Signature Assignment: Different Forms of Business Organizations, business and finance homework help

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Question Description

Purpose of Assignment

The purpose of this assignment is for the student to understand the different forms of business and how they compare while fitting into the American economy.

Assignment Steps

Use the current US based business you selected in Week 1.

Create a 1,400-word analysis discussing the following information:

  • Discuss the different forms of a business organization.
  • Explain the advantages and disadvantages of the different business organizations and how entrepreneurship impacts each of the organizations.
  • Explain what form of business organization your chosen business falls under.
  • If your chosen business is considered a small business, review the role your chosen business has in the American economy.
  • If your chosen business is not considered a small business, review the impact small businesses have on your business' strategy.

Cite at least two references, at least one of which must come from the University Library.

Format your paper consistent with APA guidelines.

Unformatted Attachment Preview

Business Strategy Worksheet BUS/212 Version 2 University of Phoenix Material Business Strategy Alexander Melendez BUS/212 Jason Clark August 21, 2017 Copyright © 2017 by University of Phoenix. All rights reserved. 1 Business Strategy Worksheet BUS/212 Version 2 The business environment is a combination of external and internal factors which affect the operation of a business. The five main elements of business environment include (Hamilton & Webster, 2015); • Economical Environment This environment consists of income level, gross domestic product, per capita level, employment rate, profit earning rate, the fiscal and monetary policy of governance. The economic environment assists businessmen in scanning economic environment so as to look for actions to deal with these factors. • Social Environment These factors consist of traditions and culture of the society surrounding the business. It includes education level, standards of living, taste, and preferences of the community members within the business surroundings. Social environment assists the business to strengthen its relationship with the society hence enjoying trust, goodwill, and loyalty. • Political Environment It constitutes the factors which are connected to the government affairs like policy changes, type of the governing power as well as the attitude of government towards the society. These factors have a great effect on business transactions thus a businessman has to be keen on them. • Legal environment This environment is comprised of various laws and regulations which are passed in Parliament. They assist the business in operating within the set laws and regulations within the Copyright © 2017 by University of Phoenix. All rights reserved. 2 Business Strategy Worksheet BUS/212 Version 2 country. • Technological environment These are the changes which occur in the production method, use of machines so as to improve the output as well as the quality of the product. The technological environment assists the business to remain in a competitive market. Consumer goods are the goods bought by consumers for their own use. There are four classes of consumer goods (Grant, 2016); • Convenience goods These are the goods which consumers buy regularly without great buying effort. They include fast food and drinks, detergents for laundry as well as magazines. They are generally low priced. • Shopping goods They are the goods which consumers generally compares on features like price, quality and the style when selecting and buying. They may include furnitures, airline services, and clothing. They are distributed through few outlets. • Speciality products These are goods which have unique feature or brand for which a given group of customers is willing to buy. They include designer clothes, specific cars and high, priced equipment. They are less compared to each other. • Unsought products Copyright © 2017 by University of Phoenix. All rights reserved. 3 Business Strategy Worksheet BUS/212 Version 2 These are the goods which consumers are not aware of or they are aware but they purchase them under specific conditions. A good example is the life insurance. Considering the case of Starbucks Corporation, the company mainly operates on the convenience goods. This is because Starbucks Corporation mainly deals with coffee in the United States. From the above discussion, convenience goods are usually bought without great purchasing effort and they are usually low priced. Brand equity and loyalty is usually based on the customers as well as on the finances of the company. In the case of Starbuck, brand equity and loyalty have been essential for the success of the company because they have added financial value as well as customer value. A reverse effect of the brand equity could happen after the Chinese criticisms that the products of Starbucks are very expensive or featuring that Starbucks does not pay tax. Customers could then give a negative picture to Starbucks demeaning the value represented by the company. Generally, it is considered that the brand which has positive equity has high strategic worth as well as a strong consumer preference (Grant, 2016). If the company fails to respect one’s values it can lead to damage of the consumer preference and thus loss of the competitive advantage. Brand equity and loyalty are intensely related to the customer management and it usually observed that a company which has a strong and good brand equity and loyalty have many fans ready and willing to support the given company together with their products or services. The break-even analysis involves calculations as well as examination of a margin of the Copyright © 2017 by University of Phoenix. All rights reserved. 4 Business Strategy Worksheet BUS/212 Version 2 safety for a given organization based on the collected revenue and the related costs. In analyzing different levels of price which relate to numerous demand levels, an organization uses the breakeven analysis in finding out how many sales are needed so as to cover the fixed costs. are would then give the Economic an insight on the selling abilities. The break-even concept it is usually concerned with the contribution margin of a given product. This margin is defined as the difference between the selling price and the total variable cost. The fixed costs are not considered when dealing with contribution margin. The main goal of a business which is non-profit is not to earn any profit but to offer suitable service with less human as well as physical services (James & Rose-Ackerman, 2013). Generally, nonprofit organizations operate so as to break-even meaning that the revenue has to be equal to the costs in the short run. none, the nonprofit organizations cannot survive without experiencing persistent deficits. Copyright © 2017 by University of Phoenix. All rights reserved. 5 Business Strategy Worksheet BUS/212 Version 2 References Grant, R. M. (2016). Contemporary strategy analysis: Text and cases edition. John Wiley & Sons. Hamilton, L., & Webster, P. (2015). The international business environment. Oxford University Press, USA. James, E., & Rose-Ackerman, S. (2013). The non-profit enterprise in market economics. Taylor & Francis. Copyright © 2017 by University of Phoenix. All rights reserved. 6 ...
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Tutor Answer

elkaydor
School: Purdue University

Hi. Please find attached the completed work in a Word document below. Let me know if it is satisfactory or if you need further work done on it. Thanks.

Running head: FORMS OF BUSINESS ORGANIZATIONS

Student Name
Signature Assignment: Different Forms of Business Organizations
Course Title
Instructor’s Name

1

FORMS OF BUSINESS ORGANIZATIONS

2

DIFFERENT FORMS OF BUSINESS ORGANIZATIONS
Introduction
A business organization refers to an individual, or a group of persons that co-operate to achieve
specific commercial objectives. This paper aims at outlining the various forms of business
organizations, their advantages, disadvantages, and the manner in which entrepreneurship has an
impact on each form. The paper further looks at form of business organization in which
Starbucks falls under and the impact of small businesses on the business strategy.
Forms of Business Organizations
There are three main forms of business organizations: Sole-proprietorship, Partnership and
Corporations.
1. Sole-proprietorship
This form of business is owned by a single individual who finances the capital needed.
This is a very common form of business and because not only is it simple to start, but
also faces the least form of regulations.
Advantages: - The advantages of a sole proprietorship are:


Very easy to start as compared to other forms of business organizations because
the paper work required is minimal. Mostly required is a business license.



The owner gets to keep all the proceeds/profits.



Key decisions are made very fast because there are no reporting lines or people to
consult.

Disadvantages:

FORMS OF BUSINESS ORGANIZATIONS



3

The proprietor has unlimited liability for debts relating to the business. The
owner’s personal assets are at risk in the event that the business assets are not
enough to meet the creditors’ debts.



The business lacks contin...

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Anonymous
Top quality work from this guy! I'll be back!

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