Structuring a Business

Question # 8 00582409
Subject: Business
Due on: 12/12/2017
Posted On: 12/05/2017 02:01 AM
Tutorials: 1
Rating:
4.9/5
Pafoday
Posted By :
Questions:
2
Tutorials:
0
Feedback Score:
Report this Question as Inappropriate
Question Dot Image

In this project, you are determining the best legal form and organizational structure for your new business. The nature of the organization's business and the environment the business operates in are factors you must consider. Initially, Sunburst will operate locally, but within five years operations will go national (or international). Read about how you might plan these stages in Creating and Managing a New Business.

In the first part of this project, you will create a narrated PowerPoint presentation for potential investors and partners in your new company. In this presentation, you will analyze the pros and cons of various forms of business and recommend the best legal form of business to achieve your organization's goals.

In the second part of this project you will design an effective organizational structure for the business at its inception and in its next phase of growth. To achieve this, you'll need to create one short paper with three sections: (1) a brief mission statement reflecting the primary goals of the business, (2) a detailed organization chart, and (3) a rationale statement that explains and supports, thoroughly but succinctly, the mission statement and structural decisions reflected in the organization chart.

When you submit your project, your work will be evaluated using the competencies listed below. You can use the list below to self-check your work before submission.

  • 1.7: Create neat and professional looking documents appropriate for the project or presentation.
  • 1.8: Create clear oral messages.
  • 2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against relevant criteria and benchmarks.
  • 7.1: Analyze the legal forms of business organization and make recommendations to support business decisions.
  • 9.1: Design organizational structure, systems and processes that support the strategic goals of the organization.
  • 10.4: Make strategic managerial decisions for obtaining capital required for achieving organizational goals.
  • 13.2: Create and implement new initiative or enterprise.
  • 13.3: Create and manage a new enterprise.

Step 1: Determine the Legal Structure of Your Business: Gather and Analyze Information

You go to your office to begin the task at hand—the preparation of a narrated PowerPoint presentation to potential investors that will address all of the issues involved in making this decision. For critical background information, see Creating Sunburst: Legal and Organizational Considerations. You will need this information to make the best legal and organizational decisions for your business.

Since one of the investors will not be able to attend a presentation in person, you need to prepare and record a narrated PowerPoint, so she can listen at her convenience. In order to complete this task, you realize that you must do some research to address the legal and strategic implications if your business is to get off the ground.

  • What types of business organizations are available to entrepreneurs?
  • What are the advantages and disadvantages of each alternative?
  • What are the two best choices and why?
  • How would you explain your choices to your investors?

Be sure to discuss the following information in your plan (refer to Legal Forms of Business before you begin writing):

  • What are the different legal forms of business that you might consider? You remember that there are at least six factors that will influence your choice:
    • creation and maintenance
    • continuity
    • ownership and control
    • personal liability
    • compensation and division of profits
    • taxation
  • What is your proposed choice for the legal form of business? Include your reasoning based on the preceding six factors and any other relevant factors.

When your research is complete, continue to the next step, in which you will create the Powerpoint presentation for your investors.

Step 2: Prepare Your Presentation

Using the information you gathered in the previous step, prepare a narrated PowerPoint. Because you will not deliver this presentation in person, it should follow the form of asynchronous presentations. Be sure to meet the following requirements:

  • Include a title slide, with your name on it, introducing the presentation.
  • On the presentation slides, include only the major bullet points for each issue.
  • Include no more than 15 slides (not counting title page or references list).
  • Cover all the elements of your plan as outlined in Step 1.
  • Use your narration to provide the supporting rationale for each major bullet point.
  • Include a script of your narration in the notes section of PowerPoint.
  • The final slide must present a clear summary of your major conclusions and any recommendations.
  • Include a reference page in APA format citing any sources you used to develop your presentation.
  • Title your files using this protocol: yourlastname_Business Form_date.

When your presentation is complete, continue to the next step, in which you will gather information about the potential organization structure for your business.

Step 3: Determine Your Organization's Structure: Gather and Analyze Information

Now that you have decided on a legal organization form for your business, which currently has a single location, you need to decide on an organization structure. Organization structure determines such things as what departments the organization will need, who will report to whom, how many levels you will have in your organization's hierarchy, and how many individuals will report to each manager (span of control). An effective structure should promote communication and coordination of efforts across the entire organization. See: Organization Structure and Design.

You begin your research by formulating a number of questions, the answers to which will be reflected in a short paper that includes your mission statement, organization chart, and your rationale for these recommendations.

1. Sunburst's primary goals are innovation and customer responsiveness. How should your mission statement articulate these goals? How can this statement be drafted so that it is clear, concise, and meaningful to organization stakeholders?

2. What key tasks must be accomplished in order to meet the organization's goals? What individuals or groups will have responsibility for delivering these processes or items?

3. Will individuals have titles and, if so, which individuals? What will those titles be?

4. To whom will individuals report? Why?

5. What are the possible impacts of outsourcing the HR function? What are the pros and cons of doing so? Make a recommendation in your paper. If you decide to keep HR in house, make sure its place in your business structure is reflected in your organization chart.

6. Consider all other relevant factors (for example, will your business structure be functional, centralized, or decentralized, etc.).

