Tag: Partnership

BUS 311 – Choosing a Business Entity – Assignment Instructions And A Sample Answer

BUS 311 Choosing A Business Entity Assignment Instructions

If you were to start your own business, which business entity structure would you choose? Justify why your chosen structure is the best organizational form.

Explain the following business structures: sole proprietorship, partnership, LLC, and a corporation. In your analysis address the following for each business structure:

  • Steps to form
  • Personal liability for owners
  • Taxation
  • Advantages and disadvantages

Your paper must be three to five pages

 

Sample Answer – Choosing A Business Entity – Sole Proprietorship, Partnership, Limited Liability Company (LLC) or a Corporation

If a person were to start a business, that person would need to select the business entity structure that would best meet its needs. The choices are sole proprietorship, partnership, a limited liability company (LLC) or a corporation. The business owner needs to properly analyze each structure to have a good understanding of how to form the business, what the personal liability for owners is, taxation, and the advantages and disadvantages of each are so that the business can be most successful.

Sole Proprietorship

Most likely, small businesses will consider the business entity of sole propriety as the choice to start their business in. This is a simple way of starting a business. The owner owns and manages his or her own business. All the responsibilities fall on the owner as well as all the profits that the business generates. This business owner is also personally responsible for the debts, liabilities and torts.

A sole proprietorship is the simplest of the business structures to form. If you are mowing lawns during your summer break from school, you are a sole proprietor. Licenses and permits can be obtained at the state and local levels (Sole Proprietorship, n.d.). Business owners may use their own name for their business or choose an assumed name that is original. Careful thought should be given to the name to prevent any torts.

Unlimited personal liability exists in a sole proprietorship. The owner is personally liable for all debts incurred by the business as well as any other obligation that the business may be held too. For example, the student mowing lawns can be held responsible if he accidently uses a grass killer on a lawn instead of lawn fertilizer and kills the entire lawn. If business owners are not responsible in the business practices they can risk losing their entire life savings with the possibility of having to file for bankruptcy.

With a sole proprietorship, taxes are passed onto the owner and not the business. The owner will have to report his earnings using the IRS form 1040 (Hopson and Hopson, 2014). Schedule C of the IRS forms is what would be used to annotate the businesses expenses and income, then the filer would transfer the “bottom-line amount” onto the IRS Form 1040 (Sole Proprietorship, n.d., para. 5). Owners can basically file on their own with very little to no help required from a professional tax consultant.

The advantages and disadvantages of a sole proprietorship should be reviewed in order to make a clear determination if this business entity is the best fit for a business. Advantages are that it is easy to start up a business, owners have total control of the business, and preparing taxes at the end of the year is simple. Disadvantages to this business entity is that personal liability is unlimited, to include those liabilities gained from employees (Sole Proprietorship, n.d.). Being the owner and manager of a business can be very tiring leaving very little time for personal matters. Upon learning of the advantages and disadvantages, a business owner may consider a partnership.

Partnership

At times, businesses may already be in a partnership without realizing it. Partnerships are entered upon by two people that can act as a principal and an agent simultaneously (Rogers, 2012). In the partnership, it is important to understand what each partner will be responsible for. Things to consider are “how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership and how to dissolve the partnership” (Partnership, n.d., para. 2). Partnerships can be either a general partnership or a limited partnership. In a general partnership, it is most likely that all partners will have equal shares of profits, losses and liability. In a limited partnership, certain partners may be limited to their participation in the business, decision making, and even profits.

Forming a partnership requires the registration of the business with the state in which your business is located in. This can be done through the Secretary of State’s office according to the U.S. Small Business Administration website (Partnership, n.d.). A unique business name is required. Normally, the legal name is what appears on the partnership agreement and can also be the last names of each partner. Should the partners decide to operate the business under a fictitious name, then they would have to file that with the state as well. After registering with the state, the business will need to obtain the proper licenses and permits at the state or local levels.

Personal liability for owners in a partnership are identical to sole proprietorships. In this business entity, “Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners” (Partnerships, n.d., para. 16). This means that partners can be sued together or individually. Because of this situation, the partnership may want to take up business insurance that may help alleviate some of the liabilities associated with this business entity (Rogers, 2012).

