Your friends have been thinking of starting a business. After carefully listening to their concerns, give them your best advice. For each scenario below, answer the following questions: - Which business structure should they adopt for their new business? · Explain your answer and state the costs and benefits of your advice.
Your friends have been thinking of starting a business. After carefully listening to their concerns, give them your best advice. For each scenario below, answer the following questions: - Which business structure should they adopt for their new business? · Explain your answer and state the costs and benefits of your advice.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Answer this for me mate. Much appreciated.
Transcribed Image Text:Your friends have been thinking of starting a business. After carefully listening to their
concerns, give them your best advice.
For each scenario below, answer the following questions:
- Which business structure should they adopt for their new business?
· Explain your answer and state the costs and benefits of your advice.
Transcribed Image Text:Scenario 1
Jayden, Andrew, and Mateo have been close friends since they met freshman year in
college. They all graduated last year- Jayden with a degree in Computer Science, Andrew
with a degree in Graphic Design, and Mateo with a degree in Business Administration. All
three are computer whizzes and have worked part-time through high school and college
fixing computer problems. Each has approximately $50,000 in savings for this business
venture. They have been talking about starting a computer company (JAM Computer
Solutions) in their local town to help businesses and individuals with computer problems
or those who need help developing and designing web sites. In doing research, Jayden
found that there are only two other computer companies in their town of 100,000 people,
and neither one will do both web design and computer hardware/software
troubleshooting.
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