Question

Partnership form of organization has advantages and disadvantages. Note that different types of partnerships have been developed to minimize some of these disadvantages. Alternatively, an individual or company can choose the proprietorship or corporate form of organization.

Go to two local businesses that are different, such as restaurant, a retailer, a construction company, a professional office (dentist, doctor, etc) and find the answers to the following questions;

1. What form of organization do you use in your business?

2. What do you believe are the two major advantages of this form of organization for your business?

3. What do you believe are the two major disadvantages of this form of organization for your business?

4. Do you believe that eventually you may choose another form of organization?

5. Do you have someone to help you form this organization, (attorney, accountant, relative, etc)?

Answer 1

1. I will choose Profession

We all rely on professionals at many points of our lives – from dentists to teachers, from pension managers to careers advisers, from town planners to paramedics. We rely on professionals to be experts and to know what to do when we need them to.

The professions are for you if you want...

• an occupation which will help you to build your skills and develop your expertise in a field which interests you;

• to keep learning, be challenged and stay up to date with the latest developments in your chosen area;

• to solve problems, do good work, and be involved in making decisions which help to improve people’s lives.
• to earn high income.

2. Advantage of Profession

• get to know and work with professionals in real problem-solving situations.
• learn to work with and understand people at all levels of the employment environment.
• learn some of the many and diverse functions that professionals perform. In this way you may develop your own interests and abilities along certain channels. This experience will help you choose electives in your senior year.
• learn to know more about yourself. In a work environment you gain insights into your ability to work better as an individual or in a group-oriented career.

3. Disadvantages of profession

• Time and Expense
• Performance and Unattainable Goals

4. Of cousre i do beleive in choosing another form of organisation, most preferably i will choose retail business. Retail business help to boost business profits and provides more job opportunity. Retail marketing creates a healthy competitive environment between retailers. This benefits consumers because it helps to keep their costs down when purchasing products. Retail marketing also helps keep competitors aware of what the other is charging for the same product, so it allows retailers to adjust prices as necessary to stay competitive in the market.

5. yes