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MGTA01H3 Chapter Notes -Sole Proprietorship, Risk-Seeking, Target Market

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carrielau918
1 May 2023
School
UTSC
Department
Management
Course
MGTA01H3
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MGTA01H3 Full Course Notes
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MGTA01H3 Full Course Notes
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Document Summary

***chapter 8: planning & organising the business: simple forms of ownership. Written document that lays out [black and white; a structured fashion]; all of the things that you need to dom have to happen, if they business you are planning is to succeed. Like a to do" list; a lost of resources and supplies you may need to buy. Need organization, time, effort, energy, and effort. Have internal locus; need to achieve; risk tolerant, not risk seeking. Sufficient financial capital to allow the people to carry out the plan: the people. Give the widespread perception that business people are technocrats. How many people will you need: the market. Who will buy your product and why. The business function concerned with interacting with customers and potential customers. Identify people of need and proposes to offer. A growing number of potential buyers: potential buyers that are willing to spend; Existing suppliers that are unsatisfactory in some way.

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Related Questions

A diversified company's business units exhibit good financial resource fit when

A.the resource requirements of each business exactly match the company's available resources.

B.each business is a cash cow.

C.a company has the resources to adequately support the requirements of its businesses as a group without spreading itself too thin and when individual businesses add to a company's overall strengths. each business is sufficiently profitable to generate an attractive return on invested capital.

D.each business unit produces large internal cash flows over and above what is needed to build and maintain the business.

, and 1. When an organization has the right combination of that makes full use of its resources and opportunities in achieving its goals it is said to function as a high-performance work system a) capital, cashflow, managers b) customers, cash, confidence c) recruiting, retention, union relations d) people, technology, structure e) none of the choices are correct

17) Gilbert is considering setting up a business. He likes some of the advantages of sole proprietorships, but is concerned about some of the disadvantages. He should consider all of the following except: a) c) difficulty in getting bank loans unlimited liability difficulty of liquidation limited managerial and financial resources difficulty of passing the business on to his heirs e)