introduction to business concept

Introduction to Business

Concept

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THE COMPANIES

TUTORIAL FOCUS

COMPREHENSIVE QUESTIONS

CHAPTER’S OVERVIEW

KEY TERMS DICUSSION

DISCUSSING ACTIVITIES

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Intranets, Extranets,and Private Exchanges

What is Company?

KEY TERMS DISCUSSING

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• Company: an organization which goods or services are sold in order to make money.

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A SOLE PROPRIETORSHIP?


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PARTNERSHIP?


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CORPORATION?


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CORPORATION?


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Owners of a corporation are called shareholders (or stockholders).

When a corporation issues only one class of stock, we call it common

stock (or capital stock).

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JOINT VENTURE?


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FRANCHISING?


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REPRESENTATIVE OFFICE?


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REPRESENTATIVE OFFICE?


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BRANCH OFFICE?


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A SUBSIDIARY?


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Intranets, Extranets,and Private ExchangesCHAPTER SUMMARY

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FACTORS FOR CONSIDERING BEFORE CHOOSING BUSINESS FORM

® Tax considerations® Liability exposure® Start-up capital requirements® Control® Managerial ability® Business goals® Management succession plans® Cost of formation

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A Sole Proprietorship: is a form of business ownership which has only one shareholder and is an enterprise which is established and operated by a single natural person who is the owner of all its capital. ADVANTAGES:® Ease of starting and

ending the business® Being your own boss® Pride of ownership® Leaving a Legacy® Retention of company

profit® No special taxes

DISADVANTAGES:® Unlimited Liability® Limited financial

resources® Management difficulties® Overwhelming time

commitment® Few fringe benefits® Limited growth® Limited life span

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A PARTNERSHIP: associate with one or more people who co-own a business for the purpose of making profit.

ADVANTAGES:® Easy to establish® Ability to attract limited

partner® Tax advantages® Flexibility ® More financial

resources® Shared management

and pooled knowledge® Longer survival

DISADVANTAGES:

® Unlimited Liability

® Division of profit

® Disagreements among partners

® Difficult to terminate

® Lack of continuity

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CORPORATION: is a separate legal entity and the most complex of the three basic forms of ownership.

ADVANTAGES:® More money for

investment® Limited Liability® Ability to continue

indefinitely® Ability to attract capital® Ease of ownership

change® Ease of drawing

talented employees

DISADVANTAGES:

® Initial cost® Extensive paperwork® Size® Difficulty of termination® Double taxation® Possible conflict

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Form of Business74% 7% 19%

Sole Proprietorship Partnership Corporations

Sales Revenue

5%

6%

89%

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Intranets, Extranets,and Private ExchangesREVISION’S QUIZ

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Q1: An association of two or more people who co-own a business for the purpose of making a profit.A. Sole proprietorshipB. PartnershipC. Corporation

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Q2: is a business owned and managed by one individual and is the most popular form of ownership. A. Sole proprietorshipB. PartnershipC. Corporation

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Q3: is a separate legal entity and the most complex of the three basic forms of ownership.A. Sole proprietorshipB. PartnershipC. Corporation

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Q1: What factors should you consider before choosing a form of ownership? Please list down several and briefly explain.

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Q2: What does unlimited liability mean?

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Q3. What are the main differences between general and limited partners?

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Q4. What are the advantages and disadvantages of corporations?

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THE TIME IS OVER

Submit your work!!!

KNOWLEDGE SHARING ACTIVITIES

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Questions & Comments???

THANKS FOR YOUR GOOD

PARITICIPATION!!!

introduction to business concept

Documents

private exchangescorporation

private exchangeswhat

private exchangespartnership

private exchangesbranch

private exchangesjoint

private exchangesa subsidiary

capital stock

common stock