Q&A - What is a partnership?
A partnership is formed where a business is started and owned by more than one person.
read more...»Q&A - Who does what in a company?
There are various roles in a company and it is important to make sure that you do not confuse them.
read more...»Q&A - Outline the ways in which a business can better manage stakeholder conflict
There are two main approaches to handling the often conflicting needs of stakeholders…
read more...»Q&A - Why might the objectives of stakeholders be in conflict?
Many business objectives complement each other and are acceptable to a broad range of stakeholders. For example, an objective for a business start-up of achieving survival would be supported by nearly all the stakeholders. It is in no-one’s interest for a business to fail! However, once a business becomes better established and larger, then potential conflicts begin to arise. Let’s look at two examples in a little detail:
read more...»Q&A - What power do stakeholders have over what a business does?
Stakeholder power is an important factor to consider whenever you are asked to write about the relationship between a business and its stakeholders. In the context of strategy, what is important is the power and influence that a stakeholder has over the business objectives.
read more...»Q&A - What is meant by Social Enterprise?
One kind of business structure that has grown rapidly in the UK in recent years is the “social enterprise”. Social enterprises are the most common form of “not-for-profit” enterprises.
read more...»Q&A - Compare the advantages of trading as a sole trader versus a private limited company
The main differences between private limited companies and sole traders can be summarised as follows:
read more...»Q&A - Describe the basics of setting up a business in the UK
A checklist of things to do when starting a business can run to many pages. There are many practical issues to address in terms of setting up the administration of the business, obtaining the resources to trade and then, even harder, finding and keeping the first customers! Here is a summary of the main actions that a start-up needs to address:
read more...»Q&A - What are the main interests of business stakeholders?
The main interests of each main stakeholder group can be summarised as follows:
read more...»Q&A - What are stakeholders?
A stakeholder is anyone who has a vested interest in the activities and decision making of a business.
read more...»Q&A - Explain incorporation and the protection of limited liability
Incorporation is the creation of a company which then operates as a business. In the vast majority of cases, the type of company created is a “private limited company”.
read more...»Q&A - What is unlimited liability?
There is a big downside to operating as a sole trader. It occurs because, in the eyes of the law, there is no difference between the person running the business and the business itself. When it comes to chasing money owed by a business, a sole trader has to settle up.
read more...»Q&A - What is a sole trader?
Most businesses in the UK are small businesses, owned and operated by one person. In most cases, these businesses operate as a “sole trader”.
read more...»Q&A - What are the disadvantages to a start-up of setting up as a franchise?
Whilst starting a business as a franchise is traditionally seen as a lower-risk approach, there are some significant disadvantages to consider:
read more...»Q&A - What are the advantages to a start-up of being a franchise?
For a start-up entrepreneur, there are several advantages to investing in a franchise:
read more...»Q&A - What is franchising?
A business idea for a start-up doesn’t have to be original. Many new businesses are formed with the intention of offering an existing business idea. The use of franchises is a great example of that.
read more...»Q&A - What are the main advantages and disadvantages of being a private limited company?
What are the main advantages and disadvantages of being a private limited company?
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