Jarvi_Jeremy_U5_IP5_FINAL LDC

Jarvi_Jeremy_U5_IP5_FINAL LDC - Running Head: HOMETOWN...

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Running Head: HOMETOWN BUFFET Hometown Buffet By Jeremy Tyson Jarvi BUSN300 Lower Division Capstone Dr. Leland Taylor, Instructor American Intercontinental University November 2 nd , 2011 Abstract I have decided to use the company that I worked at for the last 10 years before I was laid off due to company budget cuts. The company is Hometown Buffet, and they are the largest buffet chain in the country. They own 800 stores nationwide in the contiguous 48 states. They have gone from being a sole proprietorship to a partnership to a corporation in 15 years. They are
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Running Head: HOMETOWN BUFFET currently under the umbrella of a holding group, and off the public market so that there is no chance for a hostile takeover by their main rival Golden Corral. I am going to be discussing what we use instead of projects within our company, what we call promotions. We call them promotions, because they are what we do for a specific period of time in order to gauge public reaction to what we are trying to do and see how it effects our business and our guest count. HOMETOWN BUFFET Introduction A business, which also is known as either: a company, an enterprise or a firm, is a legally recognized entity that has been designed to provide a specific good(s) or service(s) to consumers. In capitalistic economies businesses are predominant. The majority of businesses are privately owned. The reason that a business is typically formed is to earn profit to increase the wealth of the owner and grow the business itself. One of the main objectives for the owners and operators of a business is the receipt or generation of a financial return in trade for work and acceptance of risk. Cooperative and state-owned enterprises are notable exceptions to the rule. There are a
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Running Head: HOMETOWN BUFFET couple other types of businesses that can be formed: state-owned and not-for-profit (Legal Forms of Business, 2011). Legal Forms of Business 1. Sole proprietorship: This type of a business is owned by a single person. The person who owns the company may operate it on his own or employ others to run it for him/her. The owner of the business has personal liability of the debts that his company has incurred (Legal Forms of Business, 2011). When Hometown Buffet was first started it had a single owner, who ran the entire company. 2. Partnership: This form of business is where two or more people operate the entity for the common purpose of making a profit (Legal Forms of Business, 2011). Each partner typically has personal liability of all debts incurred by the company. There are three different forms of partnership: general partnerships, limited partnerships and limited liability partnerships (Legal Forms of Business, 2011). When Hometown Buffet merged with Old Country Buffet it became a general partnership
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This note was uploaded on 03/02/2012 for the course BUSN 101-305 taught by Professor Varios during the Spring '11 term at AIU Online.

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Jarvi_Jeremy_U5_IP5_FINAL LDC - Running Head: HOMETOWN...

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