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SEMESTER FALL 2015
Introduction to Business
(Mgt211)
Assignment No: 01
Opening Date: 17 Nov, 2015
Due date: 24 Nov, 2015
Marks: 10
Topic: “Sole Proprietorship”
Learning Objective: The core objective of this activity is to make the students familiar with the basic concept of Sole proprietorship and start-up initiatives.
Learning Outcomes: After attempting this activity, students will be able to know how to take a better decision while initiating a business idea.
BACKGROUND:
The unavailability of hygienic and pure drinking water is causing various diseases. The only measure to reduce the disease is to provide distilled and filtered drinking water at mass level. Where it is a threat for the society at the same time it’s an opportunity for the businessmen to invest in building water plants and produce bottled water. The growing demand has intended many national and international companies to come into this field, as the raw cost is low and it carries huge profits as compared to other business. Suppose being a business graduate, you are seeing an opportunity in this field. Having equipped with necessary finance and required knowledge, you are interest to take initiative and start your own business. Considering the
competition from existing brands and your limited resources (obviously not ideal), you have to plan your business activities to make it a successful venture.
REQUIREMENTS:
Being a local investor, how will you initiate a new business and set up drinking water plant? Moreover, which factors do you think will give you a competitive advantage over the international investors?
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Replies to This Discussion

sholi junaid sir if u mind mazak kr rai thi , 

ap MS word format main compose kry 

best of luck :)

Sole Proprietorship

The most common and simplest form of business is a sole proprietorship. Many small businesses operating in the United States are sole proprietorships. An individual proprietor owns and manages the business and is responsible for all business transactions. The owner is also personally responsible for all debts and liabilities incurred by the business. A sole proprietor can own the business for any duration of time and sell it when he or she sees fit. As owner, a sole proprietor can even pass a business down to his or her heirs.

In this type of business, there are no specific business taxes paid by the company. The owner pays taxes on income from the business as part of his or her personal income tax payments.

Sole proprietors need to comply with licensing requirements in the states in which they're doing business, as well as local regulations and zoning ordinances. The paperwork and formalities, however, are substantially less than those of corporations, allowing sole proprietors to open a business quickly and with relative ease - from a bureaucratic standpoint. It can also be less costly to start a business as a sole proprietor, which is attractive to many new business owners who often find it difficult to attract investors.

Advantages of a Sole Proprietorship

  • A sole proprietor has complete control and decision-making power over the business.
  • Sale or transfer can take place at the discretion of the sole proprietor.
  • No corporate tax payments
  • Minimal legal costs to forming a sole proprietorship
  • Few formal business requirements

Disadvantages of a Sole Proprietorship

  • The sole proprietor of the business can be held personally liable for the debts and obligations of the business. Additionally, this risk extends to any liabilities incurred as a result of acts committed by employees of the company.
  • All responsibilities and business decisions fall on the shoulders of the sole proprietor.
  • Investors won't usually invest in sole proprietorships.

Note: If the business is conducted under a fictitious name, it's up to the sole proprietor to file all applicable forms under the fictitious name or under doing business as (DBA). This, however, does not mean that the business is a separate entity from a legal standpoint. The sole proprietor remains liable even if he or she is doing business under a fictitious name.

Most sole proprietors rely on loans and personal assets to initially finance their business. Some will elect to incorporate once the business has started to grow, while other business owners maintain their sole proprietorship for many years.

mgt211 aasignment idea solution

Advantages of partner ship :

Partnerships can be cost-effective as each partner specializes in certain aspects of their business.
Partnerships provide moral support and will allow for more creative brainstorming.
your business is easy to establish and start-up costs are low
it’s easy to change your legal structure later if circumstances change.


mgt211 aasignment idea solution 
Disadvantages of partnership :

A major disadvantage of a partnership is unlimited liability. General partners are liable without limit for all debts contracted and errors made by the partnership. For example, if you own only 1 percent of the partnership and the business fails, you will be called upon to pay 1 percent of the bills and the other partners will be assessed their 99 percent. However, if your partners cannot pay, you may be called upon to pay all the debts even if you must sell off all your possessions to do so. This makes partnerships too risky for most situations. The answer would be a different business structure.

The partnership may have a limited life; it may end upon the withdrawal or death of a partner. 

Recommendations 

Mr.Khalil have to join partnership with his friend for the development of his business .

Assignment solution mgt211

Section 1

 

Being a nearby financial specialist when I begin a business I will concentrate on the neighborhood rivalry. I will concentrate on the shortcomings of my rivals and will attempt to change over it into quality for my business. After complete SWOT investigation I will actualize that information into my business.

