Types Of Business Organizations Essay

2228 words - 9 pages

University of PhoenixBusiness Law BUS/415March 30, 2009Sunshine's Sports Bar and GrillIntroductionThe goal of Sunshine's Sports Bar and Grill is to offer a fun family environment while catering to a wide variety of sporting events. We offer a sports bar environment with family restaurant style. Sunshine's Sports Bar and Grill offers full lunch and dinner menu, alcoholic and non-alcoholic beverages, weekly sporting tournaments, Private Party Area, Special Viewing Events and much more. Sunshine's Sports Bar and Grill target customers are families, men and women ages 21 and above. Sunshine's Sports Bar and Grill is 94 ft long and 50 ft wide and has more than 20 High Definition projection screen T.V.'s each equipped with their own surround sound area for that real life, at the game experience. Sunshine's Sports Bar and Grill specialty is that dining areas are dedicated to a different sport genre and are separated by a pelxi glass partition. This aspect allows customers to feel as if they have stepped into a special bar and grill dedicated to the sole sport of choice while not being forced to only view that sport.Difference of Business Organizations TypesAs the venture of opening the Sunshine Sport's Bar and Grill gets underway, one major area of concern is whether the business should operate as a sole proprietorship, a partnership, a corporation or a LLC. Sunshine Sport's Bar and Grill is a part of a franchise which in turn makes it part of a corporation. Though the business itself is part of a corporation the individual assembly of ownership of this particular venue can still fall under one of the four various types of business ownership. By taking a look into the four types of business organizations a determination of which type of ownership best suits this business venture.Sole ProprietorshipThe first business organization type to be explored is Sole Proprietorship. A Sole Proprietor business is run by one person and is considered the most dangerous of all the business organizations ownership styles. The business and personal assets of this type of owner are 100% at risk. This is because a sole proprietor is responsible for all aspects of the business good and bad, however, when it comes to small business ventures the Sole Proprietorship is the number one way most small businesses are started. In a business such as Sunshine's Sport Bar and Grill this type of ownership is not feasible. The business venture is to vast, even with the aid of the business being a franchise buy-in. Though the risk is less for a sole proprietor joining a franchise, the investment can still be very large and for most first time business owners a venture such as buying into a franchise would be more stable if a partner was involved.PartnershipsThe Partnership business organization is a when two or more people enter into business together for the purpose sharing ownership of a single business. This business organization style is a bit more complex then the Sole...

Find Another Essay On Types of Business Organizations

The Types of Business Ownership Essay

1265 words - 5 pages The Types of Business Ownership This report is about the advantages and disadvantages of different types of business ownerships. Introduction I am going to write about the advantages and disadvantages of different business ownerships including: * Sole Trader * Partnership * Franchise I will include the definitions of some of the business ownerships. Main Body SOLE TRADER

Types of Business Ownership Structures Essay

611 words - 3 pages There are four basic types of legal business ownership structures. These are sole proprietorship, general partnership, limited liability company, and corporation. This paper will outline the characteristics of each and provide an example for reference. A sole proprietorship is formed when one person owns and operates a business on his or her own and is relatively easy to start. (Shah, 2011) A sole proprietor can create their business by

An Explanation of Different Business Types

1277 words - 5 pages have declined over the years but still 10% of all business firms in the United States still exist. Partnership agreements are drawn up in case if a partner dies to include profits and losses, duties of partnerships, manners of controversies and how they will be settled to divisions of assets. Types of partnership include a general partnership which has very active partners and assume responsibility for the firm. Limited partners include invest

Evaluating The State Of Leadership Training In Today's Business Organizations

4272 words - 18 pages Evaluating the State of Leadership Training in Today's Business OrganizationsAdult education has taken on many forms in recent years. The factors that affect participation, whether formal or informal, are being considered by organizations around the country when creating opportunities for continued learning. An area of adult education that has sparked interesting discussions is Leadership Training.The purpose of this paper is to examine the

Critical Analysis of SAP Systems Adoption in Business Organizations

1831 words - 8 pages for marketing and sales and production and inventory control. Having all these modules combined in one software of which to some extent can be modified to fit the business targets, SAP ERP software collects, combines, analyses and generates data from the separate entities as one collective report that can easily be read and understood. The single generated report enables organizations or companies to have definite planning and overall scheduling of

The title of the essay is "Business Ownership" The question was: Name the three different types of Business ownership and name the advantages and disadvantages of each form

1591 words - 6 pages sells to gain capital, the more control he/she is losing. This could be a big problem and amount to a great loss of control for the founder if he/she needs a large capital infusion.Lastly, the profits of the corporation are widely distributed. People all over the world can obtain shares on the corporation, and therefore receive dividends from the corporation. Therefore the profits are widely distributed among all the shareholders.As you can see from the information I have given, there are three major types of business ownership. All of these types have their advantages and disadvantages, so it depends on what you decide is better for you in starting a business.

