Business Organization Checkpoint

In: Business and Management

Submitted By islandgirl
Words 594
Pages 3
Checkpoint: Business Organization

Noel Lee-Lo Foundation of Business (BUS210) University of Phoenix, Axia College Prepared for: Edward Jeffreys

May 26, 2011

The joint-stock company is a connotation of characters in business originality with convenient shares of stock, greatly like a firm excluding that stockholders are accountable for the obligations of the corporate. It is likewise a form of company or partnership among two companies. Credentials of ownership are disputes by the business in reoccurrence for each input, and the investors are free to transmission their proprietorship concern at any time by vending their stockholding to others. Here are two types of joint-stock company, the open market and the private company. The stocks are typically only detained by the boards and Company Secretary, obligation for which they decide to be accountable. For instance, Microsoft Inc. represents this type of company. Apprehensive stockholders wait for newsflash about the Microsoft Inc. a joint-stock company. This is when joint-stock businesses are a method of corporation in which each colleague, or shareholder, is economically accountable for the performances of the business. A Limited Liability Company in the regulation of the enormous mainstream of United States authorities is a lawful method of Business Company that delivers limited liability to its proprietors. Limited Liability Company is a comparatively new business construction permitted by national decree. LLCs are widespread since, comparable to a corporation; proprietors have limited private liability for the obligations and activities of the LLC. Other landscapes of LLCs are further like a firm, providing administration suppleness and the advantage of permit through fiscal policy. Owners of LLC are known as members. Meanwhile most countries do…...

Similar Documents

Business Organization

...My business organization is a non profit organization that buys houses and fixes them up to sell to low to middle income families. The organization consists of local people in the community whose sole interest is to revitalize abandoned neighborhoods, by giving honest hard working people the opportunity to be able to own their own home. Today’s housing market is overpriced, not every family can afford to live the American dream. The goal of our organization is to give every family the opportunity to be able to obtain affordable housing at reasonable prices. We buy homes that are in old run down neighborhoods because we are able to buy the real estate real cheap. Once the home is finished being renovated, the house goes on the market. The families combined annual income has to be anywhere between $30,000 and $55,000. After the house is sold the organization only makes a profit of no more than $10,000, which is reinvested in another home renovation. Business Rules • Every person will be treated with respect • Total combined income will be $30,000 – 55,000 • Credit checks will be performed on all potential buyers • The organization will profit no more than $10,000 • Background checks will be performed on all potential buyers • Only one home is to be sold per family • No more than 7 houses are to be sold each quarter • Potential buyers will use the organizations financing options • Potential buyers will have to take a 3 hour seminar...

Words: 445 - Pages: 2

Checkpoint: Business Organization

...Checkpoint: Business Organization Two friends, Joe and Bob, decided that as they both loved beer they wanted to open a Brew Pub. However, they needed to raise capital to finance the purchase of the equipment for operating a brewery. Joe and Bob decided the best way to raise the capital necessary was to offer stock in their new business but they did not know how to set up a company. Joe and Bob hired an attorney that specialized in setting up organizations to talk about the best way to set up the company and raise the capital. The attorney discussed the various options such as offering joint stock. The investors would purchase stock certificates, which guaranteed the investor a percentage of the profits. However, the downside would be that if the company folded the investors could be sued by creditors. Joe and Bob agreed it was unlikely they would find any investors willing to invest using this method. The second option the attorney offered was creating Limited Liability Company. Investors would still purchase stock for a percentage of the profits, but they could not be sued by creditors if the company folded. The third option would be to create a Partnership where a group of professionals would agree to pool their resources in exchange for being the only stockholders. The last option was a Sole Proprietorship where the company would be owned by one individual. Joe and Bob were planning to own and run the business, so this was not a viable option. Joe and Bob decided......

Words: 291 - Pages: 2

Business Organization

...The twenty-first century is a period of unprecedented change in organizations. The popular Business press constantly documents organizational restructuring, reengineering, downsizing, and other assorted changes. Even during the robust economy of the late 1990s, many large Companies were shedding jobs at an incredible pace. Terms such as downsizing and rightsizing may suggest a one-time fix, but many experts view this as an ongoing process for organizations of the future (Richman, LS, 1993). So what is organizational change? Organizational changes are departures from the status quo for smooth trends (Huber, GP, 1995). It is the process of altering or modifying the current state in terms of behaviors or functions (Harrington, N, 2008). The forces of change are everywhere, they can be found within the organization itself and they can be found in the external environment. The internal environment is affected by the organization’s management policies and styles, system and procedures as well as employee attitudes. The external environment is affected by political, social, technological and economic stimuli outside of the organization that causes changes (Benowitz, EA, 2011). Why do organizations change? Organizations change for many reasons but there are six broad forces that bring about change: workforce changes, such as diversity; technology changes, such as mobile computing; economic changes, such as stock market fluctuations; competitive factors, such as mergers and......

