1. Setting Up a BusinessYour friend, Olivia Graves, is going to start her own chocolate shop, called Chocolate-By-Design.Olivia is an expert candy maker and one of the city's top pastry chefs. Olivia has come to you foradvice on what type of business Chocolate-By-Design should be-a sole proprietorship, partner-ship, or corporation. Create a report comparing the three different types of businesses, along withyour recommendation for Chocolate-By-Design's business structure.

The decision to choose an appropriate form of business plays a vital role in the growth and success…

Answered: 1. Setting Up a Business Your friend,…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Mr. Imran and Mr. Salim are business partners. They often argue and disagree with each other when it comes to handling their business. Continuous conflict and differences in opinions among owners in a business could lead to which of the following? Business might become diversified Business might merge with another company Business might not continue Business might have more profits
Imagine you were to start your own business in Kleve, manufacturing small but smart household robots. Assume your business has developed a product currently superior to any competition. You have secured an initial manufacturing facility in Kleve-Kellen, with enough space to expand. However, the manufacturing process is complex. You have already convinced a number of very wealthy investors to meet your financing needs of the next two to three years, so there is no pressing need for going public yet. 1. Why would your business "go global" early on? And how would your startup business be positioned in a global market? 2. Please propose a likely sequence of steps, that your business has to take to achieve this sort of global ambition. Don't just name the steps but also elaborate on business resources you consider essential. 3. Please identify the three biggest challenges you expect to meet in the process of "going global"! Please be as specific as you can be, the more your analysis…
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