company, and outside assistance may be needed to negotiate the sale.

Committee Structure

an organizational structure in which authority and responsibility are held by a group rather than an individual's

informal organization

the system that develops spontaneously as employees meet and form cliques, relationships, and lines of authority outside the formal organization

Disadvantages of corporations

Double taxation, formation cost, more government intervention and restrictions.

Advantages advantages of a partnership include the following:

Easy to form, available capital, diverse skill and expertise, flexibility, no special taxes, lack of regulation.

Advantages of small businesses are as follows

Flexibility in less structure allow a small business to adapt and change with the market, products can be brought to market faster, small businesses can specialize in one product or service, customers receive a more personal touch to customer service.

Blast for common causes of business failure

For common causes of business failure or economic factors, financial causes, lack of experience, and personal reasons, such as the owners decision to move onto another opportunity.

Advantages of franchises are as follows

Expansion. A franchise has the ability to expand. They financer on franchise unit, and franchisors grow without making a large investment. Branding. Since the franchise has known, consumers already are aware of the product or service.

Buying a business

If an entrepreneur isn't comfortable with starting their own businesses another option is to buy an already established business that has gone up for sale. This approach to starting this and says for your wrists but most of the same steps I needed that I use for starting a business from scratch

Mechanistic Organizational Structure

Is defined a large degree of job specialization, a strong sense of departmentalization, many middle-management levels in a narrow span of control with centralized decision-making.

Organic

Is defined by many of the opposite characteristics of the mechanistic structure is characterized by lower degrees of departmentalization, less middle management, shared decision-making, and a smaller chain of command. Learning organizations often have this type of organizational structure, which is commonly called a flat structure

Decentralization structure

Is it already pushed down to employees and his frequently delegated. The benefits of a decentralized structure are that it allows for a quicker decision making. Creates motivated employees who feel involved, and allows more creativity and innovation within the company.