Taxes are still a responsibility of the partners in a partnership. The business is not held responsible for taxes. The partnership will report income, deductions, gains, and losses from the business’s operations by filing an “annual information return” (Partnership, n.d., para. 9). Profits and losses are “passed through” to the partners by the business. The partners will be responsible to claim their corresponding share of the partnership’s profits or losses on their own personal returns. They can do this by using the information provided to them on their copy of the Schedule K-1.

Reviewing the advantages and disadvantages of a partnership can clarify if this is the business entity of choice for an organization. One advantage is that the partnership is simple to form. Partners just have to agree on the extent of their roles and responsibilities. Partners bring in their skills and form a pool in which the skills of each partner can be taken advantage of. The disadvantage is clear when it comes to liabilities. “Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners” (Partnerships, n.d., para. 16). The real disadvantage is that partners may have to utilize their personal assets to satisfy the partnership’s debt. If a partnership is not the best option for a business, then the flexible limited liability company may be the choice.

Limited Liability Company

The limited liability company is new. All members can manage the business or they may opt out in the articles of organization. According to Hopson, “An LLC takes the advantages of a corporation and combines them with the flexibility and pass-through tax treatment of a partnership, has relatively inexpensive startup costs, and is easy to manage” (P. 43). This business entity protects the members and the managers from liabilities.

Forming an LLC varies in each state. In general, owners will have to choose a business name that is unique, state that it is an LLC, and cannot use restricted words that the state puts out. There is also the requirement to file the “articles of organization” that includes the name of the business, the address, and who the members are (Limited Liability Company, n.d., para. 6). If the LLC includes multiple members, then it is recommended to file an “operating agreement” that states the “percentage of interests, allocation of profits and losses, member’s rights and responsibilities and other provisions” (para 17). Registering the business, obtaining licenses, and permits are also required at the state and local levels.

Personal liability for owners remains, for the most part, with the limited liability company (LLC). “Members are protected from personal liability for business decisions or actions of the LLC” (Limited Liability Company, n.d., para. 18). What this means is that the members of the LLC cannot be held personally liable and therefore their personal assets are protected. The LLC will have to settle its debts as well as any torts against the company.

A limited liability company is not a separate tax entity. All federal taxes are reported by each member. “Each partner receives a K-1 from the partnership detailing the individual partner’s pro rata share of each particular type of income or deduction, and the partners report each item on their individual tax return” (Hopson and Hopson, 2014, p. 46).

Even though the LLC is a relatively new business entity it has its advantages and disadvantages. The advantage of limited liability offers protections to the members of the LLC and safeguards their personal assets for the most part, except from “wrongful acts” (Limited Liability Company, n.d., para. 18). There is less paperwork and the start-up costs are not so expensive compared to an S-Corporation. A disadvantage of an LLC is that it has limited life. This means that if a member leaves, then the company is dissolved but the members must continue to close out any business obligations. Through a special provision in the operating agreement, the life of the LLC can continue in the event of a member leaving the organization. If an LLC is not the choice, then business owners can look at the corporation.

Corporation

A corporation is treated like a person. It pays taxes, it can own property, and it is “subject to civil and some criminal penalties for acts it performs through its agents” (Rogers, 2012, p. 274). The corporation is regulated by the statutes of the state that provided for its existence. This business entity is a legal person. This structure is well suited for companies that are large in size and possess multiple employees.

Forming a corporation requires a unique business name and if operating under a fictitious name that it be filed with the state. Registering the business will require articles of incorporation to be filed with the Secretary of State. The establishment of directors and issuance of stock certificates to the initial shareholders is a requirement in some states. There may be other specific filing requirements that each state may request and business owners must not neglect these additional requirements. Registering the business, obtaining licenses, and permits will also be required at the state and local levels.

A corporation offers limited liability to its shareholders. The corporation will take responsibility for business debts and actions. This can only occur if the corporation operates according the statutes of the state that provided for its existence. According to Rogers (2012), “If the corporate form of business organization is used to defraud creditors, stockholders will lose the protection of limited liability and will be held personally liable for all debts of the corporation” (p. 275). It is wise for the corporation to operate ethically so that it can afford the limited liability to its stockholders.