Words: 2351 - Pages: 10

Business Organizations

...1. Three forms of business organizations are sole proprietorship, partnership and corporation. The sole proprietorship is the least regulated of the three. One person who keeps all of the profits owns it. The owner is also financially responsible for the business and its debts because there is not a division between personal and business assets and income. The life span of this type of business is limited to the life span of the owner and the owner’s own assets limit the amount of equity that can be raised. This can really limit the business, as it may not be able to seek new opportunities due to lack of funds. A partnership is a type of business similar to a sole proprietorship but is owned by two or more people. The owners have unlimited liability still, but it is shared. There are a few types of partnerships. In a general partnership the owners equally share the profits and debts. Each partner can be held accountable for the other partner’s decisions and actions relating to the business. When a partner wants out of the business or dies, then the company is terminated. In a limited partnership one or more of the owners is not involved in the day to day activities of the business. Their liability is limited to the amount they invest in the business. If the limited partner wants to get out their share can be sold to a new partner. In each type of partnership, the way the assets and debts are separated is dictated in the formal partnership agreement. The advantages and......

Words: 630 - Pages: 3

Business Organization

...Business Organization A joint-stock company is a partnership or corporation between two parties. An electronic company has stocks that are issued to each party in the company in return for each contribution. The shareholders are allowed to transfer or sell their investment at any point in time by selling their stock to another party. A limited liability Company is when the investors are only limited liable in case the business or the investors that were invested in go bankrupt. Creditors can only take what each investor has initially invested. If Joe invested into a company and the company went bankrupt after five years, because the company was an LLC, the creditors can only take what Joe has initially invested into the company. A partnership is when a group of professionals come together with their ideas to create one company. The people who own this type of company are the ones who are both the owners and the stockholders for the company. Each member owns a percentage of the company. If Jon, Jane and Mike open up an antique store, each party would own an equal percentage such as 33.3% of the company. Jon would be in charge of accounting, Jane would be in charge of supplies, and Mike would be in charge of marketing. A sole proprietorship is when it is a business owned by only one person. The person would be in charge of everything and is the only one reliable for the businesses ups and downs. If Matt was a dentist and wanted to open his own local dental business, he......

Words: 297 - Pages: 2

Business Organization

...Business Organization Martin Castro University Of Phoenix BIB/220 Table of Contents Title Page ……………………................................................................................... 2 Introduction ……………………………..................................................................... 4 Types of Organizational Information Systems. ……...................................... 5 Benefits of the Information Systems ………….................................................. 5 Drawbacks of the Information Systems ………............................................... 6 Proposed Actions ……………………………….......................................................... 6 Closing ………………………………........................................................................... 6 References ………………………………..................................................................... 7 Business Organization The Toy Store will offer solutions in finding the toys that customers have enjoyed for years and viewing them. The store will have worldwide providers that focus on hard to find antique toys for viewing in store and online and purchases. Information systems will provide a way to transfer the critical information to place orders with providers and in the right format to satisfy each customer. This system can be used to develop many diverse areas, plan, and manage the daily operations......

Words: 837 - Pages: 4

Business Organization

...Business Organization In a joint-stock company, an entrepreneur raises capital by issuing stock certificates of its ownership. This normally involves selling shares of the stock to investors that guarantee them the right to a certain percentage of the company’s profits. Such companies include those that allow workers to invest in a 401k, which is beneficial to them. A limited liability company is a legal system that prevents creditors from seizing the personal wealth of a company’s stockholders to pay a company’s debts. If a company goes bankrupt, its creditors cannot seek the person’s wealth of its stockholders for reimbursement. This means that only the money the stockholders have initially invested in the business is at risk. An example of this is if a photographer at a photo shoot leaves a cord in the way and a customer trips over it, only the company would be sued and the photographer’s home, car, and assets are protected (Johnston, 2012). A partnership company is two or more skilled professionals who agree to pool their talents and capital to establish a company in which they are the stockholders and owners. An example of this would be an individual opening a clothing store and have partners who invest and have different skill areas such someone who does designs, someone to promote etc. A sole proprietorship is a non-incorporated business entirely owned by one person. A sole proprietorship is the simplest form of business organization to start and maintain. Such......

