Start Up Busines Case Study
Many potential business owners start up companies or invest in companies without
conducting the proper research. This causes numerous businesses to fail. I investigated
a business that I as a business owner would like to establish. My analysis of the potential
business will address several important topics. I will research the background of the
industry, trends, how to finance the business and what kind of a business it will be. I
will also look into the organizational structure for the company as well as how many
employees it will take to make this business successful. When reviewing the different
types of organizational structures my business could use I will also discuss the
management, decision making criteria, and problem solving techniques that the business
will adopt. The accounting aspect of the business is the most important part of a
successful business. A potential business owner may have a great idea but without the
accounting infrastructure in place a business will not be stable. I will discuss what
financial and accounting records may be necessary for the business. Also the assets,
inventory, depreciation and how I will price my services.
The world of elementary textbook publishing is dominating by four large publishers.
According to Dirk Smillie, who writes for Forbes Magazine, the industry of elementary
and secondary textbook industry sells over $4 billion dollars each year. California alone
spends over $500 million a year on textbooks. This industry virtually operates
completely under the radar. I found this extremely surprising because of the vast
amounts of federal funding that is giving to each state per year for the acquisition of
Analyze every position within the company and establish future needs based on retirement age of the incumbent and future growth impacts.
After careful consideration I relate more to Dr. Davis M. Buss, known for his evolutionary research on human sex differences in mate selection. Sex differences. Buss posits that men and women have faced different adaptive challenges throughout human history, which shape behavioral difference in males and females today. Example women have to carry the child for nine months and then make it though delivery. Men during pregnancy have thoughts of paternity and having as many children as possible. He also focused on short and long term mating strategies, male and female preference, deception, love, jealousy, and a host of other topics that deal hand and hand with relationships and relationship disputes. I Personally, relate to these theories because
As with any kind of business formation, there will always be, to some extent, negative aspects associated with the creation. To this date there is no perfect form of business entity. When deciding on which entity is best suited for a business, there are many things to be considered. Prior to deciding on a business structure, some major points to be thought about are both the legal and tax ramifications associated with the entity chosen. Another criteria that should be considered are the costs connected with the entity type. These cost include the cost of formation as well as any continuing administrative cost that may be incurred. (“Choose Your Business,” 2011)
Although small businesses do not make a lot of major deals with large investors, most small businesses create profit revenue greater than large corporations. Small business creators are very brave considering only ten percent of small businesses survive. Unfortunately, some communities do not support local small businesses; they only support the large brand name and force small businesses to die out. Since small businesses will not have a name brand known around the world, many people from communities will not support them because they are not known on a national scale. “This, in turn will affect the local economy and drive capital out of their local economy. On average, for every one hundred dollars spent in an economy, if spent on a
In the 21st century, small and large, private and public businesses are all aiming towards economic growth. The small business marketplace is extremely dynamic and the changes are fast. Here are some facts from the US Small Business Administration on small businesses. There are about 30 million small businesses in the United States and employ just over half of the country’s private workforce. They employ a staggering 40% of high tech workers such as computer professionals, scientists and engineers. More than half of the small businesses are home-based businesses and two percent of them are franchises. One of the most important aspects is the fact that a majority of innovations in the United States come from small businesses. In 2008, there were 627,200 new businesses that started, 596,600 businesses that were closed and 43,546 companies that filed for bankruptcy. According to business experts, of all the small business startups, one-third of them are profitable and successful, a third of them just about break-even and the rest of them are down with negative earnings Some buyer’s develops as independent business owners, while others are more likely to prosper as franchise owners. According to a recent report by the Small Business Administration (2007), the United States had approximately 26.8 million small business firms in 2006. In fact, as recently reported by Moutray (2006), most firms in the U.S., are very small and account for about half of the country's non-farm real GDP. Over the past decade small business has generated 60–80% of new jobs annually. In reality, there are easy answers to the independent business versus franchise dilemma. Although, a franchise system offers benefits to owners such as brand recognition, to inc...
...siness tax id number? Are you comfortable with putting personal assets on the line for your business? How much control do you or your partners want to have? Will the company be owned by others investors with no single owner?
...tegies. I would check out the technical requirements i.e. equipment, business feasibility (land lease, vendors and suppliers, etc)
Start up Businesses website n.d., EStartup business blog and contributors, accessed 19 August 2011, .