A corporation must pay federal, state and local taxes. They must register with the IRS and obtain a tax ID number. According to Rogers (2012), “The corporation itself is taxed on its earnings, and the shareholders are also taxed when they receive dividends or sell shares at a profit” (p. 276). Exception to the double taxation occurs in the subchapter S corporation that contains “pass through” taxation. The shareholders are the ones taxed on the earnings.

The corporation has its advantages and disadvantages as well. The advantage of the corporation is the limited liability of the shareholders. Here, the corporation is responsible for debts and the shareholders personal assets are free of risk. “Perpetual existence” is another advantage of the corporation (Rogers, 2012, p. 275). Corporations can live for as long as the current shareholders want it to live. The corporate can also raise capital through the sale of stocks. The disadvantages of a corporation are that it takes a lot of time and money to start and operate. The double taxation may not be beneficial to shareholders. Finally, the recordkeeping that is required of a corporation makes it unappealing.

The Best Organizational Form

After analyzing the various business entities, it appear as though the limited liability company (LLC) is the best option for a business owner to take up. Every business owner wants his business to succeed and in order for a business to succeed it must have a plan to grow itself accordingly. The sole proprietorship is a wonderful option if the business is small and has little to no plans of expanding. An example of this would be a business man with a local corner market that wants to earn enough income to satisfy his personal finances and no more. The partnership entity is a very risky business format that allows two or more partners to come together and share their ideas. If one of the partners has a slight disagreement with the other partner as to how to tackle a certain task, the partnership may dissolve quickly. The Corporation offers the best limited liability, but the cost of running such an entity is big. Not to mention the double taxation imposed on the earnings at the corporation and shareholder level. Plus who would want to go through so much paperwork in today’s times. The LLC offers the limited liability that protects the owner’s personal assets, requires less recordkeeping, and offers the ability of decide who earned a certain percentage of the profits and losses.

Business owners must analyze each business entity to have a good understanding of how to structure their business, they must consider the personal liability, taxation, the advantages and disadvantages that come with each entity so that the business can be most successful. A sole proprietorship is good for an owner that want to have total control of operations. A partnership allows two partners to share their ideas and become successful if they manage to stay together for the long haul. An LLC, seems to be the best option that offers a business the opportunity to be successful even after long after the original founders have left. A corporation is good for those organizations that are large in size and have many employees, but it requires a lot of maintenance. Business owners must take proper steps to strategically analyze each business entity to understand what the best option is.

Important Element in Driving Business Success In A Partnership

In a partnership arrangement, what would YOU consider to be the most important element in driving business success? Explain and support your position with case example.

A partnership is an agreement in which two or more persons distribute the profits and liabilities of a business undertaking. Different arrangements are likely, for instance, some partners may perhaps have restricted liability, or all partners may share profits and liabilities evenly. As a result, pricing is the most important element in driving business success.  Pricing is the process at which a business places the price at which it will put on the market its services and products, and might be a component of the marketing plan of a business (Nagle, Hogan & Zale, 2016). In putting prices, the business take into consideration market place, brand, superiority of product, market condition, the manufacturing cost, the price at which it could obtain the goods and competition. Since profit is the interest of every partner in a partnership, pricing is very important as it is the only revenue generating element among the four Ps.

Pricing has an insightful impact on the marketing policy and relying on the price elasticity of the product; it will habitually influence the sales and demand as well (Nagle, Hogan & Zale, 2016). However, this will in turn affect the income of the business since when the sales and demand are less there is no revenue generated. Additionally, pricing contribute to how consumer view a service or a product. For instance, when a product get priced at a high cost, it get perceived as high quality while that priced at low price get perceived as low quality. If a firm product’s price reflects the true value of the product, then the products get bought because most customers will refer them luxury thus making a good profit. Also, pricing is one area where minute modifications can set a business separately from competition.

