business 101-thursday

business 101-thursday - Week 1 Issues and provisions in...

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Week 1 Issues and provisions in articles of partnership 1. Name, purpose, location 2. Duration of agreement 3. Authority and responsibility of each partner 4. Character of partner (i.e. general or limited, active or silent) 5. Amount of contribution from each partner 6. Division of profits or losses 7. Salaries of each partner 8. How each partner is allowed to withdraw? 9. Death of partner 10. Sale of partnership interest 11. Arbitration of dispute 12. Required and prohibited actions 13. Absence and disability 14. Restrictive covenants 15. Buying and selling agreements Elements of corporation -board of directors Inside directors -stock ownership Preferred stock Common stock The world of work *are salary and advancement opportunities the most important considerations in evaluating a job offer? Other types of ownerships - Joint ventures- a partnership established for a specific project or a limited time -s-corporations- a corporation taxed as thought it were a partnership with restrictions on shareholders -Limited liability companies (llc) - a form of ownership that provides limited liability and taxation like a partnership but placed fewer restrictions on members -Cooperatives (co-op) - an organization composed of individual or small businesses that have banded together to reap the benefits of belonging to a larger organization How do corporations grow? -expanding operations -new product development -market expansion -mergers -acquisitions -leveraged buyouts (LBO)
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Mergers-when 2 companies (usually corporations) combine to form a new company Acquisition- when 1 company purchases another, generally by buying most of its stock -the acquired company may become a subsidiary of the buyer Leveraged buyouts (LBO) - a group of investors borrow money from banks and other institutions to acquire a company (or a division of one) -the assets of the purchased company are used to guarantee repayment of the loan Next week: review p.164-168 and 157, ch1 business and economics, assign business week assignment, start-financial statement case study, start-stock market project For Friday: begin reading leadership 101 Week 2 Financial statement case study part 1 - first key deliverable - due next week Components of an Annual Report - letter to shareholders - the business review - the financial review o management’s discussion and analysis o financial statement balance sheet income statement statement of change in shareholder’s equity The nature of business- to earn profits by providing products Tangible products- cars, food, clothing Intangible products- services, ideas Business vs. nonprofit organizations Nonprofit organization
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- Provides products, especially services, for some purpose other than profits. Ex-salvation army Business- an individual or organization that tries to earn a profit by providing products that satisfy people’s needs. Ex-coca-cola - The goals of business - for-profit sector o profit the difference between what it costs to make and sell a product and what the
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This note was uploaded on 04/15/2008 for the course BUSN 101 taught by Professor Finnin during the Fall '07 term at Drexel.

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business 101-thursday - Week 1 Issues and provisions in...

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