Benefits Of A Partnership Is The Trust Factor - 1604 Words

Much like a sole proprietorships, the creation of a partnership is relatively simple and doesn’t require a large amount of legal documentation, although it is slightly more than a sole proprietorship requires. Also, a partnership is taxed as personal income for each partner, not as a separate entity. That being said, each partner can deduct the losses of the business from their own personal taxes if it is a general partnership. This could be an option for the four brothers and their cousin, Xavier. This would make sure that the business is only run by the family and it gives everyone an equal say in the decision making of the farm. It also would help that the farm would be taxed only as personal income for each of them. Disadvantages The†¦show more content†¦Corporations are seen as separate legal entities by the government and are therefore taxed separately, twice during the year. The actual owners of the corporation are the shareholders that have invested into it and own stock in the company. The shareholders then elect a board of directors to run the company for them (Custom Text, pg. 265, 2015). Corporations can be either big or small, so big name companies like Walmart aren’t the only type of corporations out there. Advantages Since a corporation is owned by a group of shareholders, they are only legally liable for their initial investment in the company. If the company is sued, then the shareholders aren’t completely liable for all the damages as the company can be sued on its own as a separate entity. Another advantage for those that don’t hold stock in the company is that only shareholders are taxed on their income from the corporation, which comes in the form of dividends. In my current job, I send out the 1099-DIV forms for all of our shareholders as the company I currently work for is incorporated. These forms have to be filed with each shareholders tax return for the year. Another advantage to establishing a corporation is that, unlike the previous classifications given, â€Å"the business continues to exist even if a shareholder or director were to pass away,† as written in an article comparing the pros and cons of a sole proprietorship vs. a corporation (Nash, 2010).

Leadership The Organizational Leadership - 2540 Words

In every organization around the world there is always one constant factor that remains as a key determinant in the success of that organization, which is the organizational leadership. Without the proper leadership in place the chances of any organization being successful in the long run could become hindered. Leadership in itself is about more than just supervising a group of people, large or small, it is about being able to motivate and drive the people that comprise an organization to long-term productivity. Good leaders in an organization must be able to handle a wide variant of issues that can in essence become the wound that becomes infected and leads to that organizations death. For a leader to be prepared they must have a strong stance of what the core values of leadership entail as well as be able to use those values in not only envisioning a successful future but set the proper tone to follow a path to that future. Along the way leadership will be encountered by a multitude of obstacles that will have to be properly dealt with in order to achieve success. The following will discuss what skills a leader needs to overcome the various obstacles and lead to success within an organization. The topic of what leadership is has been discussed and argued over for many years and over 100 definitions of what leadership is have come to light. One of the reasons why there are so many ideas of what leadership is and what it takes to lead is from the various beliefs thatShow MoreRelatedOrganizational Leadership : Leadership And Leadership1568 Words   |  7 PagesConceptualizing Leadership Leadership is different in the eyes of each and every individual. What one person considers great leadership may be viewed by another as too demanding. Ultimately, time, place, situation, and people involved are considered some of the view variables for which type of leadership will be most effective. 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According to the text Organizational Behavior, â€Å"leadership is the process of developing ideas and a vision, living by values that support those ideas and that vision, and influencing others to embrace them in their own behaviors, and making hard decisions about humans and other resources† (Hellriegel Slocum, 2011). Regardless of what type of leader an individual is, their mainRead MoreOrganizational Management, Leadership, And Leadership2443 Words   |  10 PagesResilient Leaders that relate to Organizational Management and Leadership. The narrative concludes with three scriptures that group four feels sum up the responsibilities of a leader. Five Topics The five topics that group four chose from Resilient Leaders that relate to Organizational Management and Leadership are selfless service, integrity, leading by example, vision, and traits of wise leadership. Selfless Service. Dees (2013) stated, â€Å"resilient leadership is selfless service over time fromRead MoreLeadership And Culture Of The Field Of Organizational Leadership1058 Words   |  5 PagesLeadership and Culture Ethical Leadership According to research theories in the field of organizational leadership, â€Å"powerful leaders can have substantial impact on the lives of followers and the fate of an organization† (Yukl, 2006, p.340). Nevertheless, Heifetz (1994) points out, â€Å"there is no ethically neutral ground for theories of leadership, because they always involve values and implicit assumptions about proper forms of influence. The complexity of issues surrounding ethical and unethicalRead MoreToyota: a Glimpse of Leadership, Organizational Leadership, and Organizational Structure836 Words   |  4 PagesToyota: A Glimpse of Leadership, Organizational Behavior, and Organizational Structure Courtney Berry Organizational behavior is the study of application of individuals’ behaviors within structured groups within an organization (Robbins Judge, 2007). The field of study identifies behaviors within specific groups and individuals in organizations and how the structures of organizations play a role in behaviors (Robbins Judge, 2007). In the past several months, the leading company in the carRead MoreSituational Leadership Theory And Organizational Leadership1422 Words   |  6 PagesSituational Leadership Theory and Organizational Leadership Dwight D. Eisenhower said, â€Å"Leadership is the art of getting someone else to do something you want done because he wants to do it.† Leadership is the art of directing others in the pursuit of reaching a common goal or desired outcome. At the most essential level, a leader is a person who inspires, encourages and directs others toward fixed goals. Great leaders are able to motivate their team through the coaching, establishment, and setting

