This website uses cookies to ensure you have the best experience. Learn more

Sole Proprietorship Organization Essay

1353 words - 6 pages

Table of Content

No. | Topic | Page Number |
1 | Planning | 2,3,4 |
2 | Organizing | 5 |
3 | Leading | 6 |
4 | controlling | 7 |
5 | Conclusion | 8 |

Chapter One: Planning
Gadget Importer Express: It is a sole proprietorship organization. There is only one owner of this organization. All the decision will be taken by the owner. He will take all the risk and he will enjoy the profit.
Objective: The primary objective of Gadget Importer Express is to earn profit by delivering superior product to its customers. Customer will order the product from different e-commerce site like “Amazon”, “E-Bay”, and “Alibaba” etc. For them will will import the product and deliver it to ...view middle of the document...

Usually these type of product is found in the Amazon, EBay etc. websites. Here a list of gadget is given below-
Product | Features |
| Virtual Glass Can Show video It’s like Google glass |
| Multipurpose pen Low price Attractive gadget |
| Mobile phone keeper New design Can be used in Car Low price |
| Tech Wallet Keep safe the gadget Used as Card holder Low price |
| Cigar Box Attractive design Low price |
| Power bank 10000 Mah Stylish looking |

Marketing Planning:
Market Segmentation: We will segment our market based on Demography.
Target Customer:
AGE | 15 to 30 |
GENDER | Male & Female |
EDUCATION | For any level of education |
RELIGION | For all religious people |
INCOME | Middle class & Upper Class |
OCCUPATION | Students and Job Holder |

Marketing Communication: We will communicate our product through online media. We will use different online media to communicate our product. For example we will use Facebook ad, Different webpage etc.
Financial Planning: As it is an SME the capital is small. So I will personally invest money. After the expansion of the business I will take loan from the Banks as an SME enterprise.

Chapter 2: Organizing
Registration: As a SME will take a trade license from local authority. It will give a legal entity of my organization. I will also open a bank account for the name of Gadget Importer Express.
Hierarchy: Here an organizational hierarchy is given

Since it a SME type organization I will appoint less people to keep the cost minimize. Once my organization is running well I will appoint more employee for the business. There will be three department for the organization. One department will take the order from the customer. Customer will place the order through Facebook fan page. The manager horizontally communicate will importer manager. Importer will import the product and deliver it to Manager Distributor. The task of distributor is deliver the product to respective customer.
Reporting: Who will report to whom is very much important? All the managers of Gadget Importer express will report to the CEO.
As a business graduate I will handle the marketing activities of my organization. I will use website like Facebook and online newspaper to public of my business firm.
Human Resource: I will appoint 3 employees for each of my department. The applicant should be a business graduate. Any experience about M-Commerce will be preferable. I will post the job circular to Bdjobs.com. I will take personal interview and select the employee.
Authority and Responsibility: As we know authority and responsibility should be equal. Specific authority and responsibility should be assigned to the employee. Order manager will have all the authority to take decision regarding his department. CEO will just suggest. In the same way Manager Importer will take decision of his department and so will the manager distribution.
Business Partner...

Other Papers Like Sole Proprietorship Organization

Beginning of Lit1 Task 1 Essay

748 words - 3 pages Sole Proprietorship: Sole Proprietorship is a very common form of small business organization. Benefits include having complete and total control as to how the business is run, marketing, hours, as well as the immediate dissolution of the business. Disadvantages range from personal liability for the business. A sole proprietor is also held responsible for all taxes for the business as personal income. Liability: A sole proprietor is held

Legal Forms of Business Paper

942 words - 4 pages . In this paper, I will identify scenarios in which each of these forms of business would be the preferred form. For each scenario, I will justify why the corresponding business form is preferred. The first legal form of business I want to indentify is the sole proprietorship. “A sole proprietorship is the simplest form of business organization. The owner of the business, the sole proprietor, is the business. There is no separate legal entity

Acc 561 Week 2 Paper

1132 words - 5 pages Business Organization Based on the four choices available the sole proprietorship is the only business type that makes sense for my business consulting company. I would be the only owner of the business; the main issue that I am very concerned about is that with a sole proprietorship my personal assets would be at risk if my business were to go under or if I were to be sued. I am willing to take this risk at this point because I do not want to be

