Essay --

The Role of Business in Society The purpose of this paper is to provide an overview of the role of business in society, concept of ethical leadership and the reasons leaders in businesses must utilize critical thinking, management decision-making, motivation and the requirement of followers in order to lead effectively. A business’ effect on a society is an important thing to consider, because a community can create an encouraging reputation, attract new customers and encourage customer loyalty to businesses. Every business is distinct in its own way whether it serves a specific functional market or relies on an owner's enthusiasm and special skills. However, all businesses have some of the same basic needs and limitations. Businesses are the growth medium of the economy. The primary role of business in the economy is to perform as a channel for economic development. The economy depends upon the employment provided by businesses and the goods and services in which they produce. In general, businesses pay taxes in which the government functions on these taxes collected. Therefore, businesses are an essential part of the economy. Businesses require people’s trust and acceptance. By doing so, businesses must serve people and not just the economy. The roles of social responsibility and technology in the marketing function means through social responsibility a business must be connected with the people and settings in which it serves. Being socially responsible means a business shows interest in its customers. Social responsibility and the evolution of technology have had a noteworthy influence on marketing. The technology growth has transformed businesses. In doing so, it has altered the stability of power from producers to con... ...ue-oriented relationships between businesses and the society that they serve. Marketing should be an exhilarating and worthwhile part of running a business. In order for businesses to get its full potential, leaders must spend time working on the business rather than working in the business. I feel that the connections should be entwined. Businesses should have a close relationship. An exemplary leader must create a culture that allows healthy relationships to thrive. Relationships form the basis of a network of trust among others. This trust fosters critical thinking, high expectations of everyone involved and a focus on improvement. Allowing stakeholders and the society to feel that they contribute to the achievement of organizational goals and participation in the decision making process to a degree provide desired commitment and trust to businesses.

Limited Liability Partnership (LLP) Essay

Fred and Ginger are general partners in a business. They decide to purchase a building for the partnership. Ginger will put up the money for the building, and Fred will complete the remodeling. While inspecting the building, Fred is informed that the building is packed full of asbestos. He fails to tell Ginger of the presence of the substance. They buy the building and go into business. During the remodeling of the building, people from the neighborhood begin complaining about the dust from the building. Some of them even threaten to sue. Who is liable? Both Ginger and Fred are liable, regardless of the circumstances, by virtue of the fact that they are partners. Which type of business formation is typically reserved for professionals such as accountants, lawyers, and doctors? Limited Liability Partnership (LLP) There are two general partners, each of whom contributes $5,000 in capital to a limited partnership. There are two limited partners, each of whom contributes $20,000. The total amount of capital contributed is $50,000. The limited partnership agreement does not stipulate how profits and losses are to be allocated. Assume that the limited partnership makes $300,000 in profits. Under the Revised Uniform Limited Partnership Act (RULPA), how much would each partner receive? Each general partner would receive $30,000, and each limited partner would receive $120,000. Which of the following is true of The Federal Arbitration Act? It provides that arbitration agreements are valid, irrevocable, and enforceable. Which of the following is true of a corporation? A corporation is a separate legal entity. Which of the following is true in the creation of a general partnership? The name selected cannot indicate that it is a corporation. Which of the following is true of arbitration? Parties can introduce evidence to support their case. Which of the following is one of the major purposes of a settlement conference? To facilitate the settlement of a case. Which of the following is true regarding mediation? A mediator does not make a decision or an award. When parties agree in advance to adhere to an arbitrator’s decision and  award, it is known as Binding arbitration Martha started a flower shop as a sole proprietor. After 1 year, she was forced to close the shop because business was so bad. At that time, the business assets totaled $50,000, but the business liabilities totaled $125,000. Which of the following statements is true? Martha is personally liable for the additional $75,000 owed to business creditors. George has served Mary with a complaint alleging breach of contract. Mary has never been sued before and as such, she seeks your advice on what to do with the complaint. You advise that she Answer George’s complaint by admitting or denying the allegations George has asserted against her The Black Squirrel limited partnership has been in operation for many years, but has recently fallen on hard times. The partners have decided to dissolve, although there are few assets remaining in the partnership. Shortly after the partnership filed its certificate of limited partnership, the partners had the foresight to incorporate into their partnership agreement a provision that, in the event of dissolution, the assets would be distributed in payment of claims first to limited partners, then to general partners, then to creditors. Hilda is a limited partner and feels relieved that she will receive at least a portion of her capital. Henry, one of the general partners, said that this provision is void and unenforceable. Which of the following best describes this situation? The provision placing the partners ahead of creditors is not enforceable, but the priority of limited partners over general partners is enforceable. Which of the following is true about the choice of business entity for an entrepreneur? The choice takes into account many factors, including finding an option that has all the characteristics desired. What is the effect of having a corporation as the general partner of a limited partnership? The liability of the corporate general partner will be limited to the amount of its assets. Which form of alternative dispute resolution occurs when the parties choose an impartial third party to hear and decide their dispute? Arbitration

Analytical Report on Business Organization - 4233 Words

Assignment front sheet Learner name Group 6 Date issue Completion date 10.02.2013 06.04.2013 Qualification Pre†Master Course (Business Studies) Assessor name Daw Mu MuTheint Submitted on 06.04.2013 Unit number and title Unit†1†4, Principles of Management, Marketing Principles, Human Resources Management Assignment title Analytical Report on Business Organization (Assignment†1of 1) In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found Criteria To achieve the criteria the evidence must show that the Task no. reference student is able to: 1 Suggest about a long term plan/ strategy including vision, 1†¦show more content†¦Phone Thit Chairman Diamond Stars Group of companies From: CEO Myanmar Imperial Clinic (MIC) Date: Subject: 04th April, 2013 Analytical Report on Business Organization 2 Executive Summary In early 2009, Myanmar Imperial Clinic was set up by Myanmar Medics Co., Ltd. Because of its extensive range of medical services and accurate diagnostic tests by international recognized specialists and outstanding clinical staff, it was famous and generated profits at that time. But along with the competition of high investing clinic, lack of control of the specialists and insecure environment of the staff, the organization’s performance has declined in 2012. Therefore the reputation of the clinic gradually goes down. So that in 2013, Myanmar Medics Co.,Ltd. was being acquisition by Diamond Stars Group of companies which is operating in various industries in Myanmar. The organization will be reformed by the encouragement of our chairman. Profile Name Location – Myanmar Imperial Clinic (MIC) – Hledan, Kamaryut Township – 8520 sqft – 6 stories building â €“ 40 bedded general health care centre † 166 employees Compound Size Building Type Size Fifth Floor Fourth Floor Third Floor Second Floor First Floor Ground Floor Building Information Ground Floor – Reception, Emergency,Show MoreRelatedThe Field Of Data Analytics1642 Words   |  7 Pages In today’s complex business environment, the field of data analytics is growing in acceptance and importance. It is playing a critical role as a decision-making resource for executives, especially those managing large companies. To shed more light on how companies are taking advantage of analytics, Deloitte Analytics commissioned The Analytics Advantage, the first in an annual series of surveys focusing on the state of analytics readiness at leading corporations and what the future holds. 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