section 4

Sole Proprietorship, PartnerShip, Corporation

Small business like cafes, grocery stores = Number;72% Sales;6%

Number;8% Sales;13%

Number;20% Sales;81%

Easy to start/end, Be your own boss,Pride of ownership,Leave legacy,retain profit, No special taxes

Unlimited liability, limited financial resources, difficult to attract talent, time commitment, Few fringe benefits , limited growth , limited life span

More financial resources, Shared management, Longer survival, No special taxes

Unlimited liability, Division of profits, Disagreements among partners, Difficult to terminate

More money for investment, Limited liability, Separation of ownership & management, Ease of ownership change, Perpetual life, size

Initial cost, paperwork, two tax returns, Corporate & Individual, Termination difficult ,Stockholder & Board Conflict, Double taxation, Company income tax,Stockholders

chair of JPMorgan Chase. Complaining about the board of directors . He has to move fast with decisions but the slow decision making process of the board of directors slows things down

Limited Liability, Tax Choice corp vs partnership, Flexible Ownership Rules, Flexible Profit & Loss Distribution, Operating Flexibility

No stock, Limited life span, few incentives, Income taxes levied at the individual owner's level (no corporate tax), Paperwork

Horizontal & Vertical

Assigns territory, May provide financial aid, Offers merchandise/ supplies at competitive price, Provides training/ support, Business expansion using O.P.M.

High start up cost and Shared profit

Downsizing/Rightsizing

Strengths,Weakness, Oppurinites, Threats

Show the activities of the organization, Can company deliver to customer needs and wants

Chain of Command, Rules & Regulations, Set up Function, Communication is minimal

Increased Uniformity

Lots of Policies & Procedures and Many Layers/Slower

Informed Decisions, Worker responsibility, Few Layers/Faster

Loss of control, Possible Duplication

Tall and Falt

Many Layers of Management

Current Trend, Creation of Teams

Skill development, Economies of Scale, Good Coordination

Lack of communication, employees identify with department, Slow response to external demands, Narrow specialists

Perform Functions, Contribute Directly to Organizational Goals

Advise, Assist Line Personnel

Flexibility, Cooperation & Teamwork, More Efficient Use of Resources

Costy/ Complex, Confusion in Loyalty, Requires good intrapersonal skills

Time to focus on company’s primary function, Increased level of expertise, Cost effectiveness, Decreased overhead, Risk reduction, Flexibility, Technology

Less personal approach, Less control by owner in planning implementing & carrying out company’s future, Potential for competing for the outsourcing firm’s time

the Most important thing is the customers, How can we satisfy them better than other companies( pause)

Empowered Front

Praise, Salary Increase, Status, Recognition, Promotions, Giftis

Feeling of Job Well Done, Pride, Sense of Achievement

Frerick Taylor, Gantt Charts, Gilbreths

distinguish between motivators and Hygiene(Maintenance) Factors, Motivate workers and

Make work more exciting with variety and changeS

Dislike Work, Avoid Responsibility, Little Ambition, Force/ Control/threaten, Motivated by fear & Money

Long

Set goals, and objectives to improve productivity

What is the probability that I can perform at the required level if I try?
What is the likelihood my performance will lead to the desired outcomes?
What value do I place on the outcome?

What I put into my job vs What I get from my job(Time effort, ability). Weighing the Input and output (Pay, benefits)