Software Company Start-Up
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1. I am starting a software company in which I plan to sell software to fellow students. There are a number of choices relating to the form of business organization I could choose. For example, I could form a proprietorship, a partnership, a limited liability corporation, a Sub-Chapter S corporation or a C corporation. To limit my personal liability and to be able to attract potential investors and potential lenders more easily I would form a C Corporation. Daniel Grant writing in American Artist (2003) suggests there are advantages and disadvantages of forming a corporation. For example, a C corporation pays corporate income tax but owners can deduct their salaries as business expenditures and carry forward losses and reinvest profits back into the corporation. On the other hand, the expense and legal requirements of incorporating and remaining properly incorporated can outweigh the benefits if the corporation does not earn a significant amount of money (Grant, 2003, 14).I would run my business in a professional but relaxed manner. I would make sure to develop a business plan before entering into any field. Industry research is essential to developing a comprehensive business plan. A business plan will help entrepreneurs achieve their goals. Business plans define and describe the business helps define short term and intermediate term goals. I would carefully select employees when starting my business. I would delegate authority to people whose good judgment I tru
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e might have been $5 or even $10 per gallon, but absent price controls the law of supply and demand would have found a price at which supply equaled demand (Sowell, 2002, 22).
3. It has been suggested that a good measure of a country's importance to the world economy is its area and population. However, this rule does not hold for all countries. For example, North Korea and South Korea are comparable in population, in natural resources, and in land mass, but North Korea is one of few remaining communist nations. Command economies are characterized by centralized government planning and control. Market economies are based on private enterprise and governed by the profit motive, not on ideologies. Market economies rest on the fundamental principle of individual freedom. In market economies, the dictates of supply and demand determine what will get made and sold, and at what price. In a command economy, the government establishes production levels for all goods and services. The government decides which factories will produce them, and allocates labor, capital equipment and raw materials to those factories to facilitate the factory meeting its quota.
North Korea's economic production is centrally planned, and the country
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Approximate Word count = 2808
Approximate Pages = 11 (250 words per page)
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