Starting and building a prosperous business is an ambition of many entrepreneurial minds and has for
If I were to start my own business, my dream would be to build a surf and skate shop on the Southern California coast. My business would be located on beachfront property in the surrounding area. This business plan will cover two main subjects, 1: an Analysis of the Business Situation, and 2: the Planned Operation of the proposed business. The first topic will cover the subtopics Trading Area Analysis and Competition in the area for my business. The second main topic will cover the proposed organization of the business, the proposed business, and proposed strategies for that business. The analysis of the business situation will cover geographic and demographic information for Huntington and the surrounding area. It will also contain an analysis of businesses in the area which are of similar type, customer buying behavior relating to my proposed business, and the potential location of my business. The Proposed Operation section will address the topics of ownership, start-up procedure, personnel needs, special functions, and an organizational chart. Details of products which will be sold will also be included, as will my business' pricing policy. I would hope that through my thorough planning and explanation that my business idea will be a grand success on the beautiful beaches of California.
What does the accountant of the future need to be successful? A sturdy education that while is based on traditional accounting practices, also prepares future accountants for the plethora of changes happening in the accounting universe. Frequently, most of the institutions responsible for educating professionals fail to evolve as rapidly as the professional practice itself (Bedford et al. 4). In every way, accounting is expanding and in order for the future to have competent accountants, accounting education must expand as well. Major changes occurring in the world of accounting include the expansion of services and products, changes in competition, an increase in specialization, and an increase in and an advancement of technology. It is up to academic institutions to find proactive ways in which to prepare students for such changes. Accounting education of the future will require more breadth to cover the inevitable expansion of services and products, increased knowledge of economics, marketing, management and information systems to increase competitive advantage, a balanced course load that provides a general accounting knowledge as well as increased knowledge of a specialization, and also a greater, proactive focus on the use of continuously advancing accounting technologies (Bedford et al. 8). Also in play is the chance of change in accounting standards, the move from US GAAP to IFRS. While there are no certainties surrounding the threat of such change, students in the U.S. should acquire at least a general, basic feel for the practices used in regards to IFRS. The future health of the accounting profession depends, to a great extent, on the health of our students (Gormon and Hargadon 4). Reorganization of curriculums would surely be difficult and assumedly time-consuming, but nevertheless, completely
My interest in accounting was first sparked off by taking lessons related to accounting during my undergraduate study. It was through these courses that I got to know accounting, the language and basic tool of business, is integral to the success of all businesses or non-business, profit or non-profit organizations. Before that, my cognition about finance and accounting had been confined to the concept of commercial banks and desperately endless calculations. But the truth is that it is the science of accounting that offers us a broad and firm grounding in understanding the complexities of what makes a business successful and how to run a company in varying situations. Thus, it is no exaggeration to state that accounting is at the heart of
I suggest Angelo to develop successful human resources functions base on his business scale and capital. For Angelo’s Pizza stores, he needs to hire a human resource manager to oversee the department functions and manage employee. The manager will provide guidance and direction to compensation and benefits specialists, and also responsible for employee training and development which include new hire orientation, leadership training and professional development seminars and workshops. Thronging examine employee performance records to identify whether employees could improve their job skills or qualified their positions. In addition, Angelo needs hire an HR assistant to handle administrative task like managing the HRIS, filing paperwork, posting job ads and ensures the firm is compliant with all regulatory and labor regulations. Lately, hire one more recruiter to take charge of what’s often the most function in the HR department: staffing. Both of HR assistant and recruiter will report to the manager
A start-up business is a newly created business and has very specific human resources needs. The HR department in a start-up, contributes strongly to the achievement of the overall business targets so it has to be quick, effective and able to set up basic HR processes properly. These processes should be efficient and not just optimised. People who run the HR department in startups should have strong organizational skills, financial and statistical skills, high sense of responsibility, analytical and communicational skills, along with creativity flair in order to organize adequately the company’s work flow, from the very beginning. People who work in startups HR departments must have in mind, that a start-up business is more likely to need changes
3.Longevity: the sole proprietorship has a limited lifespan once the owner dies or moves on from the sole proprietorship will cease to exist