Partnerships of Teachers And Parents In The Education Of The Whole Child – Director’s Presentation

The Final Project will illustrate how family-centered programs, theories, and concepts support the early childhood classroom and the child’s family. The family-centered approach asserts that family involvement is important for a young child’s cognitive and social development. The Final Project, which will be presented via PowerPoint, will address the following scenario:

You are the director of a preschool program that serves children ages three to five. You are giving a presentation to teachers and parents to encourage partnerships in the education of the whole child. The objective of your presentation is to encourage adaptive skills and to facilitate strategies in which to maximize these abilities that can be taught in the classroom and extended at home. Address the following points:

  • Self-help skills.
  • Pro-social skills.
  • Self-regulation skills.

For each of the three skill-sets:

  • Explain the desired skills and how they relate to the classroom and home.
  • Identify and discuss two to three strategies for teaching the skill-set to children in the classroom.
  • Explain how you will help parents to utilize the strategies to reinforce the desired ability at home.
  • Identify and describe a resource (either community or web-based) for the parents to use to continue their learning at home.

The PowerPoint presentation must be 18 to 20 slides in length, not including title and reference slides. You are encouraged to creatively address the material by including graphics, visuals, charts, graphs, and/or sound. Slides should be designed to clearly and concisely address the material. The PowerPoint presentation must be formatted according to APA style (i.e., include the title and reference slides and citations within each slide when appropriate.) The notes section of the PowerPoint must be utilized to expand on your presented points. The notes section should also include any additional information necessary to explain or show your point of view. You must also use at least two scholarly sources in addition to the course text and include at least four community resources (with websites included).

Order a unique power point presentation at an affordable price. 

Financial Benefits And Limitations Of Global Partnerships

Globalization describes the trends which are perceived to increase communications and connections significantly among people regardless of geography or nationality. The trends are now the source of excitement and incredulity in the economic world as the markets are less segmented by national boundaries T (Yale Center for the Study of Globalization, 2013).here is wider market opportunity for both the seller and the buyer, and also, create an avenue of competition. Nonetheless, globalization affects three types of markets; assets and debts, labor, and services and products

Benefits of Global Partnership

Globalization provides a platform where new ideas, opportunities, and markets fashioned and created that entrepreneurs cannot access in their countries. Consequently, there are some positive effects linked to globalization. Three examples of the positive impact and benefits are; firstly, firms from less industrialized countries access and tap large and more markets around the world. Secondly, there is more access to cheaper imports and more important exports markets, human capital, capital flows, and technology.

Finally, globalization offers opportunities for developing countries to participate in international supply chain and production networks, which are the main outlets for trade(Yale Center for the Study of Globalization, 2013). For instance, East Asian economies describe the benefit and positive effects of globalization on growth in the economy. Also, it reveals that globalization can decrease poverty levels in the world

 

Limitations of Global Partnership

Conversely, there are limitations on globalization and critics of global economic partnership warn that the growth of the global trade is aggravating income inequities between the developed and developing countries. Also, the international trade is increasable controlled by multinational corporations that strive to maximize profits without considering the needs of the developing countries (Mikesell, 2014).  Further, the existence of isolationist policies in the developed countries hinders the developing countries to access to the export markets. Lastly, the volatility and volume of capital flows escalate the dangers of currency crises and banking for the countries that have weak financial institutions.

Latin America is an excellent example illustrating the limitation of global partnership as increased access to world trade affected negatively on the continent. Most governments in Latin America eased and liberalized imports in more regions than other regions, which created economic inequalities.

Comparing Limited Liability Company And Partnership

Partnership gets formed when two or more individual enter into business together. As a result partnership is an easy entity to setup. In the formation of partnership, there are lawful needs for registration apart from registration with the county of the business name. On the other hand, Limited Liability Company is a separate and distinctive officially permitted entity. Therefore, to form a limited liability company the owner of the business should file official articles of organization with their nation’s limited liability company filling office and meet with the terms of other nation filing needs. By contrast, members who form a partnership do not require filing any official paperwork or paying any particular fees.

On the obligation of debts, in partnership the members are liable of the debts of their business. Members of partnership are not protected from the liability of their debts. On the other hand, the members of Limited Liability Company do not have any obligation to the debts that their company owes the creditors. Therefore, if a partnership business run bankruptcy, the creditors have the right to sell the properties of the members of the partnership to recover their debts which is not allowed in the Limited Liability Company.

