• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Business Organization in the United States.

Extracts from this document...

Introduction

Business Organization in the United States In the United States there are many business organizations. The most common form of business organizations are sole proprietorships, partnerships, and corporation. Sole proprietorships: In the United States the sole proprietorships is the most common form of business organization. Sole proprietorships are the business that have one person who own and mange the business, although the majority of business organizations in the United States are the sole proprietorships, which are the smallest business in size (brampton-business.com). Also they are relatively the most profitable. It is very easy to start a business like sole proprietorships and there are unlimited ways to start and exist this business. For example, you could start a sole proprietorship by going to the beach and in the summer and sell mineral water to people. Someone else might decide to buy a farm and sow seeds then harvest the crops and sell it to the market, or open a restaurant. Economic strength: 1. It is very easy to start sole proprietorships. 2. It is very easy to mange a sole proprietorships. ...read more.

Middle

5. Sole proprietorship is limited life and that means if the head of the organization die, retired, or sell the business, the organization itself will be endanger or end (enterprisesoutheast.ca). Partnerships: Partnerships are the businesses owned by more than one person. They are similar to sole proprietorships in strengths and weaknesses. There are many types of partnerships but the most common two are: General partnership: one person is the manager and he responds for all business (brampton-business.com). Limited partnership: at least one partner is not working in the daily running of the business (brampton-business.com). Economic strengths: 1. It is easy to establish and manage it. 2. It can usually attract financial capital more easily than proprietorship. 3. It is always larger in size than proprietorship. 4. It can attract top talent more easily than proprietorship (economic). 5. It will have more benefit of more than one person working the business "two or more heads better than one". (learnthat.com). Economic weaknesses: 1. Each partner is fully responsible for the acts of all other partners. If one of the partners steals, does illegal work, or cause the firm to lose a huge amount of money, each partner is fully responsible for the loss. ...read more.

Conclusion

3. A corporation has limited liability, which means the owners are not responsible about the firm but the corporation is fully responsible for its debts and obligations. 4. A corporation has unlimited life, which mean that business continues to exist even when ownership changes (enterprisesoutheast.ca). 5. It is very easy to transfer ownership. If a person owns stock in a corporation and he does not want to be an owner he can the stocks to another person and this person becomes an owner (tenonline.org). Economic weaknesses: 1. It is very difficult for having permission to open corporation, there are more requires, and more paperwork and record-keeping than sole proprietorships (energiebp.com). 2. The owners have a little control or less freedom of activity on the business, and they cannot make any decision in the corporation because most investors are willing for getting dividend. 3. Taxes of corporations are more than other business organizations (enterprisesoutheast.ca). 4. It is very complicated to establish corporations because it too expensive and it will need a long time (enterprisesoutheast.ca). To summarize, sole proprietorships, partnerships, and corporations are the most common business organizations in the United States but corporations are the most profitable organization and the most complex one. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Business Studies Edexcel Coursework

    It is my rendition of a rough idea as to how Errol's questionnaire should be in terms of content and appearance. Blank Questionnaire Questionnaire Graph 1 Graph 2 Graph 3 Graphs Analysis Evidently, from the bar graph, more people prefer to use the Internet as a form of media.

  2. Business Studies

    how much the business makes after paying for the cost of goods sold > Net profit ratio works out for every $1 of sales how much net profit the business makes after paying all expenses > Return on owners equity works out how much income the owners receive from their

  1. Importance of Human Resources Management

    Equal Pay Act 1970 (EPA): The Equal Pay Act 1970 (EPA) gives an individual a right to the same contractual pay and benefits as a person of the opposite sex in the same employment, where the man and the woman are doing an equal amount of work.

  2. Is it a sound business decision to locate a Coffee Republic franchise in Finchley ...

    Yes No Please give reasons for your answer This will help me conclude whether Finchley Central would be a sound place to locate a new Coffee Republic franchise in. If the majority say yes, then it would indicate a good business decision.

  1. The Effects of Non-monetary Incentives on Employees

    ?v?n th?ugh th? th?ught ?f ? c??h b?nu? m?y b? ?m?ti?n?lly ch?rg?d ?? w?ll, th? ?c?n?mic v?lu? ?f m?n?y i? m?r? ???ily c?lcul?t?d. Thi? m?k?? ? c??h ?w?rd l??? pr?n? t? th? bi???? which infl?t? th? p?rc?iv?d utility ?f ? h?d?nic n?n-m?n?t?ry ?w?rd. Wh?n ?n it?m i? ?v?lu?t?d ?n it? ?ff?ctiv? v?lu?, it? pr?dict?d utility i? ?l?? m?r?

  2. PPF Economics

    However the resources are limited as there is only a limited amount of doctors, treatments and appointments available to offer in contrast to the number of people in demand for them therefore this shows the concept of scarcity. The resources are scarce while the wants are infinite and consequently representing the basic economic problem.

  1. Business enterprise and Entrepreneurship.

    rates of growth will need to be maintained by making treatments more affordable and accessible. Champneys (health farm) for example, established a partnership with Sainsbury's in 2004 for its spa products, a move which has enabled consumers to become more familiar with the brand.

  2. Analysis of Benefit-Target Corporation

    energetic environment that delivers a consistent experience for both team members and guests"; and human resources, which works to support the mission of staffing, development, retention, and brand management. Corporate career opportunities include strategy; which works to consider guests' comments and suggestions and propose business strategies that will improve the

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work