Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_nlist() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 420

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 717

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230

Warning: ftp_pwd() expects parameter 1 to be resource, null given in /home/essadpjw/collewriters.com/wp-admin/includes/class-wp-filesystem-ftpext.php on line 230
Expert answer:Management - colle writers

Expert answer:Management

Solved by verified expert:Please answer 3 of 5 questions.Please type your answers and use examples and course materials to support your answers. You have a 2 page limit. Answers must be typed and double spaced.QUESTIONSIt is often said that cash is king for a small business. Describe three methods a business can use to improve cash flow.Identify and discuss important factors to consider in choosing a legal form of organization.Name and briefly describe three sources of equity that small businesses might access?An active and robust network is import for small business leaders, name 5 tools a small business leader may use to grow their network and social capital.What is an industry cluster and how might it impact the strategy of a small business? Are there digital clusters?
mgmt453_9_spring18.pdf

Unformatted Attachment Preview

Don't use plagiarized sources. Get Your Custom Essay on
Expert answer:Management
Just from $10/Page
Order Essay

MGMT453 — Welcome Back
Spring Break + Cancellation!
Please sit with your team…
Team Project
— 10-20 pages + addendum (basic financials, images, data, etc); professional
document (table of content, proofread + up to 6 minutes to present
Midterm

50% short answer, 50% multiple choice
Short Answer, 35.8/40 = 89.69
Multi, 14.06/17 = 82.7
Total = 86.2
What is going on in world
— Assess opportunity; explain strategy, approach, plan (for value creation) and
the operation of a strong, innovative small business
— $500,000 in cash to start with
— Things to include: Mission/legacy, strategy, business model (with canvas), basic
financials (2-3 years of income, statement of cash flow, BS), management team,
advisory council, location, harvest, overall analysis & assessment
— What makes your business model special? (use that canvas!)
????
Today’s Roadmap
— Midterm
— Team Project
— News
— Opportunities
— Oldest firms in the world, Google, B
— Organizational Plan – Chapt 8
— Financial Statements
#TRUTH
MAKER FAIRE
— Sources of Funds / Chobani
5
Patriot
Pollinator
Coalition
Tomorrow
2 pm
Enterprise 278
Deans’ Business Competition
A
R
T
T
EX EDI
CR
Whiffletree Farm Visit
April 18, 2018
8 am – 1 pm
3 Pitch Events | Over $30,000 in prizes | Social
Impact & Commercial Tracks | April 12 |
MIX@Fenwick | Free Food & SWAG
Oldest Companies
in World
— Japan
— Kongo Gumi — 1400 years
— How continue
Two strategies
— Something changed (year 2000)
https://www.theatlantic.com/business/archive/2015/02/japans-oldest-businesses-have-lasted-more-tha
n-a-thousand-years/385396/
Chapter 8 – The
Organizational Plan
Building a Management Team
• Management Team
1. Describe the characteristics and value of a strong management team.
➢ Managers and other key persons who give an organization its
general direction
2. Explain the common legal forms of organization used
by small businesses.
• Characteristics of a Strong Management Team
3. Identify factors to consider in choosing among
the primary legal forms of organization.
➢ Capable of securing the resources needed to make business a
success
4. Discuss the unique features and restrictions of
five specialized organizational forms.
➢ Reassures investors about the their investment and the
continuity of business
5. Understand the nature of strategic alliances and
their uses in small businesses.
➢ Diversity of talent makes the team stronger than an individual
entrepreneur
6. Describe the effective use of boards of directors and advisors.
8–13
Building a Management Team (cont’d)
Building Relationships
• Team Building and Structure
➢ The required combination of education and experience
depends on the type of business and the nature of its
operations
Expanding Social
Networks
➢ The key: achieving a balance of skills and competencies in
functional areas
Building Social
Capital
➢ Designing an internal management structure that defines
relationships and responsibilities
❖ Outside professional support can supplement the skills
of a management team
❖ An active board of directors can provide counsel and
guidance.
8–14
Reciprocation
1–15
8–16
8.1
Forms of Legal Organization for Small Businesses
8.2
Percentage of Small Businesses by Legal Form of
Organization
17
The Sole Proprietorship Option