The functioning and organization of Limited Liability Company and partnership can get administered through mutual agreement. Both members of partnership and Limited Liability Company can embark responsibilities to each other to perform, or desist from performing, one or more defined deeds. A mutual agreement in both partnership and Limited Liability Company can be in writing or oral. For instance, in a company of two members they can agree that one member to run the business and he or she gets remunerated while they share the rest of the profit.

Dissolution of partnership gets done without any lawful formalities apart for the filing final tax return. Therefore, dissolution of the partnership can be as a result of withdrawal of one member, or death among others. On the other hand, dissolution of Limited Liability Company needs lawful formalities. For a Limited Liability Company to get terminated certain lawful and tax formalities need to get followed. As a result it is easier to terminate a partnership than to terminate a Limited Liability Company.

In taxation procedure, both Limited Liability Company and partnership are almost identical. In both partnership and Limited Liability Company, the members on their personal tax returns report business income or losses. In this case the business does not make any payment of tax on this money. Actually, with the Internal Revenue Service, both Limited Liability Company and partnership file an identical informational tax return. Additionally, both the Limited Liability Company and partnership distribute identical programs to the business’s members. The program lists each member of both the Limited Liability Company and partnership share of income.

From the comparison it is clear that Limited liability Company is a better prefer compared to partnership. Though, in the formation process if needs legal procedures that might take long to fulfill, once formed its advantages particularly to the members out ways the disadvantages. However, this gets displayed on the features of the Limited liability Company where the members enjoy limited liability and personal assets protection.

Role Of U.S Securities Exchange and Commission As It Relates to Partnerships

The United States Securities and Exchange Commission (SEC) is the agency tasked with the duty of safeguarding investors. Therefore, it regulates the activities of publicly traded companies to ensure that they engage in prudent financial activities that would ensure the protection of investors’ funds. However, the SEC does not just regulate companies that that are publicly traded. It also regulates partnerships, specifically limited partnerships. The Securities Act of 1933 and the Securities Act of 1934 require limited partnerships to register with the SEC if its meets several conditions. First and foremost, the partnership should be registered with the SEC if it meets the definition of “investor contract” since it engages in the sale of securities to investors. In addition, if a partnership should register with the SEC if it does not meet the conditions for exemption from regulation as a private placement. According to the regulation, the partnership may file to be registered with the SEC as a much smaller company. If the partnership does so, it must ensure that it complies with the Securities Act Regulation S-X and Securities Act Regulation S-K. Regulation S-X details the SEC requirements of the financial statements of the partnerships. On the other hand, Regulation S-K details the non-financial disclosures of the partnership. Subpart 1200 of Regulation S-K also details the industry-specific non-financial requirements of entities in that engage in oil and gas operations. The regulations of the SEC ensure that companies provide information would enable potential investors make informed decisions on whether to invest in the partnerships or not. States may also regulate certain partnerships as a security regardless of whether the entity is exempted from registration at the federal level with the SEC. However, the states may not regulate the partnerships if they are sold exclusively to accredited or sophisticated investors (Eastman, 2014).

Broker-dealer firms and financial advisors who recommend investors to invest in a certain limited partnership also required to be registered with the SEC. However, the employees of the partnership who engage in the sale of the investment to investors are not required to be registered or licensed. According to the SEC regulations, broker-dealers, financial advisors, and their employees should ensure that they provide an independent due diligence report of the limited partnership. The report should also detail whether the limited partnership complies with registration or is exempted from the certain rules. They should also ensure that they review the financial data of the limited partnership. The broker-dealers, financial advisors, and their employees should ensure that they provide an evaluation of the fees and proceeds from their involvement with the limited partner (Rubin, 2015).

According to the SEC regulations, broker-dealers, financial advisors, and their employees should also provide the potential investor with the track records and backgrounds of the managers of the limited partnerships. They should also provide evidence that the investment would be suitable for a certain investor according to the financial risks and liquidity of the limited partnership. Broker-dealers, financial advisors, and their employees should also ensure that they use fair and balanced means to communicate with investors and potential investors. They should ensure that they do not provide any misleading information or make omissions in their report on the limited partnership (Eastman, 2014).

