Sole Proprietorship vs. General Partnership vs. Corporation :: essays research papers

A sole proprietorship is a type of business that is owned and operated by one person who is responsible for all the debts. Forming the business is really easy to start off with. Also the owner receives all the profit from the business and is his or her own boss. The down side to owning a sole proprietor business of your own is it is really hard to find sources for funding the business for it to grow and expand. An example of a local proprietor business is Martha’s Kitchen. Martha’s kitchen is a really small restaurant on the outskirts of town. Martha chose to open a diner at her location because it is joined with a gas station and it is in a remarkable location for a restaurant business. Martha’s kitchen is open from 5:30 a.m. to 11:00 p.m. She serves the best peach cobbler around. A general partnership is when two or more persons decide to share the responsibility of operating a business together. The partners are also equally responsible for all the company debts incurred by each partner. The combined partners in the business allow the business to grow very easy because it is very easy to find sources for funding and investors. The biggest disadvantage that a general partnership has is the difficulty of transferring ownership or selling out because of having the consent of the other partners. An example of a local general partnership is Rest My Friend Lawn Care. The lawn care business originated as a sole proprietor but now it is a family business with several partners. Blake, Larry, and Tracy chose this type of business because they were able to invest in the business and to this day they are making a great profit out of the business. Corporations are the biggest type of business out of all three. Corporations are considered to be separate from the owners and they are liable for their own debts. When investors invest in a business they are held liable for only what they invest in the company in event of failure.

High School and Selecting Main Ideas Essay

My 3 highest scores are: Information Processing (85), Study Aids (95), and Time Management (60).The 3 areas I scored the lowest on are: Attitude (5), Motivation (5), and Selecting Main Ideas (20). I’m going to work more on my attitude, because it’s important to me that I graduate and get the degree in the career that I want to purse, so that I can prove to all the people who told me that I wouldn’t be nothing, or had doubt in me, because my parents didn’t finish High School, nor graduated. Motivation is probably one of the hardest one for me, because I’m a huge procrastinator, especially when it comes to math, which is the subject I dislike the most. I think if I’m motivated to do the math I will get better grades. I think it’s going to happen because Mr.Norrgran makes it interesting, he tends to joke around to wake us up if we’re not participating, or shows us little tricks so we can get the problem better. On Selecting Main Ideas, the reason why I got a 5 is because when writing notes down, I tend to write everything, even though it’s not needed. The reason why I do that is because to me, if I don’t write everything down, I always have this voice in the back of my head, â€Å"What if that word, sentence, vocabulary is in the test† something like that, so I feel better if I just write it ALL down, just in case it’s use full. I think it’s an OCD habit. At the end of the fall semester, I hope to have my attitude at 100, motivation 100, and main ideas 100, because I know that will make me a better student on achieving my goals, to prove to not only those who would shut me down, but to prove to myself.

Groups and Teams Essays - 1092 Words

Groups and Teams Groups or teams can evolve into high performing, extremely effective, useful tools in any organization if developed and managed correctly. Demographic characteristics and cultural diversity can impact the behavior of groups or teams in positive and some negative ways. Diversity may impede the initial progress of a group; however, the long range benefit to creating high performing teams is great. An effective group is one that achieves high levels of task performance, member satisfaction, and team viability (Schermerhorn, Hunt Osborne, 2003, p. 2). A team or group is two or more people working together to achieve common goals. Members of a group are usually dependent on each other and have regular†¦show more content†¦The norming stage is about harmony and balance, especially after storming. The performing stage is when the group is finally able to handle complex tasks and achieve goals. Adjourning is the last stage of group development. It occurs after the group has achieved all of its tasks and goals and disbands. Not all groups or teams advance through all of the stages of the cycle to reach the performing stage or adjourning stage. To reach these final stages they must have strong communication and development skills. Highly effective groups have strong management. To achieve and maintain high levels of group effectiveness, any manager or leader must understand the way groups operate as organizational resources (Schermerhorn, Hunt Osborne, 2003, p. 10). Effective groups have clearly defined goals and guidance from management. They are given the resources to complete their tasks and a successful group is rewarded. High performance groups excel at teamwork and attain special performance levels. They have strong core values, a general sense of purpose, performance objectives, and a good mix of skills and creativity. An effective team manager will communicate standards, create a sense of urgency, gather the right skill set and establish clear rules for behavior. They can also share new information frequently, give positive feedback and reward any successes. Homogeneous groups will get along, work well together and can be somewhat effective. However they are limitedShow MoreRelated Groups and Teams Essay1099 Words   |  5 PagesGroups and Teams The forming, storming, norming, performing model of team development was first introduced by Bruce Tuckman in 1965. He argued that these phases are all necessary and inevitable for the team growth, overcoming challenges and tackling problems, finding solutions, planning work and delivering results. Tuckman later added a fifth phase, adjourning, which is referred to by some as the mourning stage, which involves completing the task and breaking up the team. (Wikipedia, 2005)Read MoreSmall Team and Group1154 Words   |  5 PagesSmall Team and Group James Findley III COM/100 January 16, 2012 Keith Butler The company I work for is a telecommunications company called Sprint-Nextel, and we work on countless team projects throughout the year. One example I remember in particular is when a brand new store was set up in our area. This new store set-up included roughly 10 team members whose sole purpose was to plan, create, and design a store that fits the mold of all existing corporate stores. This is a very importantRead MoreGroup and Team Development2760 Words   |  12 PagesThe Customer Services Team handles all inbound calls for the business (1000+ per day) and operates from 08:00 to 20:00 Monday to Saturday. There are fifteen team members two of which are Team Leaders. The Team is further divided into different sub-groups that deal with different business sectors such as Pharma, Telecommunications, e-commerce. 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