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02 forms busownership
- 1. Principles of Business, Marketing, andPrinciples of Business, Marketing, and FinanceFinance Lesson TwoLesson Two Forms of Business OwnershipForms of Business Ownership UNT in partnership with TEA, Copyright ©. All rights reserved
- 2. Changing EmploymentChanging Employment TrendsTrends • New jobs evolve while old jobs disappear. • The U.S. has an aging population. • Minorities are making up a larger percentage of the workforce. UNT in partnership with TEA, Copyright ©. All rights reserved 2
- 3. Businesses in the U.S. EconomyBusinesses in the U.S. Economy • Employ millions of Americans • Compensate owners and investors • Pay taxes to federal, state, and local governments • Make and distribute products and services needed by consumers, government, and businesses UNT in partnership with TEA, Copyright ©. All rights reserved 3
- 4. Three Major Categories of Businesses UNT in partnership with TEA, Copyright ©. All rights reserved 4
- 5. Forms of BusinessForms of Business OwnershipOwnership • Sole Proprietorship – Individuals who want to work and make decisions independently – Little government regulation – Great risk for the owner UNT in partnership with TEA, Copyright ©. All rights reserved 5
- 6. Forms of BusinessForms of Business OwnershipOwnership • Partnership – The partnership is owned and controlled by two or more people. – Partners share an idea for a business. – Partners want to cooperate in managing and investing, and want to share the risks and rewards of the business. UNT in partnership with TEA, Copyright ©. All rights reserved 6
- 7. Forms of BusinessForms of Business OwnershipOwnership • Corporation – Separate legal entity owned by one or more shareholders and managed by a board of directors • More difficult to form • Subject to more regulations • Limited liability for investors UNT in partnership with TEA, Copyright ©. All rights reserved 7
- 8. Other Forms of Business Ownership UNT in partnership with TEA, Copyright ©. All rights reserved 8
Notes de l'éditeur
- Explain the changing workforce for an aging population. Also describe the needs for an aging population.
- Ask students to give examples of producers. Possible answers may include farmers and manufacturers are examples of producers. Ask students to give examples of intermediaries in the mall. Then ask students to give examples of service businesses that they use. Examples of service businesses might include Internet service providers, doctors, dentists, hair stylists, and lawn care specialists.
- Ask students to list a business that they would feel comfortable operating as a sole proprietor. Then ask students to explain why they are qualified.
- Ask students to list the risks involved with partnerships. Explain how partners have unlimited liability in the partnership. Unlimited liability-full legal and financial responsibility for a business
- Corporation-a business treated by law as separate from its owners. Ask students to list three corporations that they think are good investment choices. Later they can look up the most current stock price for each corporation on the internet on listed in the newspaper.
- Describe how a limited liability partnership would allow you to begin a partnership with a noted expert who is only liable for the amount they invested in the company. Explain how a joint venture ends when a project is completed. Ask students to give examples of franchises. Fast food restaurants, hotels, and other businesses operate as franchises.