Business Plan Completion

The business in terms of form of organization, liability, structure, roles, responsibilities, and salary requirements.

Form of business organization, liability of owners, organizational structure, roles and responsibilities, and salary requirements.

Sole proprietorship, partnership, or corporation.

<p>In the management aspect of the feasibility study.</p> Signup and view all the answers

<p>To ensure alignment with the business goals and objectives.</p> Signup and view all the answers

<p>To ensure clarity in management and operations.</p> Signup and view all the answers

<p>Limited liability means that the owner's financial obligation is only up to the extent of their financial contributions to the business.</p> Signup and view all the answers

<p>In a small business, the owner typically serves as the president or general manager and is also in charge of production and marketing operations.</p> Signup and view all the answers

<p>Clear definition of roles and responsibilities minimizes misunderstandings and avoids overlapping of functions.</p> Signup and view all the answers

<p>Capital requirement, liability of the owner, management and supervisory skills, tax implications, government intervention, nature of the business, and external financing requirement.</p> Signup and view all the answers

<p>Limited liability means creditors cannot go after the personal property of the owner beyond their financial contributions, while unlimited liability allows creditors to pursue the owner's personal assets.</p> Signup and view all the answers

<p>The organizational chart shows the hierarchy of positions, interrelationships of offices or departments, flow of communication, and line and staff authority.</p> Signup and view all the answers