18
The Sole Proprietorship Option (cont’d)
• Sole Proprietorship
• Disadvantages
➢ A business owned by one person, who bears unlimited liability
for the enterprise.
➢ Bears all business risk.
➢ Is subject to all claims of creditors.
• Advantages
➢ Receives all of the firm’s profits.
➢ Has unlimited personal liability for business.
➢ Holds title to all of the firm’s assets.
➢ Receives no tax free benefits as an employee.
➢ Can easily sell or transfer ownership of the company name and
assets.
➢ Death/incapacity of owner terminates business.
➢ Requires no registration or filing fee.
➢ Is limited to the proprietor’s personal capital.
➢ Has absolute freedom from interference by other stakeholders.
8–19
➢ Is taxed on business income as personal income.
8–20
The Partnership Option
Partnership Insights
• Partnership
• Choose your partner carefully.
➢ A legal entity formed by two or more co-owners to carry on a business
for profit.
• Be open, but cautious, about
partnerships with friends.
• Partner Qualifications
➢ Required: of legal age to contract
• Test-drive the relationship,
if possible.
➢ Desired: Honest, healthy, capable, and compatible
• Questions about Partnership Formation
➢ What is our business concept?
• Create a combined vision
for the business.
➢ How are we going to structure ownership?
➢ Why do we need each other?
➢ How do our lifestyles differ?
• Prepare for the worst.
8–21
http://www.blogtalkradio.com/familyfantasysports/2009/12/24/pilot-episode
Rights and Duties of Partners
The C Corporation Option
• Corporation
• Partnership Agreement
➢ A business organization that exists as a legal entity and
provides limited liability for its owners.
➢ A document that states explicitly
the rights and duties of partners.
• Legal Entity
• Joint and Several Liability
➢ A business organization recognized by the law as having a
separate legal existence (“artificial being”); can be sued, hold
property, and incur debt.
➢ The liability of each partner resulting from any one
partner’s ability to legally bind the other partners.
• The C Corporation
• Termination of a Partnership
➢ An ordinary, or regular, corporation chartered by the state and
taxed by the federal government as a separate legal entity.
➢ Provisions for rapidly responding
to death or departure of a partner.
8–22
8–23
8–24
Rights and Status of Stockholders
The Corporate Charter:
Articles of Incorporation
• Name of company
• Formal statement of formation
➢ A document specifying the number of shares of stock owned by
a shareholder.
• Voting privileges for each class
of stock
• Location
• Names of incorporators and
directors
• Duration
• Capital stockholders
• Classes and preferences of
stock
• Statement of limited liability for
stockholders
• Number and par value of
authorized shares
• Statement of directors’ powers
• Type of Business
• Stock Certificate
• Pre-emptive Right
➢ The right of current stockholders to buy new shares of stock
before they are offered to the public.
• Legal Status
➢ Ownership provides control over the firm.
➢ Ownership limits liability to investment in the firm.
4–25
➢ Ownership can be transferred without affecting the firm’s
operations.
8.3
Criteria for Choosing an Organizational Form
8–26
Comparison of Basic Legal Forms of Organization
Initial
Costs
Continuity of
the Business
Liability of
Owners
Income
Taxes
Factors Affecting
the Choice of a
Firm’s Structure
Attraction of
Capital
Transfer of
Ownership
Management
Control
1–27
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
28
8.3
Forms of Business—Federal Income Taxes
Comparison of Basic Legal Forms of Organization (continued)
• Sole Proprietorship
➢ Self-employed persons are taxed on their business incomes at
tax rates set for individuals.
• Partnership
➢ The partnership does not pay taxes; allocated shares of income
from partnership are taxed as personal income for each of the
partners.
• Corporation
➢ As a separate legal entity, it reports its income and pays any
taxes related to its profits; dividends paid to shareholders are
taxed as personal income.
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
29
8–30
Liability of Owners
Specialized Forms of Organization
• Piercing the Corporate Veil
• The Limited Partnership
➢ A situation in which the courts conclude that incorporation has
been used to perpetuate a fraud, skirt a law, or commit some
wrongful act, and thus remove liability protections from the
corporate entity.
➢ General partner

• Agency Principle
Active in the business, personally
liable for the debts of the business
➢ Limited partners
➢ An employer is liable for the actions of an employee while on
company business.