Words: 288 - Pages: 2

Business Organization

...Business Organization Melanie Smith BUS/210 June 01, 2014 Shane Wenttz Business Organization Mamma Mel’s company structure will be that of a sole proprietorship. A sole proprietorship is one of the most common and simplest company structures to form as it is a one man, or in this case, one woman operation where in the owner (me) takes on all aspects of operating the business including all associated risks and liabilities. Some of the advantages to operating as a sole proprietor include inexpensive to form with legal costs being limited to obtaining necessary licenses and/or permits, Simple tax filing, tax rates are low and the business is not taxed as a separate entity and the owner of the business retains complete control of every aspect of the business. As with all business structures along with the advantages there are disadvantages as well for the sole proprietor these include difficulty raising funds due to the liability to sell stock, unlimited personal liability and the Heavy burden of maintaining profitability. A Business Model refers to the means and the methods used for the successful operation of a business indicating how the business will convert inputs such as labor and capital into outputs that will yield a profit for the business. Mamma Mel’s business model for the food truck will be a straightforward approach of providing fresh, handmade food items as quickly as possible. Once business increases and I am able to locate retail space I will......

Words: 396 - Pages: 2

Bus 210 Week 2 Checkpoint Business Organization

...BUS 210 Week 2 CheckPoint Business Organization Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/bus-210-week-2-checkpoint-business-organization/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) BUS 210 Week 2 CheckPoint Business Organization CheckPoint: Business Organization Resource: Ch. 2 of Introduction to Business Describe a business scenario, either real or fictional, that depicts each of the following forms of business organization: Joint-stock company Limited liability company Partnership Sole proprietorship Your response should be 200-300 words in length. BUS 210 Week 2 CheckPoint Business Organization Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/bus-210-week-2-checkpoint-business-organization/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) BUS 210 Week 2 CheckPoint Business Organization CheckPoint: Business Organization Resource: Ch. 2 of Introduction to Business Describe a business scenario, either real or fictional, that depicts each of the following forms of business organization: Joint-stock company Limited......

Words: 1639 - Pages: 7

Business Organization

...Management plays a substantial role in how business operates. The variety of methods to the speculative and practical background of management has come up with varieties of what is meant by such key words as management and organization. The required reading outlines three key elements needed in the successful running of a business. The three key elements are Information and decision making, planning process and techniques and strategy and strategic management. The reading covers a general outline of the elements required for a manager to make familiar decisions among alternate courses of action. The reading also lists types of managerial decisions, information competency, and information needs in organization, why managers plan and the planning process and benefits of planning. In the following I will describe the various components that comprise the main aspects of the required readings. Information, technology and management. Information is basically data that is used when made meaningful in the decision making process. The reading shows how valuable and useful data is and that it is accessible by everyone but not everyone makes data that is readily available to them useful information. When we are able to gather, analyze and use information for decision making and problem solving this is called information competency. In order for companies to have top performance employees should have the right information available to them. The reading outlines information systems.......

Words: 873 - Pages: 4

Organization Business

...structure consists of self-contained divisions. A division is a collection of functions which produce a product. It also utilizes a plan to compete and operate as a separate business or profit center. According to Zainbooks.com, divisional structure in America is seen as the second most common structure for organization today.[citation needed] Employees who are responsible for certain market services or types of products are placed in divisional structure in order to increase their flexibility. Examples of divisions include regional (a U.S Division and an EU division), consumer type (a division for companies and one for households), and product type (a division for trucks, another for SUVS, and another for cars). The divisions may also have their own departments such as marketing, sales, and engineering. The advantage of divisional structure is that it uses delegated authority so the performance can be directly measured with each group. This results in managers performing better and high employee morale.[citation needed] Another advantage of using divisional structure is that it is more efficient in coordinating work between different divisions, and there is more flexibility to respond when there is a change in the market. Also, a company will have a simpler process if they need to change the size of the business by either adding or removing divisions. When divisional structure is utilized more specialization can occur within the groups. When divisional structure is......