Legal Structure

1080 words - 5 pages , disadvantages, tax implications, legal implications, and accounting implications of each type of business to decide an optimal structure for a new small business proposal, named “The Green Korean Cuisine”. Sole Proprietorship “A sole proprietorship is an unincorporated business owned by one individual (Anderson, Pope, Kramer, Flowler, Joseph, Hulse, Luna, & Schadewald, 2012, p.2-2).” Sole proprietorship is easy to establish new businesses with

Lit 1 Task 1

1754 words - 8 pages liability company must file articles of organization with the state, it has a more flexible management composition than a corporation. The flexibility originates from the phrase “unless otherwise provided for in the operating agreement.” This allows business owners to create a structure modified to the business owner’s requirements. An LL C has different tax options. It can choose whether it wants to be taxed as a sole proprietorship, partnership, S

Conzditions for Monopoly

854 words - 4 pages Types of Ownership Structures The most common ways to organize a business:        Sole Proprietorship Partnership Limited partnership Limited Liability Company (LLC) Corporation (for-profit) Nonprofit Corporation (not-for-profit) Cooperative. Sole Proprietorships and Partnerships For many new businesses, the best initial ownership structure is either a sole proprietorship or -- if more than one owner is involved -- a partnership. Sole

Business Organizations

630 words - 3 pages 1. Three forms of business organizations are sole proprietorship, partnership and corporation. The sole proprietorship is the least regulated of the three. One person who keeps all of the profits owns it. The owner is also financially responsible for the business and its debts because there is not a division between personal and business assets and income. The life span of this type of business is limited to the life span of the owner and the

Business Models, Systems and Organization

647 words - 3 pages . This type of organization typically starts as an LLC company. Sole proprietorship is a without a corporation, it is a business solely owned by one person. It is very easy to start and maintained by the owner, but the entire liability is on the owner, and it is a very high risk organization to operate. With sole proprietorship the income generated is also added to the owner's personal taxes, so people who have businesses like an electrician

Businesses And The Business Type They Fall Into

1022 words - 5 pages . It is a very large company compared to the rest with large profits, and it has a lot of available information. While the ideas behind it were started by the same man that it is named for, it is not a sole proprietorship based on this description from www.alcoinc.com: This is the simplest and the most widely used structure for business. It is the least regulated type of the various business structures. For tax and legal purposes the business is

Management

1720 words - 7 pages common purpose, generating profits. The interim contentions, methodologies, indifferences, time differences and dynamics in general, will be covered in the system as well. In a sole proprietorship the manager or owner draws up the plan. A plan is not something that is developed suddenly and then forgotten. Dynamic organization is a core part of your business large or small. Planning is a very intense part of the process, it includes

Statement Analysis

1328 words - 6 pages Comprehensive Statement Analysis Business organizations come in different forms, and although they all have financial gains and losses, not all have the same rules and regulations that need to be complied with when preparing financial statements. The Advantages and Disadvantages of the Different Forms of Business Organization Sole proprietorship is a business organization that is owned by one individual. The advantages to a sole

Related Essays

Business Oportunity Essay

594 words - 3 pages hoping that this will help boost the lagging economy, as well as build trust in the government that is in place at the present time. Starting a small business will encompass many decisions about the new business. Deciding whether the organization will be sole-proprietorship, partnership, c-corporation, or s-corporation. Considerations of the financial statements that will be involved with each type of organization will be presented. Additionally

Differences Between Sole Proprietorship And Partnerships

732 words - 3 pages . However, a partnership may continue to exist after a partner dies or decides to withdraw, provided the partnership agreement contains procedures for the continuation of the organization. The partnership agreement may stipulate the manner in which the partnership should continue after a partner withdraws, retires or dies.Lastly, in sole proprietorship there will be difficulty raising capital since the owner cannot offer shares to potential investors

Small Business Essay

1094 words - 5 pages of business organization is the sole proprietorship. In this style, the business is typically owned by one person. The advantages of a sole proprietorship are autonomy, independence and full decision-making abilities. Since there is one owner, there are no shareholders or boards of directors to work with in steering the direction of the organization. The downside of a sole proprietorship is that all tax implications fall on the owner. This

Finp 5808 Essay

404 words - 2 pages you face if you run into trouble. There’s not a single forms of business organization that will guarantee you a complete protection from creditors going after your personal assets in a case of a bankruptcy if the business debt you were liable did not get pay off in the bankruptcy. 2. How does a firm's bankruptcy affect the owner of a sole proprietorship? Since there’s no legal distinction between the owner and the business