When you have formulated your preliminary thoughts and questions, begin your research. The resources below are a good start, but you should also conduct your own research to enhance your knowledge and the final product.

When your research is complete, continue to the next step, in which you will write your short paper, which will include a mission statement, organization chart, and summary of the rationale behind your decisions.

Step 4: Integrate Your Thoughts and Material

You've formulated your key questions; you've done your research; you've analyzed and refined your information and thoughts. Now it's time to put it all together and start drafting your deliverable.

  • Assemble a short paper that contains the following:
    • your mission statement of no more than one paragraph
    • yourorganization chart
    • your rationale, no more than five pages (12 point type, double-spaced), for your chosen mission statement and organization structure as displayed in your chart
  • Be sure to attribute any sources you use in the creation of any of the documents you submit.
  • Include a reference page in APA format citing any sources you used in your short paper.
  • Use the following file naming protocol:yourlastname_organization _date

When your mission statement, organization chart, and rationale statement are complete, continue to the next step, and submit your work.

Step 5: Submit Your Materials

By the end of Week 7, submit the following files to the Structuring a Business folder.

  • narrated PowerPoint with recommended legal form of business
  • short paper including mission statement, organization chart, and rationale



Before you submit your assignment, review the competencies below, which your instructor will use to evaluate your work. A good practice would be to use each competency as a self-check to confirm you have incorporated all of them in your work.

  • 1.7: Create neat and professional looking documents appropriate for the project or presentation.
  • 1.8: Create clear oral messages.
  • 2.5: Develop well-reasoned ideas, conclusions or decisions, checking them against relevant criteria and benchmarks.
  • 7.1: Analyze the legal forms of business organization and make recommendations to support business decisions.
  • 9.1: Design organizational structure, systems and processes that support the strategic goals of the organization.
  • 10.4: Make strategic managerial decisions for obtaining capital required for achieving organizational goals.
  • 13.2: Create and implement new initiative or enterprise.
  • 13.3: Create and manage a new enterprise.

Submission for Project 4: Structuring a Business

Dot Image
Tutorials for this Question

Submission for Project 2: Making Decisions that Are Legal and Ethical

Tutorial # 00580514
Posted On: 12/06/2017 02:23 PM
Feedback Score: 100% (by 1 users)
Purchased By: 3
neil2103
Posted By:
Questions:
8
Tutorials:
21
Feedback Score:
Report this Tutorial as Inappropriate
Tutorial Preview
The solution of Submission for Project 2: Making Decisions that Are Legal and Ethical...
Attachments
VariusFormsOfBusiness_(2)_(1).pptx (996.63 KB)
Organizations_Structure-1.doc (395 KB)
Recent Feedback
Rated By Feedback Comments Rated On
Well-structured tutorial 01/11/2018

Great! We have found the solution of this question!

Related Questions
Business Ethics Chapter 4 MCQs
The answer for each question is indicated by a . 1 Which statement is not characteristic of the industrial model of work? A) Employees receive steady employment, secure wages and benefits, and oppor …
Recent Questions
Clinical Decision Support System (CDSS)
Clinical Decision Support System (CDSS) Health & Medical question so I can learn better.   Studies have shown that CDSSes reduce medication errors, increase physician and patient sat …
Identify at least two trends that you feel have a great impact on managed
Identify at least two trends that you feel have a great impact on managed health care today. Throughout the course, you have been learning about managed care, both past and present. Conduct additio …
Healthcare Quality Improvement Trends in Saudi Arabia
Prepare a PowerPoint presentation Healthcare Quality Improvement Trends in Saudi Arabia Under the National Transformation Program within Saudi Vision 2030 goals of healthcare quality improvement …
Health & Medical - In 1958 which nurse believed the environment
Health & Medical Question Respond to the Following multiple choice questions; Top of Form Bottom of Form Questions and Answers 1. In 1958 which nurse believed the environment was what? …
Health & Medical - As you probably know by now, a big part of your doctoral
Health & Medical Question As you probably know by now, a big part of your doctoral journal will be the completion of a doctoral dissertation. For this week’s assignment, you will explore …
MGT321 Free Market and FDI - How does the free market
MGT 321 Saudi Electronic University Free Market and FDI Questions Q1: How does the free market view support FDI? Q2: Discuss the benefits and costs of FDI from the perspective of a host country …
Market Testing and Consumer Market Discussion
Trine University Market Testing and Consumer Market Discussion Questions 1. Explain why consumer market testing might not always be beneficial. 2. Discuss the dilemma faced by all firms of tryin …
Diversification Strategy - Corporate diversification strategies raise
Saudi Electronic University Diversification Strategy Discussion Corporate diversification strategies raise a wide range of strategic management issues. For this week’s critical thinking assig …
CS783 Tradeoff BW Centralized and Embedded Security
CS 783 Waldorf University Tradeoff BW Centralized and Embedded Security Questions introduction Our course covers a number of important IT governance topics in the context of Enterprise Architect …
MGMT497 Strategic Leadership and Planning
MGMT497 S Cloud State University Strategic Leadership and Planning Discussion MGMT 497 Strategic Management Exam 1 Review 1- What do we mean by strategic leadership? Please discuss the role o …