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OVERVIEW, LEARNING OBJECTIVES, CLASS PREPARATION

CHAPTER 4- Choosing a Form of Business Ownership

OVERVIEW
Chapter 4 focuses on specific forms of business organization and introduces a number of basic terms and definitions. The greater part of this chapter is devoted to the three most common forms of business ownership—the sole proprietorship, the partnership, and the corporation. We discuss the advantages and disadvantages of each form, using Figures 4.1 and 4.2 to emphasize the relative proportions ranked by headcount and sales revenue for each form within the total business community. Then we outline the process of incorporation and examine the role of a corporation’s board of directors. Next, we discuss S corporations, limited liability companies, and other special forms of business ownership. Examples from actual corporations illustrate various patterns of corporate growth through mergers and acquisitions.
Learning Objectives
After studying this chapter, students should be able to:
1. Describe the advantages and disadvantages of sole proprietorships.
2. Explain the different types of partners and the importance of partnership agreements.
3. Describe the advantages and disadvantages of partnerships.
4. Summarize how a corporation is formed.
5. Describe the advantages and disadvantages of a corporation.
6. Examine special types of corporations, including S corporations, limited-liability companies, government-owned corporations, and not-for-profit corporations.
7. Discuss the purpose of a cooperative, joint venture, and syndicate. 8. Explain how growth from within and growth through mergers can enable a business to expand.
Class Preparation

Format for Discussion Questions: Typed, (Question in bold) followed by double space and then your answer.
Assignments may be submitted in class paper copy, email, or via Blackboard.
Late assgnments will recieve a maximum of 50% credit

CLASS PREPARATION

READ Chpater 4, Video Case 4.1 Be prepared to discuss the questions at the end of the case
Answer Discussion Questions 1, 2, 3

 
Crossword: Please download to desktop then open

 

CROSSWORD CLUES

CROSSWORD BOARD