Articles of Incorporation:
All Canadians have the legal right to incorporate their business
Only requirement is that the articles of incorporation must be completed and filed and the
incorporation fees paid.
Proposed corporate name
Traditional Forms of Business Ownership:
Which is most common?
Sole Proprietorship = 74%
Partnership = 9%
Corporation = 17%
Which has the largest sales?
Sole Proprietorship = 9%
Partnership = 4%
Corporation = 87%
Sole Proprietor Advantages
Theories of Motivation:
Victor Vroom: Expectancy Theory
There are four basic questions that we all ask ourselves whenever we decide how
motivated we should be in regards to a specific task. Every time that we get a NO answer,
motivation drops to near zero
Steps in the Planning Process
1) Establish Goals and Objectives
2) Develop an Action Plan to achieve objectives
3) Implement the plan
4) Monitor results (control)
5) Make necessary modifications (control)
Defining Goals and Objectives:
- What we hope to a
What is an organizational structure?
o The specification of jobs to be done within a business and how those jobs relate to
o Organizational structure is different for each type of business
How are organizational st
New Forms of Organization
Boundary less Organization: One in which traditional boundaries and structures are minimized.
(Example: as firms partner with their suppliers, sometimes they dont even need to put in an
order for their products to be replenished)
Legal Forms of Business Ownership
* Important for: People starting businesses, (entrepreneurs). People thinking they may
want to change their form of business ownership. There are two types:
- Sole Proprietorships
How do we Determine What is Ethical Behaviour?
1. Gather relevant factual information
2. Determine appropriate moral values
3. Make and ethical judgment based on the rightness or wrongness of the proposed activity or
Differing ways of Determining
Consumerism ~ is a form of social activism dedicated to protecting the rights of consumers in
their dealings with businesses.
Consumers have the following rights:
1) The right to safe products.
2) The right to be informed about all relevan
Ideology on Management: Theory X & Theory Y
Theory X Assumptions:
The average human being has an inherent dislike for work and will avoid it if he can. Due to
this dislike, most people must be threatened and controlled before they will do work.
What if Management is Bad? Shareholder Recourse
1. Attend the Annual Meeting
2. Proxy Battle * (this is very interesting, makes big financial news)
- Recall that every year youre going to get a packet in the mail, with your proxy card.
What happens in the