Guggenheim Partners Investment Management LLC, Colorado 2001D Limited Partnership, and Patriarch Partners highlight how the SEC regulates the partnerships. The SEC sanctioned the above partnership for engaging in activities that contravened its regulations. In the case involving Guggenheim Partners Investment Management LLC, the SEC instituted charges against the company for the breach of its fiduciary duty by failing to report a loan of $50 million that one of the senior executives of the company had received from an advisory client. According to SEC regulations, fiduciaries, such as Guggenheim Partners should ensure that they report all material facts to their clients including any areas that potentially have conflicts of interest. As such, Guggenheim Partners did not disclose all fees and proceeds that they got from the advisory client. Guggenheim Partners agreed to pay $20 million to settle the charges filed by the SEC (Stevenson, 2015).

According to the Securities Exchange Act of 1934, limited partnerships that meet certain conditions should make periodic filings with the SEC. The SEC also details the industry-specific non-financial requirements of entities in that engage in oil and gas operations. These were the major issues in the case involving Colorado 2001D Limited Partnership. Colorado 2001D Limited Partnership was a limited partnership that engaged in the onshore oil and natural gas exploration domestically. The limited partnership failed to make periodic filings as required by Section 13(a) of the Securities and Exchange Act of 1934. This prompted the SEC to institute charges against the partnership. The SEC used Rules 13a-1 and 13a-13 to revoke the registration of the limited partnership.

The SEC requires broker-dealers, financial advisors, and their employees to conduct due diligence, which would help investors to make informed decisions. Broker-dealers, financial advisors, and their employees should ensure that they do not provide any misleading information or make omissions in their report. This was the major issue in the case involving Patriarch Partners, a private equity firm that invests in troubled companies. The SEC sued Patriarch Partners LLC and Lynn Tilton, the firm’s financier, for defrauding investors millions of dollars by hiding the real value of loans that some of the funds managed by the private equity had. The SEC claims that Ms. Tilton and Patriarch breached their fiduciary duties by using a method of valuing loans of the funds that was different from the method detailed in the offering documents of the funds. The use of the misleading method of valuing loans enabled Ms. Tilton to receive more than $200 million in fees (Jarzemsky & Viswanatha, 2015).

SEC intervention ensures that companies engaged in prudent financial activities. It helps in safeguarding investor’s funds. Therefore, if a partnership engages in good financial practices it does not have to worry about SEC intervention. The partners in a partnership should ensure that the top level management of the partnership has a good track record. This would prevent the partnership from violating certain SEC regulations in the future due to the unethical financial activities of the top level management of the partnership.

Download full sample research paper on role of SEC as it relates to partnerships or order a plagiarism free paper at an affordable price.

Advantages And Disadvantages of a Sole Trader Over Partnership

Advantages of a sole trader over partnership

In business, a sole trader enjoys all the profits arising from his or her business this is contrary to partnership where the profits are shared among the concerned partners.  The sole trader exercises a degree of control to the business; he/she is his/her own boss and the source of all the decisions governing his/her business. this makes the decision making process faster as compared to partnership where all the partners in the business must be consulted in order to make a decision about the business. Some partners like the dormant partners do not assume active roles in the business. Very few legal formalities are required in the start for a sole trader; a sole trader simply needs a license to commence his/her business activities.  In terms of the initial capital, the start-up costs for a sole trader’s business is low as compared to partnership that requires relatively much money to start with detailed legal formalities.

A sole trader’s business is more flexible; one can therefore change the legal structure of the business in case the circumstances change since the decision to do so lies only with him.  This however, is not applicable with a partnership business.  Partnership is not flexible in its operations. It is formed under the partnership act with stipulated activities that the business should engage in; there is no crossing of the line. A sole trader has very unlimited liability to loans, it has a limited capacity to raise capital unlike the partnership.