➢ Organizing as a corporation or limited liability company shields
the personal assets of owners in agency cases.
Not active in the business, liability
limited to investment in business
➢ Income (taxable) or losses

8–31
Apportioned to each partner
1–32
Specialized Forms… (cont’d)
Specialized Forms… (cont’d)
• The Limited Liability Company
• S (or Subchapter S) Corporation
➢ Stockholders have limited liability but pay personal income taxes on
the business profits.
➢ Eligibility Requirements

No more than 100 stockholders
❖ Easier to set up

All stockholders must be individuals, estates, or trusts
❖ More flexible

Only one class of stock can be outstanding

Must operate on a fiscal calendar year basis

No nonresident alien stockholders
❖ Tax advantages
• The Professional Corporation
➢ Protects licensed professionals from liability of partners but not their
personal liability.
➢ Benefits

Liability limited to investment in corporation

Passes taxable income or losses to share holders
• The Nonprofit Corporation
1–33
The Benefit Corporation
a benefit corporation is a type of for-profit corporate entity, authorized by 30
U.S. states and the District of Columbia[1] that includes positive impact on
society, workers, the community and the environment in addition to profit as its
legally defined goals. Benefit corporations differ from traditional C corporations
in purpose, accountability, and transparency, but not in taxation.
Maryland was first state – here is the bill…
http://mgaleg.maryland.gov/2010rs/bills/sb/sb0690t.pdf
Look at the areas of public general benefit they lay out — environment to arts…
➢ Serves civic, educational, charitable, or religious purposes but not for
generation of profits.
1–34
Forming Strategic Alliances
• Strategic Alliances
➢ An organizational relationship that links two or more
independent business entities in a common endeavor
➢ Benefits

Reduced cycle times through shared resources

Increased performance through synergistic combinations
of financial resources and creativity
➢ Risk

Difficulty in establishing and maintaining alliances
https://en.wikipedia.org/wiki/Benefit_corporation Method, Kickstarter, Plum Organics, King Arthur Flour, Patagonia,
Solberg Manufacturing, Laureate Education and Altschool
1–36
8.4
Setting Up and Maintaining
Successful Strategic Alliances
Most Popular Small Business Alliances by Type
• Steps in Building Strategic Alliances
➢ Establish a healthy network of contacts.
➢ Identify and contact individuals within a firm who are likely to return
your call.
➢ Outline the partner’s potential financial benefits from the alliance
(clearly a win–win opportunity).
➢ Learn to speak and understand the “language” of your partner.
➢ Continue to monitor the progress of the alliance.
37
Making the Most of a Board of Directors
8–38
The Board of Directors
• Contributions of Board of Directors
• Board of Directors
➢ Bring knowledge and experience
➢ The governing body of a corporation, elected by the
stockholders
❖ Review policy decisions
❖ Inside directors work for the firm
❖ Provide general direction
❖ Outside directors do not work for the firm
❖ Monitor the firm’s ethical behavior
❖ Mediate and resolve disputes among top management
• Duties of Directors
• Alternative: An Advisory Council
➢ Elect the firm’s officers (top management)
➢ Provides advice but does not have the fiduciary responsibility for the
direction of the firm.
➢ Approve top management’s strategic plans and policies
➢ Review top management’s performance
➢ Declare dividends
1–39
➢ May be less threatening and more cooperative than a board of
directors
8–40
Team Time – 5 minutes;
Key Terms
advisory board
partnership agreement
board of directors
partnership
C corporation
piercing the corporate veil
corporate charter
pre-emptive right
corporation
professional corporation
general partner
reciprocation
joint and several liability
S corporation (Subchapter S corporation)
legal entity
social capital
limited liability company
social network
limited partner
sole proprietorship
limited partnership
stock certificate
management team
strategic alliance
nonprofit corporation
unlimited liability
❖ Will you be Partnership? Corporation? Non-profit? B Corp?
❖ Will you need strategic alliances? What types? Jot down some
thoughts…
❖ What about a Board of Directors or Advisory Council?
Try to come up with a list of types of
people/industries/expertise/experience that you would like to
have as part of your small business
organizational test
8–41
3 BASIC FINANCIAL STATEMENTS
Understanding Financial Statements
1. Describe the purpose and content
of an income statement.
• Financial Statements (Accounting Statements)
➢ Reports of a firm’s financial performance and
2. Explain the purpose and content of a balance sheet.
resources

3. Explain how viewing the income statement and balance
sheets together gives a more complete picture of a firm’s
financial position.

