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Management structure and operations

Management structure and operations - number of sole...

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Management structure and operations In most partnerships, the partners are involved in operating the business. Their regular involvement  makes critical decisions easier as formal meetings are not required to get approval before action can  be taken. If the partners agree on a change in strategy or structure, or approve a purchase of  needed equipment, no additional approvals are needed. Relative lack of regulation Most governmental regulations and reporting requirements are written for corporations. Although the 
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Unformatted text preview: number of sole proprietors and partnerships exceeds the number of corporations, the level of sales and profits generated by corporations are much greater. Number of partners The informality of decision making in a partnership tends to work well with a small number of partners. Having a large number of partners, particularly if all are involved in operating the business, can make decisions much more difficult....
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  • Spring '09
  • staff
  • sole proprietors, critical decisions, regular involvement, formal meetings, relative lack, additional approvals

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