A Case Study and Strategic Management Of Wesfarmers

Question: Case study on Strategic Management Wesfarmers. Answer: Introduction: Strategic management refers to the development and implementation of the plan for conducting the business operations. In order to choose proper plan and strategy for the business operations, a business organization needs to identify the mission and vision at the beginning level. The objectives of the organization should be selected aligned with the mission and vision statement of the business. In this assignment, the strategic management planning of the Wesfarmers has been analyzed (Hill et al. 2014). Description of the business of the company and the details about the industry in which the company is operating has been analyzed in this report. The mission and vision of the company have been identified and specific objectives have been selected for the organization. Based on the mission, vision and objectives of the business organizations some recommendations are given in the report for improving the strategic management plan of the organization. Business Description: The organization was established in the year of 1914 with the agricultural merchandise and services to the Western Australias rural areas. In the later period, the company started diversifying of the product lines. At the beginning level the organization they were providing just hardware, forest products and home improvement products. The company started the retail business in the year of 2007 (Wesfarmers 2016). The business operations of Wesfarmers are divided into two major segments. One is for the retail business and the other one for the remaining operations. The retail business of the company is further subdivided into four categories. They are Coles (food, fuel and liquor), home improvement and office supplies, clothing and Kmart (discount departmental store and automotive service retailer). The remaining operations are insurance, chemicals, industrial safety equipments (Wisnz.co.nz 2016). The main business of the organization is the retail business (Ciulla 2014). Acquirement o f the products of this company by the Coles retail group in 2007 has made Wesfarmers the one of the largest retailers in Australia. Kmart is the departmental store which is operating in New Zealand and Australia. The organization is the largest and leading industrial safety requirements providers in New Zealand (Wesfarmers 2016). Industry Description: The retail industry in New Zealand is increasing in a high speed. In the last year, the retail industry of this country faced a positive growth. The economic recovery contributed a great confidence to the customers and the retail business companies. As a result of this scenario, the relationship of the retail companies and the customers became stronger. Although the customers like to buy the local products, but many overseas companies are offering free delivery of their products (Hitt et al. 2012). This is the reason of increasing the market competition for the domestic retailers of the country. Internet retailing is the main reason of the increased market competition in the retail sectors of the whole world as well the market of this country. The common people of the present world have become busier with their working life for hic they dont have enough time of shopping by going to the shops. This is the main reason of high priority of the internet retail market (Wisnz.co.nz 2016). A t the present situation, there is no sign of slowing the popularity of the internet retail market. Wesfarmers and all other business organizations are using the internet technology as their business operating platform. Currently the industry is in high demand and in future it will face a high growth. In order to get the desired level of success in this industry the companies in this industry have to pay proper attention in the area of forecasting about the future market trends and the strategy to achieve the competitive advantages. The product quality and price are the two weapons of the companies for competing with the other companies in the retail sector. Mission and Vision: The company has the aim of best practicing towards the ethical considerations of the business operations. The company wants to deliver satisfactory level of returns to the shareholders. The company has a good reputation in the countries in which it is operating the business operations. They want to improve their reputation in the area of the ethical practices. It has the mission of having the highest ethical standards among the companies which are operating in the retail industry of New Zealand (Wesfarmers, S. 2016). In order to ensure the satisfactory returns to the stakeholders, Wesfarmers has the objective of developing a unique, disciplined and high focused working culture in their organization. The ethical standard of the company is not about only the value of the shareholders (Swayne et al. 2012). The company is also concerned about the value of the customers, employees, suppliers and other community partners. In the area of the ethical practices, the company has the responsibi lities of social and environmental development. The company also has the aim of total economic development of the country through their business. It has high level of concern about the development of the aboriginal people of Australia and New Zealand (Wisnz.co.nz. 2016). The companys mission is to provide the platform for having equal opportunity of people who are working in the workplaces of the organization. Objectives: In order to get succeeded in the missions and vision, the company has to develop a set of specific objectives. In order to provide the right value to the shareholders, the first objective of the company is develop a proper organization culture in their workplaces (Purce 2014). A unique corporate structure has to be developed by the company. The unique culture should be used by all the sections of the company throughout the different countries in which it is operating now. In the corporate work culture of the company, high level of information transparency is required. The employees of the organization has to ensure that the all the business operations are conducting by maintaining all the ethical considerations applicable in the business environment (Storey 2014). The main objective of the company is to provide the best quality products to the customers. In order to get succeeded in the business, the company needs to focus in the product quality and information delivery to the customers. The customers must get the right information regarding the products (Budhwar and Debrah 2013). The ethical practices are concerned with the CSR strategies performed by the business organizations. As the company has the vision of having the highest standard of the ethical