 

I will set up a strategy for success. In this arrangement I might expound on about from start up to the run. An attainability report is readied. Authoritative records are accomplished. Business site will be made.

 

Packaged and refined water is presently a day's prerequisite of this time. Faucet water was utilized as a part of ahead of schedule ages. In the ebb and flow age individuals utilized packaged, sifted and refined water. Being a neighborhood Investors, I have numerous potential clients. So I can begin my business effortlessly.

 

Filtered water exists in numerous structures, for example, sprinkled water, mineral water and well water and so on. So I will distinguish the nearby accessibility of sanitized water. I will check the client request. Contenders shortcomings ought to be distinguished and change over into preferences. I will test my water at lower scale and afterward build the creation as indicated by the interest of clients. Since the passage in the business sector is exceptionally extreme so my primary spotlight on the passageway. At the passage point my point of convergence is the client fascination in my item. So bundles are vital in the start up to instigate clients to my nearby business.

 

Section 2

 

Upper hand is essential for any nearby, national and multinational business. So taking after four elements will give me upper hand

 

  • Degree of business idea to convey advantage to clients

 

  • Degree to which business idea remarkable

 

  • 3 Degree of wellness of business components

 

  • Degree to which business idea adventure benefit supporters to get above normal returns.

 

  • Soluiton :

 

Advantages of partner ship :

Partnerships can be cost-effective as each partner specializes in certain aspects of their business.
Partnerships provide moral support and will allow for more creative brainstorming.
your business is easy to establish and start-up costs are low
it’s easy to change your legal structure later if circumstances change.


mgt211 aasignment idea solution 
Disadvantages of partnership :

A major disadvantage of a partnership is unlimited liability. General partners are liable without limit for all debts contracted and errors made by the partnership. For example, if you own only 1 percent of the partnership and the business fails, you will be called upon to pay 1 percent of the bills and the other partners will be assessed their 99 percent. However, if your partners cannot pay, you may be called upon to pay all the debts even if you must sell off all your possessions to do so. This makes partnerships too risky for most situations. The answer would be a different business structure.

The partnership may have a limited life; it may end upon the withdrawal or death of a partner. 

Recommendations 

Mr.Khalil have to join partnership with his friend for the development of his 

8

Good

REQUIREMENTS:

Being a local investor, how will you initiate a new business and set up drinking water plant? Moreover, which factors do you think will give you a competitive advantage over the international investors?

 

Answer:

It is not always easy to start a new business from scratch. However a lot of moment comes in the life at which we have to decide all the minute details along with the line and nature of business. In our present case we have decided to go into the market of mineral water. Let’s check rationales of our decision.

  • Through latest research, media and education day by day awareness of  healthy living specially  drinking pure and hygienic water is increase in demand
  • There is nothing required to explain the growing need of water because all life cannot survive without water. We as humans need water for not only drinking yet in lots of other areas of our daily life. As we know the rate of human population is growing continuously similarly the market of water is growing continuously and there is no chance in its reduction.
  • By starting your own business you generate employment and improved living standards.

Important Factors to be Considered:

  • Very tough competition is available in the market at each level and in every segment of the market.
  • Compliance with the regulations and standards set by PSQCA along with acquiring licenses from concerned authority is required.

Establishing the Business:

 

Name Of Business:

Pure Drink.

  • Select proper location according to size and requirements of plant and machinery.
  • Install plant and machinery and other requirements like electricity (Back Up Arranges In Case Of Failure), supply of water sanitation etc.
  • Arrangement of office and hiring of employees.
  • Purchase of all required raw material.
  • Arrangements for delivery system.
  • Finding sale points and distributors.
  • Tough advertisements in all manners.
  • Launching Ceremony in a huge scale to get attention from every corner of the market.

Project Cost:

            Estimated cost after taking all aspects of the business has been worked out to be Rs: 16.055 (M) including the fixed assets Rs: 11.500 (M) and remaining amount as working capital. Total period for construction, installations etc. should not exceed 3 month.

Proposed Product mix:

            It has been estimated that our plant will generate 15000 gallons of water per day. We will produce 1.50 litter and .50 liter bottles in the ratio of 80% and 20%. To run the plant office work and sales at least 42 employees will be required.

            After implementing all the above procedures and plans we shall be easily able to establish the business

Advantages:

  1. Local customers are best known to local business.
  2. People love to purchase products manufactured in their country if provided with quality.
  3. Finding, constructing and establishing plant machinery at a best place is easy for local residence.
  4. It is easy to comply with legal requirements by the owners because they know every point in there society.
  5. Lower costs of manufacturing and supplying because all material is available at cheap cost locally.
  6. Less wages of employees as compared to international competitors.

 

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