You will be asked to use your imagination
In this Assignment you will be asked to use your
imagination. Either invent a business or use your currently owned business. You
may not use an existing company from the Internet. Every week, you will discuss
different aspects of that business. Think of a business that you might like to
own. This does not need to be anything you will actually start, so it can be
just a dream. It can also be something you think you would like to do sometime
in the future. This can be a retail or service business, independently owned or
corporate. You will use this imagined or real business throughout this course,
so choose wisely as you will be required to use it for ten weeks. In Unit 1,
you will describe how best to organize your business. After completing your
Learning Activity, you will need to choose the best business entity that suits
your needs. Will it be a sole proprietorship? A partnership? A corporation? If
incorporated, what type? Your choice will be based on what you have read in the
text starting on page 200 and continuing through 211 and then practiced in your
Learning Activity. You will need to choose the company type, and describe why
that would be best for your dream or real business. Complete all the checklist items
below before submitting your minimum 1-page APA formatted and citation styled
response (include an additional title and references page) to the Dropbox.
Checklist: Describe the following: ? The business you have chosen, real or
imaginary. This MAY not be a business that already exists if you are not the
owner. ? The type of legal entity you believe would work best for the business
and the stakeholder obligations involved. ? Why your choice is best in this
particular case. ? Why each of the other business types would be less
satisfactory. ? Describe the drawbacks to your chosen business entity and how
you might deal with those.
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