1. Introduction to Business - Week 2
Professor Walter Isley
Herzing University Online - Intro to Business

2. Week 1 Review Quiz 1 and Week 1 Discussion grades are now available
Please review the feedback.
Review the Discussion Tutorial
Please contact me is you have question about your grades.
Week 1 Review
Herzing University Online - Intro to Business

3. Primary Discussion Requirements
Primary discussion is due Wednesday by 11:59PM CT
Must address parts A & B.
Minimum 250 words.
Must have academic research applied to the post (textbook, Herzing library, web sources [NO WIKI]).
Make sure you are using terms that you are learning from the course.
Please cite your work.
Primary Discussion Requirements
Herzing University Online - Intro to Business

4. Secondary Discussion Requirements
Secondary discussions are due Sunday by 11:59PM CT.
Must post a minimum of 2 post on 2 separate days.
Minimum 100 words.
Must have academic research and/or creditable examples applied to the post (textbook, Herzing library, web sources [NO WIKI]).
Make sure you are using terms that you are learning from the course.
Please cite your work.
Secondary Discussion Requirements
Herzing University Online - Intro to Business

5. Responding to Secondary Discussions
You agree / support the authors position on the topic. Why?
You agree / support the authors position and would like to expand on the thought.
You Challenge the position the author has taken on the topic. Why?
You respectfully disagree with position the author has taken on the topic. Why?
Responding to Secondary Discussions
Herzing University Online - Intro to Business

6. Week 2 Assignment PowerPoint Sole Proprietorship Partnership
C Corporation
Limited Liability Company or S Corporation
Speaker Notes Content
Discussion on the difficulty of forming the business structure;
Liability
Legal and operational requirements
Who manages the business
Taxes
Choose one organizational structure and discuss issues arising during the operation of business due to the way the business is legally structured
Week 2 Assignment
Herzing University Online - Intro to Business

7. Shark Tank ABC & CNBC
Herzing University Online - Intro to Business

8. The Profit
Herzing University Online - Intro to Business

9. A business owned and (usually) operated by one person
Simplest form of business ownership
The most popular form of business ownership
Many large businesses began as small struggling sole proprietorships
Sole Proprietorship
Herzing University Online - Intro to Business

10. Sole Proprietorship Advantages Ease of start-up and closure
Pride of ownership
Retention of all profits
No special taxes
Flexibility of being your own boss
Disadvantages
Unlimited liability
Lack of continuity
Lack of money
Limited management skills
Difficulty in hiring employees
Sole Proprietorship
Herzing University Online - Intro to Business

11. A partnership is a voluntary association of two or more persons to act as co-owners of a business for profit
Usually a pooling of special talents or the result of a sole proprietor taking on a partner
No legal limit on the maximum number of partners; most have only two
Large accounting, law, and advertising partnerships have multiple partners
Less common form of ownership than sole proprietorship or corporation
Partnership
Herzing University Online - Intro to Business

12. Partnership Unlimited liability Management disagreements
Advantages
Ease of start-up
Availability of capital and credit
Personal interest
Combined business skills and knowledge
Retention of profits
No special taxes
Disadvantages
Unlimited liability
Management disagreements
Lack of continuity
Frozen investment
Partnership
Herzing University Online - Intro to Business

13. Corporations C-Corporation S-Corporation Limited Liability Corporation
A corporation is an artificial person created by law with most of the legal rights of a real person, including the rights to start and operate a business, to buy or sell property, to borrow money, to sue or be sued, and to enter into binding contracts
C-Corporation
S-Corporation
Limited Liability Corporation
Corporations
Herzing University Online - Intro to Business

14. Corporation Disadvantages Advantages
Limited liability – each owner's financial liability is limited to the amount of money that he or she has paid for stock
Ease of raising capital
Ease of transfer of ownership
Perpetual life
Specialized management
Disadvantages
Difficulty and expense of formation
Government regulation and increased paperwork
Conflict within the corporation
Double taxation
Lack of secrecy
Corporation
Herzing University Online - Intro to Business

15. Questions
Herzing University Online – Intro to Business