practices, the management of the company needs to focus in the CSR strategies. The well beings of the employees, customers, society and environment are the important factors of the CSR strategies (Eden and Ackermann 2013). The objective of the company is to provide the best beneficial services to the employees and the consumers. The objective of the company is to develop a strong and sustainable HRM and marketing strategy. In order to provide the satisfactory working environment to the employees, the company should ensure the work place health and safety requirements for the employees. The employees well beings and motivational factors should given high priority for practicing the high ethical standards (Rothaermel 2015). The objective of the company is to work for the sustainable development of the society and the environment associated with the area in which it is operating the business operations. In this context, the objectives are to minimize the carbon emissions, improve the water and energy efficiency (Boyd et al. 2012). Recommended Strategy: In order to fulfill the objectives of the company, the management needs to develop a supervisory unit for observing the activities of the employees and the workplace environment. The supervisory unit will also be responsible for the measuring the level of performance of the employees. Depending on the analysis of the report provided by this unit, proper actions need to be taken by the management (Renwick et al. 2013). In case of good performance of the employees, they should be rewarded by the employers. Team development and transparent working style is highly required for achieving the objectives of the company. Relevant information should be shared with the team members and the related employees for keeping them updated about the work progress and other related information (Vogel and Gttel 2013). In this way the employees of the organizations will be able to share the corporate goal for achieving the objective of the organization. The leadership style is very important for the effective handling of the human resource of the company. The leaders are the responsible persons for taking the decisions for the business operations. The leadership style should be employee oriented. The leaders should treat the employees in a good way and should give them priority in the decision making system of the company (Rahm and Riha 2012). The product quality should be certified by the third party. In this context, the company should use the ISO standard for ensuring the product quality. The ISO certified products will be able to attract more customers towards the products and services (Jiang et al. 2012). The company should get the standard certificate from the International Organization of Standardization. In order to ensure the social development, the company should participate in the social development programs jointly with the local social worker organizations. They should sponsor the games and social or cultural programs. In order to practice the environmental development, the company should use the energy efficient devices or technical equipments in their workplaces (Priem and Carr 2012). In the production strategy, they should ensure the lowest carbon emission. This can be done by using the innovative technical equipments. Conclusion: Strategic management is required for the achievement of the competitive advantage in the age of intense market competition. It is required for smoother operations of the business activities. Wesfarmers is one of the most popular retail business organization and currently operating mainly in Australia and New Zealand. The company is trying to improve the brand image by concentrating in the area of ethical considerations. The mission of the company is to provide the best services to the customers. The company is also concern about the well-beings of the employees. They are also concern about the social and environmental development. In order to meet these requirements for fulfilling the mission and vision of the company, it needs to follow the recommended strategy as described in this report. The company needs to develop a good HRM strategy for the management of the workforce. In the area of the CSR strategy, they have to think about the use of the energy resources and should reduce by the use of the energy efficient technical equipments. The company also needs to focus in the area of leadership style and motivational factors for the employees. References: Boyatzis, R. and McKee, A., 2013.Resonant Leadership: Renewing Yourself and Connecting with Others Through Mindfulness, Hope and CompassionCompassion. Harvard Business Press. Boyd, B.K., Haynes, K.T., Hitt, M.A., Bergh, D.D. and Ketchen, D.J., 2012. Contingency Hypotheses in Strategic Management Research Use, Disuse, or Misuse?.Journal of Management,38(1), pp.278-313. Budhwar, P.S. and Debrah, Y.A. eds., 2013.Human resource management in developing countries. Routledge. Chhokar, J.S., Brodbeck, F.C. and House, R.J. eds., 2013.Culture and leadership across the world: The GLOBE book of in-depth studies of 25 societies. Routledge. Ciulla, J.B. ed., 2014.Ethics, the heart of leadership. ABC-CLIO. Eden, C. and Ackermann, F., 2013.Making strategy: The journey of strategic management. Sage. Hill, C., Jones, G. and Schilling, M., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Hitt, M., Ireland, R.D. and Hoskisson, R., 2012.Strategic management cases: competitiveness and globalization. Cengage Learning. Jiang, K., Lepak, D.P., Han, K., Hong, Y., Kim, A. and Winkler, A.L., 2012. Clarifying the construct of human resource systems: Relating human resource management to employee performance.Human Resource Management Review,22(2), pp.73-85. Priem, R.L., Li, S. and Carr, J.C., 2012. Insights and new directions from demand-side approaches to technology innovation, entrepreneurship, and strategic management research.Journal of management,38(1), pp.346-374. Purce, J., 2014. The impact of corporate strategy on human resource management.New Perspectives on Human Resource Management (Routledge Revivals),67. Rahm, B.G. and Riha, S.J., 2012. Toward strategic management of shale gas development: Regional, collective impacts on water resources.Environmental Science Policy,17, pp.12-23. Renwick, D.W., Redman, T. and Maguire, S., 2013. Green human resource management: a review and research agenda*.International Journal of Management Reviews,15(1), pp.1-14. Rothaermel, F.T., 2015.Strategic management. McGraw-Hill. Storey, J., 2014.New Perspectives on Human Resource Management (Routledge Revivals). Routledge. Swayne, L.E., Duncan, W.J. and Ginter, P.M., 2012.Strategic management of health care organizations. John Wiley Sons. Verba, S., 2015.Small groups and political behavior: A study of leadership. Princeton University Press.

