Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 5, Problem 5DWS
Summary Introduction
To discuss: Formation of the company W, who belongs to it and the way it operates.
Introduction: When several people pool their resources to work together and have mutual interest and gains and such business is owned and operated by the user of the business, it is known as cooperative.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
1. Describe the type of cooperative and the nature of operations of CASCOFAMCO?2. What is the reason why this cooperative encountered financial distress and losses and discuss how did they recover and grow?3. Discuss what are the inventions made by the government to help the cooperative grow?4. Based on your analysis of this cooperative, what is the most important characteristic of the members that made this cooperative a success and why?
2. Can we call someone an entrepreneur if they bought an ongoing business from someone else or took over the operations of a family business from their parents? Disscuss
Which business organization entity is preferable for the following business: local family owned and operated farmer’s market in Small Town, USA; purchases produce from local farmers/growers; parents are financing venture; five children are to run business and conduct daily operations? Explain your answer.
Chapter 5 Solutions
Understanding Business
Ch. 5.1 - Prob. 5.1AQCh. 5.1 - Prob. 5.1BQCh. 5.1 - Prob. 1TPCh. 5.1 - Prob. 2TPCh. 5.2 - Prob. 5.2AQCh. 5.2 - Prob. 1MEDCh. 5.2 - Prob. 3TPCh. 5.2 - Prob. 4TPCh. 5.3 - Prob. 5.3AQCh. 5.3 - Prob. 5.3BQ
Ch. 5.3 - Prob. 5TPCh. 5.3 - Prob. 6TPCh. 5.3 - Prob. 7TPCh. 5.3 - Prob. 8TPCh. 5.4 - Prob. 5.4AQCh. 5.5 - Prob. 5.5AQCh. 5.5 - Prob. 5.5BQCh. 5.5 - Prob. 5.5CQCh. 5.6 - Prob. 9TPCh. 5.6 - Prob. 10TPCh. 5.6 - Prob. 11TPCh. 5 - Prob. 1CTCh. 5 - Prob. 2CTCh. 5 - Prob. 3CTCh. 5 - Prob. 4CTCh. 5 - Prob. 1DWSCh. 5 - Prob. 2DWSCh. 5 - Prob. 3DWSCh. 5 - Prob. 4DWSCh. 5 - Prob. 5DWSCh. 5 - Prob. 1TITCh. 5 - Prob. 2TITCh. 5 - Prob. 1VCCh. 5 - Prob. 2VCCh. 5 - Prob. 3VC
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- 1. Setting Up a Business Your 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 for advice 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 with your recommendation for Chocolate-By-Design's business structure.arrow_forwardDefine the following types of organizations and give an example of each. Also, how are profits taxed in each organization? Sole proprietorship Partnership LLC S-Corporation C-Corporation Which of the above organizations do you think would be the best for a start-up? Why?arrow_forwardWhat are firm resources and capabilities, and what information does VRIO provide about them?arrow_forward
- 1. For each of the following existing businesses determine which type of ownership each represents (sole proprietorship, partnership, corporation, or cooperative). a. Nestle b. Twitter c. Gay Lea Foods d. Mike's Submarines e. The Walt Disney Company f. Adidas g. Proctor & Gamble h. Andy's Lawn Care i. Ben & Jerry's j. Canadian University Press k. Hewlett-Packard I. Lina's Catering m. Google n. Wireless Nomad o. Kraft p. M.C. Automotive 9. еВay 2. Select one of the ownerships listed above and provide detailed information about the owners and how/why the business began.arrow_forwardWhy are not-for-profit organizations different from most businesses? Are there any similarities between a goods-producing business and a not-for-profit organization?arrow_forwardAfter reviewing the case, you must provide a critical assessment in your responses to the following questions, incorporating examples from the case, relevant information from the course notes and scholarly literature relevant to entrepreneurship. • A. Discuss minimum four (4) characteristics that Davidson demonstrated that are relevant to entrepreneurs as discussed in the course. B. State two (2) benefits of entrepreneurship and two (2) drawbacks of entrepreneurship as discussed in the course and evident in the case. Relevant examples and links to the case must be included to support the discussion. Incorporate scholarly literature. Discuss four (4) strategies that Davidson could have utilized to enhance creativity as discussed in the course which will be applicable to the case. Relevant examples must be included to support the discussion. B. Discuss the five (5) categories of intellectual property rights presented in the course and demonstrate how the founder of CoolPeopleCare could…arrow_forward
- b. Discuss how can an entrepreneur effectively balance the need to innovate and take risks with the need to manage resources and ensure profitability in the long term?arrow_forwardYou have been employed at Small Enterprise Finance Agency (Sefa) as a mentor for up-and-coming entrepreneurs. The client comes to you requiring to be mentored in starting his business. However, he has no idea where to start. As a mentor of prospective entrepreneur provide and advice about all the aspects the client has to take into consideration when starting a business venturearrow_forwardMr. 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 profitsarrow_forward
- 6. Describe each of the four types of business partnerships.arrow_forwardAssuming that you are going to venture into one of Small & Medium Enterprises (SME)in line with the food industry in your hometown. Discuss 3 (THREE) major externalforces and 3 (THREE) internal forces that you need to consider for your future business.arrow_forwardPick a business that you know of (can be a small business in your neighborhood or a large corporation that makes a product you bought in the past), do a little research about it, and answer the following: Describe the goods or services the business sells and where it does business. What kind of model is this company using? (remember, a company could use more than one model; use the models described in the introduction above). What type of business is this (sole proprietorship, partnership, or corporation)? How did you find out? Describe how you researched information about this company.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning