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Theories of business growth strategies
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The other two LLC members are my closest friends, Felicia and Pam. Felicia is my best friend. She and I met almost 20 years ago, both working part-time in the evenings at a bank decoding checks. Felicia is truly devoted and has demonstrated as much by visiting me in every country and state I’ve been stationed while serving in the military, with the exception of two. She has a background working with grants at a university and is fully aware that she can talk a lot. Felicia will be most useful in managing the business, in the sense of working with healthcare insurance companies and government agencies on contracts and negotiations. Pam is another good girlfriend, whom I met while stationed in Germany in 2002. She has a Master’s degree
The Twilight Zone episode was similar to the story since it mainly followed the story’s plot and setting, and there were no added or missing characters. But, they were different in plenty of ways, for instance, how they opened the button early in the episode, but in the original story, Norma opened it (or broke it, rather) at the ending of the story. Another large difference between the Twilight Zone episode and the story was the ending. In the story, Arthur dies after pushing the button, and Norma receives $50,000 from Arthur’s life insurance, while in the Twilight Zone, Arthur does not die, and he and his wife gain $200,000 in cash in a briefcase given by Mr. Steward.
Partnership – “A legal entity formed by two or more co-owners to operate a business for profit.” (Longenecker, Petty, Palich, Hoy, Pg. 202) In a partnership, the advantage for the owners is the capability to reduce the workload and the financial burden, especially if each partner has management skills that enhances the business. The disadvantages of a partnership such as personal conflicts and leadership expectations, therefore this organizational form should only be chosen once all other options have been considered.
LLCs must typically pay more fees to file as LLCs compared to some other business entities or sole proprietorships. Additionally, many states require yearly renewal fees. However, these fees are usually less than what some other corporations have to pay. Because of the protections afforded to LLCs, some types of businesses are ineligible to file as LLCs. Banks, insurance companies, and medical service companies are examples of businesses that can not be a LLC. Another big disadvantage is taxes. Although LLC’s allow owners to avoid federal taxes, you may actually end up paying more than it would with a different corporation, depending upon the nature of the business. Working with an accountant and/or tax lawyer is a really good idea when planning your business and forming your LLC but can also be quite expensive. The LLC business form is a relatively new concept. As a result, not a lot of cases have been decided surrounding LLCs. Case law is important because of predictability. If you know a court has ruled a certain way, you can act in a specific way to protect yourself. But if not many laws have been established yet, there is a certain vulnerability with your corporations that could expose you to greater
America have a long history of black’s relationship with their fellow white citizens, there’s two authors that dedicated their whole life, fighting for equality for blacks in America. – Audre Lorde and Brent Staples. They both devoted their professional careers outlying their opinions, on how to reduce the hatred towards blacks and other colored. From their contributions they left a huge impression on many academic studies and Americans about the lack of awareness, on race issues that are towards African-American. There’s been countless, of critical evidence that these two prolific writers will always be synonymous to writing great academic papers, after reading and learning about their life experience, from their memoirs.
I recommend that you transition from a sole proprietorship to a limited liability company or LLC. This will allow you to take advantage of certain favorable tax treatments, as well as personal liability protection, for the “members” involved. I will list some key areas where you will benefit from operating
Comparing Mary Anne in Sweetheart of the Song Tra Bong and Kurtz in Apocalypse Now
Being the owner of LSU, Joe probably operates as a sole proprietor. It is recommended that the business change its entity selection to limited liability company (LLC). The main advantages to an LLC are the protection the LLC owners receive from business creditors, and the fact that the owners can still participate in the management of the business.
“Across industries, human resource managers have come to understand that satisfied employees have a great deal of influence on client satisfaction” (Wells, 2008). Inundated paperwork such as tax preparations, and filing certain documents with the major headquarters of Arthur Murray Studios are causing huge headaches for SLT. Tax issues for dance studio business is one area that SLT needs help preparing a dance studio business plan that is tax ramifications. Unfortunately, SLT is not a tax expert and is seeking help with such things as the specific structure of the business, the annual revenue stream and yearly budget. SLT has hired a qualified tax attorney to prepare a dance studio business plan as a step for expanding the
My internship site is a small office with my supervisor Mindy Carmen who runs her own law practice, her executive assistant, and myself as the summer intern. Mindy is a
This sounds like a great business venture, but there still is a small problem. Mr. Lewin was one of Mr. Leighton's students when they formed the Akamai Company. This brings about the moral question of the case. Should students and professors be allowed to start companies together? Although there is no clear answer, there is widespread agreement among administrators that schools need to address the question. As a result, many M.B.A. programs are in the process of reviewing and, in many cases, implementing policies and guidelines governing student-professor business collaborations. The burden of this moral question falls mostly on professors since student is not an establish profession and thereby has no formal code of ethics.
Before a partnership formation is imminent, the business needs to decide on which type of partnership to form. There are three types of partnerships: (1) general partnerships, (2) limited partnerships, and (3) joint ventures. All three partnerships contain two or more owners, but all partners assume equal division of ownership, liabilities, and profits in a general partnership. Limited partnerships offer limited liability protection based on each partner’s contribution percentage. Joint ventures are classified as general partnerships with limited existence periods. Once a type of partnership has been determined, the business fulfills a series of requirements before the partnership can be successfully formed. The first step is to register
Do I have enough connections to get started? As mentioned above, competition for clients in the industry is tough. Since you are essentially asking a wealthy family to trust you with their money, you need a strong network of people who already trust you and know about your capabilities.
(Dictionary, n.d.) My experience with an LLC was through partnership with a non-profit homeless veteran’s program. In the beginning we had the developer who owns the LLC and all he wanted was to create low cost housing units to house homeless military veterans and the non-profit just wanted to provide the supportive and ancillary services. Both entities worked well together over 10-15 years when the government says this is a “less than arms-length relationship’. The implications were that the LLC would benefit greatly from contracts and grants obtained for the non-profit because they were not put out to bid. This was a pain staking audit which resulted in the dissolution of the partnership. They said that although they didn’t see anything too far out of the scope the repercussions were not as devastating as we all feared. Some of the advantages of this partnership was knowing that if the outreach team came back with 5 homeless veterans the service provider and the housing provider would never send a veteran out in the
In the present case, the company (LP) has six individuals on the board of directors (Andy, Brian, Chris, David, Evan and Faith). All these directors, particularly Andy, felt that it would be prudent to restructure
4. Control: the members of the LLC have the ability to set up control of the corporation as they see fit.