Business Management Affairs Coursework Example | Topics and Well Written Essays - 1750 words - 1

Business Management Affairs - Coursework Example A sole proprietorship brings the authority of running and controlling business activities to a single individual who can make important and minor decisions, control business environment and change policies where necessary. The accounting requirements and legal rules applicable on sole proprietors are less rigid and complex as compared to partnerships and companies. It is also considered to be on e of the cheapest forms of setting up a business (Gitman et al 2008). The advantages and disadvantages of sole proprietorship, however, need a deeper and keen observation to form a decision based on the examination of the three available options for us. This recommendation would provide advantages and disadvantages of sole trader, Limited Liability Company and partnerships. It would further conclude as to which venture is better for the organization. Advantages of a Sole Trader As highlighted above, there are a number of benefits that sole proprietorship brings for the sole owner of the busin ess. The first and the most rewarding benefit that this kind of business brings is the Controlling power that the owner receives. Sole trading maintains the highest level of autonomy in terms of running the business, choosing activities, methods and making autonomous decisions. A sole proprietor enjoys the autonomy of running the business in a manner that he wishes or considers appropriate to do so. A decision made by sole proprietor is not challenged by others in normal circumstances. The interference of other parties is less likely to influence the decisions of a sole trader and hence, the level of independence is upheld when setting up a business as a sole trader (Mifflin 2004; Gitman et al 2008). The second most attractive effect of dealing as a sole trader is the ability and right to retain the whole profit earned by the business. The sole traders are not required to distribute whole or part of their profits as required in the partnerships and companies. Another benefit that so le traders enjoy is the privacy of their data and business records. The companies are required to publicize their data and submit the annual reports to the companies’ house. The sole trader is free from such formalities required by the law or the stock market rules. It is also argued that sole proprietors are more responsible and specialist in terms of the nature and size of the business they are managing. The argument is supported by the view that sole proprietors are individually responsible for the profits and losses their business makes. Hence, the owners try to exercise such systems and controls which assure the long-lasting survival and profits of the business. In that, sole traders are also quicker and more efficient in making decisions about their business. Their observation of the customer’s demands and expectations help them in making informed judgements of what may help in the long run success of their business. They implement policies and change which aid t he business’s aim (Toit et al 2007; DeFrancesco 2006). Disadvantages of Sole Trader The advantages are not enjoyed without the risks of certain disadvantages surrounding the sole trading. Sole responsibility for the liabilities and losses is one the basic disadvantage that sole traders face. The sole proprietorship, further, does not acquire the separate legal entity status which disables such

In the Lake of the Woods Essay Example | Topics and Well Written Essays - 250 words

In the Lake of the Woods - Essay Example In the hypotheses chapters O’Brian has presented quotes from real books and reports (The My Lai court martials, histories, psychological books political biographies) and fictional sources (characters in the novel). As I see, the main aspect of the novel that grabs the readers and doesn’t let them go without completing it is its POV (Point of view). Usually authors use ‘one’ point of view as a tool to convey the mood and outlook they want to portray through their writing. However, a writer can even use first, second and third point of views together to diversify his storyline, which is what O’Brian has done in the discoursed novel. The element that gives this novel the feel of a first person narrative, despite of the fact that it is written in the third person is the ‘footnotes’. These are the footnotes that are included in the chapters and in which the narrator identifies himself and discusses his reasons for writing the story. Also he tells the problems he has encountered while writing it as the narrator has selected and organized the evidences to reveal thematic links between individual pieces of evidence, the main narrative, and his theories. Conseque ntly, the unique blend of two different points of views is the essential of â€Å"In the Lake of the