• Basic Financial Statements
4. Use the income statement and balance sheets
to compute a company’s cash flows.
5. Analyze the financial statements using ratios to see more
clearly how decisions affect a firm’s financial performance.
➢ Income statement
➢ Balance sheet
10–45
Understanding the Income Statement
➢ Cash flow statement
10–46
The Balance Sheet
• Income Statement
• Balance Sheet
➢ A report showing a firm’s assets, liabilities, and
➢ A report showing the profit or loss from a firm’s
owners’ equity at a specific point in time
➢ Total Assets = Debt + Owner’s equity
operations over a given period of time.
➢ “How profitable is the business?”

Helps determine a startup’s financial requirements
Assesses the financial implications
of a business plan
Sales (revenue) – Expenses = Profits (income)
– Revenue from product or service sales
– Costs of producing product/service (cost of goods sold)
– Operating expenses (marketing, selling, general and
administrative expenses, and depreciation)
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
– Financing costs (interest paid)
– Tax payments
10–47
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
10–48
The Cash Flow Statement
Profits Versus Cash Flows
• Cash Flow Statement
• Accrual-Basis Accounting
➢ Matches revenues when they are earned against the
➢ A financial report showing a firm’s income (cash)
expenses associated with those revenues.
when it is received and expenses when they are paid.

Cash flows from normal operations (operating activities)

Cash flows related to the investment in or sale of assets
(investment activities)

Cash flows related to financing the firm
(financing activities)




Sales reflect both cash and credit (noncash) sales.
Inventory purchased on credit is a noncash expense.
Depreciation is a noncash expense.
Income tax is accrued and not entirely expensed.
• Cash-Basis Accounting
➢ Reports transactions only when cash is received or a
payment is made.
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
10–49
Key Terms
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
Key Terms
accounts payable (trade credit) accounts
receivable
accrual-basis accounting
current ratio
debt
debt ratio
income statement (profit and loss
statement)
interest expense
owners’ equity
profit margins
profits before taxes (taxable profits)
accrued expenses
depreciable assets
inventory
retained earnings
accumulated depreciation
depreciation expense
liquidity
return on assets
balance sheet
dividend
long-term debt
return on equity
cash
financial leverage
long-term notes
short-term notes
cash-basis accounting
financial statements (accounting
mortgage
total asset turnover
cash flow activities
statements)
net fixed assets
working capital cycle
cash flow statement
fixed assets (property, plant and equipment
[PPE])
gross fixed assets
net profits
gross profit
operating profits
common stock
cost of goods sold
current assets (working capital) current debt
(short-term liabilities)
10–50
operating expenses
operating profit margin
other assets
10–51
© 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
10–52
Some Sources of Equity
Where does the money
come from? continued








Angel Investors
Personal savings
Friends and family members
Angels
Partners
Corporations
Venture capital companies
Public stock sale
Simplified registrations and exemptions
Venture Capital Funds
• More than 700 venture capital firms operate across the
U.S.
• Most venture capitalists seek investments in the
$3,000,000 to $10,00,000 range in companies with
high-growth and high-profit potential.
• Business plans are subjected to an extremely rigorous
review – less than 1 percent accepted.
55
56
Corporate Venture Capital
FLOW OF VENTURE CAPITAL
VENTURE CAPITAL
FIRMS
TAKEDOWN
INVESTORS
MoneyGatekeepers 1%
Annual Fee
Limited Partners
• Pension Funds
• Insurance
Companies
• Corporations
• Foreign
Endowments
• Individuals
DISTRIBUTION
• Funds
of Funds
Return
of
Principal & 80%
of Capital Gains
PORTFOLIO
COMPANIES
Money
2-3% Annual Fee
General Partners
Entrepreneurs
20% of
Capital Gains
IPOs/Mergers/A
cquisitions
Equity
Unrealized
RESIDUAL
57
Accelerators
• New trend in funding? Smaller amounts (now
growing)
• Do more than incubators (house/share
services)
• Strategic support, access, beyond shared
overhead
• Investment – fill void left by VC’s? Connected
to VC?
• Competing with Angels? More formal?
• Y COMBINATOR, TECHSTARS,
LAUNCHBOX DIGITAL, DREAMIT
59
VENTURES, EXCELRATE LABS,
COUNTLESS OTHERS (BY NICHE)
• 6-8 percent of all venture capital
investments come from corporations.
• About 300 large corporations across
the globe invest in start-up companies
(they are growing…)
• Capital infusions are just one benefit;
corporate partners may share
marketing or technical ex …
Purchase answer to see full
attachment

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 30% with the discount code ESSAYSHELP