Writing with an Informative Aim free essay sample

â€Å"Writing with an Informative Aim† (Lesson 9) There are many benefits to taking English Composition 1. For example, it has been many years since I have been in school and I am a bit rusty around the edges. This course helps me to improve my writing skills and structure sentences properly. It gets me back in the swing of rigorous writing, which is what will be demanded of me throughout my college courses. It provides me with all of the tools and skills necessary to be successful with writing a good paper and for this it is of great value to me. When I decided to go back to school to pursue a Bachelor’s Degree in Business Administration with a focus in Accounting, I wasn’t sure what type of course to take. I did know, that I would be taking online courses as opposed to on campus courses because it is the most fitting method for my already hectic schedule. We will write a custom essay sample on Writing with an Informative Aim or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page What I didn’t know was the methods of courses available and which of these would best suit my needs. I read information provided by my college that differentiated both methods and I asked for guidance from my academic advisor who suggested I try both to see which I preferred best. I now am taking one course of each and have drawn my own conclusion to the advantages and disadvantages of the guided study course. Guided study is less interactive and more self-learning which for me is an advantage because the less I have to interact throughout the week the better. Guided study requires a written assignment due each week while online requires a written assignment due every other week however online also requires you to participate in a discussion forum throughout the week and interact with other students. My day-to-day work is demanding and I find the online course more time consuming for this reason. During my research, I saw posts from other classmates that believe online study is a good way to increase your GPA because points are awarded as long as you participate in the forums. While this may be true, I find convenience in only having one assignment due on Sunday’s. This allows me to manage my time more effectively and without that, it is harder to maintain the course work and easier to fall behind. If you are disciplined to stay on pace with little to no proctor contact, guided study is great. If you need the additional interaction and structure offered by online courses this method would suit you best. I believe education is one of the best attributes you can give yourself so for me my dedication provides me the discipline I need to stay on track. While there are pro’s and con’s to essentially every decision the best way to learn which decision is best for you is by trial and error. I find more advantages in guided study the more I partake in the online course, but if I had not tried them both I would not be able to sufficiently weigh the differences and conclude this myself.