Words: 352 - Pages: 2

Business Organization

...Business Organization George Amaro BUS 311: Business Law I David MacKusick July 11, 2016 Business Organization When the decision is made to start a business the next step is to decide on the type of business entity is to become. This decision is an extremely important one and can have lasting repercussions if all of the details of each business type are not known. Deciding on what type of business entity to have one will have to look at the different types of business structures and then decide accordingly. There are vast differences between the sole proprietorship, partnership, limited liability company (LLC), and corporation and understanding each is vital. A sole proprietorship is a business entity that is solely dependent upon only one owner. Once a business plan is made and the proper licenses have been obtained from the state that the business will be in the business entity has been formed. There are no other formalities or no other expense attached to the formation of this business entity (Rogers, 2012). Although this seems straight forward there are major downsides to a sole proprietorship. Two such downsides are those of taxation and liability. As a sole proprietor, you the owner and the business are considered one and will not be taxed separately; the sole proprietor would be responsible for the payment of all taxes, to include self-employment (U.S. Small Business Administration, 2015). Due to this small fact the sole proprietor would be......

Words: 1415 - Pages: 6

Business Organization

...Business Organization Megan Jutras Bus 210 January 26, 2012 Karla Rogers Business Organization There are various forms of business organizations, such as joint-stock companies, limited liability companies, partnerships, and sole proprietorships. The following are examples of business scenarios for these four organizations. First, a business scenario of a joint-stock company would be a banker, who along with other bankers, which invest some money into an entrepreneur’s up-and-coming company. The banker would then receive stock in that venture (such as a shipping company). All the bankers, along with the entrepreneur, would share the company’s stock, thereby making it a “joint-stock” company. Secondly, a well-known limited-liability company would be Microsoft. Microsoft began as this type of company, which prevents creditors from seizing the personal wealth of Microsoft’s stockholders to pay the company’s debt. If Microsoft goes bankrupt, its creditors cannot seek personal wealth of its stockholders for reimbursement. Only the money stockholders have initially invested in Microsoft is at risk. Thirdly is partnership, which would be a dental office with two licensed dentists who partner together. They agree to pool their talent and resources by establishing the company in which they are the only stockholders and owners. The last business scenario is sole proprietorship, which would be my grandfather’s electricity company. This is a non-incorporated business entirely......

Words: 300 - Pages: 2

Business Organization

...ASSIGNMENT 1 All organizations have a management structure that determine illustrates the level of management and relationship between each other for function and position, authority, responsibility to carry out the job. Diagram 1: The organization Pyramid a) Top management includes the role of President, Vice President, Chief Executive Officer, Chief Financial Officer. They responsible in all of the performances and effectiveness of an organization. Their job is to establish policies, set strategy, approve all decision and represent the company in dealing with other organization or government body. They do have all the authority of making decisions. b) Middle management is also known as plant manager, operation manager and division manager. Middle management usually follows and implements the strategies, policies, and decisions that made by top management and implement it. Their responsibilities are to coordinate first line manager to achieve departmental objectives. They also perform as a linkage between top management and first line management. c) First line manager represents by supervisor, office manager. Their job is to operating, working with supervising and also to coordinate the working efficiency of the staffs who under them. Differences between a leader and a manager The biggest different of manager and leader is the way they motivate the people who follow or work with them. Firstly, Managing is about efficiency and leading is about......

Words: 4406 - Pages: 18

Business Organizations

...Theories can be applied to a variety of things, and compared to individual, group and animal behaviors. After reading Adler, Mech and Morgan, it is possible that the relationship between humans and animals is very similar when we talk about organizations. In the book Images Of organization, Morgan suggests that we live in an “organizational” society and that organizations influence our every waking hour. And although this is very obvious, one has to wonder why people build their lives around organizational behavior. Examples of this would be, taking time off from work, going to work five times a week or being a full time student. These are routines that each of us has in our own lives, and we all relate to them within our culture in similar ways. In The Wolf, Mech talks about Courtship and Mating in wolves. I compared this reading to Morgan’s because in many ways it relates to culture. “Courtship and mating in the wolf are intimately related to each animal’s year –round ties with other members of its pack” (Mech pg. 111). This clearly shows the reader or whoever is studying wolves that this behavior occurs within the culture of the pack and how similar this behavior is with other animals living in the wild. Culture and organization played in my work life. I used to work at a grocery store and everyone one on the team had similar duties, especially the cashiers. We were pretty much programmed to say the same things, and if we forgot to ask the customer for their......

Words: 1984 - Pages: 8