Assignment Introduction to Business - 1344 Words

Assignment Content | Chapter 1 | First Question | Chapter 2 | Second Question | Chapter 2.1 | Characteristics of â€Å"Partnership† | Chapter 3 | Third Question | Chapter 3.1 | Characteristics of â€Å"Business Environment† | Chapter 3.2 | Characteristics of â€Å"Porter’s Five Forces† | ADIL ZHAXYLYKOV TP029709 UCFF1207(G2-T2) BM004-4-0 ITB 1. What would be the aims and objectives of the business Luke is planning to implement after graduation? The main aim of the Luke’s business idea is to provide lessons to people especially older people, on how to use the internet and e-mail. He would like to eliminate the â€Å"fear† of going back into the workforce among older people and has decided that he will provide hands on experience of the†¦show more content†¦Disadvantages of â€Å"Partnership†: * Unlimited liability; * Decision making is not easy; * Business continuity is not ensured; * Limited expansion ; * Share of control; * Profit sharing. I’ve just explained main characteristics of â€Å"Partnership† even if it has some disadvantages I consider that this type of organization most appropriate for Luke’s project. As we know he feels lack of business knowledge and also fears that he might not have sufficient funds to start up that’s why he anyway needs partner’s support. (502 words) 3. In your opinion, what forces in the business environment could potentially affect Luke’s business? We know that the main idea of Luke’s business project is providing IT lessons by his self, however, he is going to set up this project in partnership with his housemate Eric although that type of organization is most appropriate it has some forces which could potentially affect to his business. A business doesn t exist in a vacuum: environmental forces can affect businesses positively by driving sales, or they can cause negative effects by increasing the cost of goods sold or by increasing a business s overhead. A business depends upon its ability to generate a profit despite the external factors affecting it. While most environmental forces may be outside of a company s control, it can still succeed as long asShow MoreRelatedIntroduction Of Business Law Coursework Assignment1717 Words   |  7 PagesIntroduction to Business Law Coursework Assignment Question 1 Part 1: In the English system, there are two laws that have a huge and fundamental impact on the English law. These two laws are the most common type of laws that are carried out within the court, either in Crown Court or the Magistrate’s Court. Depending on the seriousness of the damage caused by the breaking the law, not all prosecutions are carried out in the Crown Court. 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