Disadvantages of a sole trader over partnership

A sole trader suffers all the losses in the business alone and the life of the business is so limited. In case a sole trader dies, so does the business. In partnership, the losses are shared among the partners and in case of sickness or death of one partner, the other partners can carry on with the business. A sole trader has limited financial sources. They are not treated as separate legal entity by the law.

Sole Trader in Relation to Partnership – Advantages And Disadvantages

Advantage of a sole trader in relation to partnership.

The exercise of full control is highly achieved in sole proprietorship as the sole trader undertakes every the entire control of the business. The sole trader runs the business how he/ she pleases with no interference from anyone (Naidu, 2012). Unlike a partnership in which one must consult with other partners before undertaking any role with respect to running the business.

There is quick decision making platform as the trader need not to confer with other decision makers, thus a swift move to meet the needs of his customers. On the other hand, the process of decision making in a partnership is long and involving which would results to delays in meeting customers’ needs (Dransfield, 2013).

Disadvantage of a sole trader in relation to partnership.

On the liability aspect, sole traders are disadvantaged as they are not treated as separate entity by law. They are subjected to unlimited liability (Bendrey, Hussey, West, Hussey & Bendrey, 2012). That is, the business owner takes liability with his personal assets when the business gets into debt, whereas in a partnership the any liability rests on the business assets and not personal assets of the partners.

Limited source of finance. A sole trader has to raise the funds for his business personally unlike in a partnership in which the task of funding the business rests on all the partners.

stages of evolution in supplier partnerships

Answer the following questions fully and completely.

  1. Describe the seven stages of evolution in supplier partnerships. Which three do you think are most critical, and why? Please provide examples. (Objective 2.1)
  2. if you were CEO for your organization, how would you go about creating and implementing a quality culture? What challenges would you likely encounter, and how do you plan to overcome these roadblocks? (Objective 2.2)
  1. Analyze and assess at least four of the methods described in your text for laying the foundation for a quality culture. Provide examples from your own previous or current employment that either support or contradict these strategies. (Objective 2.2)
  2. Differentiate the processes of identifying external and internal customer needs. Why are both important? (Objective 2.3)
  3. Explain the concept of Quality Function Deployment (QFD), and tell how it relates to customer satisfaction and retention.(Objective 2.3)
  4. Discuss the customer loyalty model, and explain the role of considering profitability in creating customer loyalty. (Objective 2.3)

Immigrant Parenting, Culture Clash, and Parent Community Partnerships Mock Grant Proposal

In this week’s assignment, you will write a proposal for grant funding to address issues related to ensuring student success when they come from families of immigrants or from different cultures.

Step 1:

 

The following video provides a discussion on immigrant parents, culture clashes, and how to work with these parents as partners:

Parenting Across Cultures: The Different Ways We Raise Our Children (http://www.youtube.com/watch?v=BJic9NrYk0Y)

Be prepared to take note of:

  • The expectations of immigrant parents
  • The challenges in adjusting to new dominant culture
  • How children adjust to cultural change
  • The impact of the family environment on children and their identity

After viewing the video, review:

  • Chapters 7 and 8
  • The article by Bang, Suárez-Orozco & O’Connor (2011)
  • The article by Pate (1981)

Step 2: 

Devise a strategy or series of strategies by which you can support immigrant students and their families in your future classroom. In this plan you must:

  1. Summarize the needs of all of your students regardless of how many generations they are away from their native culture or cultural heritage.
  2. Strategize ways to engage families and truly partner with them in terms of their child’s academic success. This can be as simple as agreeing to connect on a regular basis or as unique as creating class events where parents share their culture, language, and heritage.
  3. Present a budget that accounts for all money, showing how it will be spent. You may wish to include items such as: printing, mailing, meeting expenses, etc.

Present a three- to five-page proposal, not including the title and reference pages, in essay format with the goal of being awarded grant funding of $5,000. This essay is formal and must include current research. Use the sources presented in this assignment as well as at least one additional scholarly source to strengthen your argument. All money must be accounted for in your proposal; therefore, you must show where the money will go (how it will be spent). The goal of the grant is to partner with parents representing diverse cultures or immigrant status to ensure their students’ academic success. Your proposal must be formatted according to APA style as outlined in the Ashford Writing Center.