Business: Differnt Types of Segmentation

614 words - 3 pages segmentation. If a restaurant is in a central location of a busy place, then it can get more customers. So we have given 40% weightage to location aspect. Not only people in downtown we also targeted nearby college students from fanshawe college and western university. Hence we have given the next priority to market size which amount to 30%. Market density has 20% weightage because we can’t give any assurance that downtown residents and business people

Different Types of Business Presentations

586 words - 2 pages A group of CEO's all earning over 1 million dollars, a group of corporate employees who were all earning over 1 million dollars:The presentation would be more sophisticated, informational, and as in depth as possible. The CEO's most likely already know the material and are just freshening up on it. It would be more formal and to the point, but the presentation would cover the wide aspect on the topic. I would be very respectful and wait until

Business studies GCSE coursework 1 Types and styles of business's

707 words - 3 pages Payment'. Many high street name are Franchises: Benetton, Mc Donalds and Pizza Hut.AdvantagesA franchisee benefits from having an already well-established brand name, and bank's are more likely to lend money to franchisee's because of this. This position is much more reliable than being a sole trader.DisadvantagesA franchisee has very limited independence and is ruled by the franchisor. The business cannot be sold, and regular 'Royalty Payments

The different structures, designs, and types of a business

3141 words - 13 pages ad hocbase matricialorientadas a servir clientes o a la empresa en si mismabuscan la solución a un problema planteadoInternet y la estructura de las organizacionesE- businessEl e-business consiste en el uso de internet para transformar los procesos de negocios tradicionales y hacerlos mas eficientes. Una de las tareas principales del e-business es integrar las distintas actividades, funciones o departamentos que antes trabajaban separadas

Business Management questions and answers

635 words - 3 pages 1. What is the fundamental goal of business? Do all organizations share this goal?The fundamental goal of business is to earn a profit. Not all organizations share this goal because they are nonprofit organizations.2. Name the forms a product may take and give some examples of each.The forms a product may take are tangible and intangible. Tangible goods are computers, clothing, automobiles, and food. Intangible goods are services or ideas made

Similar Essays

Types Of Domestic Terrorist Organizations In The United States

1414 words - 6 pages “the unlawful use, or threatened use, of force or violence by a group or individual based and operating entirely within the United States or Puerto Rico without foreign direction committed against persons or property to intimidate or coerce a government, the civilian population, or any segment thereof in furtherance of political or social objectives”. (FBI, 2005) Today the FBI lists five types of domestic terrorist, the first being the lone

Organizations Of A Business Essay

2213 words - 9 pages Organizations of a Business My employer for the last 4 years has been Scottish Enterprise Borders. Using this organisation as a case study will allow me to demonstrate that I have a clear understanding of how business organisations are structured. Scottish Enterprise Borders has a mission statement that very clearly communicates to staff, stakeholders and our publics what we do. 1. "Our purpose is to help the

Six Formd Of Business Organizations Essay

2846 words - 12 pages TASK A The following are six forms of business organizations. Each form includes a description of the form and its key characteristics, advantages and disadvantages with respect to the following categories: Liability, Income taxes, Longevity, Control, Profit retention, Location (Expansion) and Convenience. (a1) SOLE PROPRIETORSHIP: An unincorporated business with a single person as an owner. Generally the sole proprietor acts as chief

Social Responsibility Of Business Organizations Essay

603 words - 2 pages Social Responsibility of Business Organizations Social Responsibility, some may say it is an organization’s duty to behave in an economically and environmentally sustainable manner. Well, there is more to it than just that. There are four key theories or guidelines that must be followed to maintain a status of good social responsibility. A company has one a duty to its shareholders, two the duty to maximize profit and avoid harm, three a