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MGT211 Introduction To Business assignment no 01 solution and discussion due date 26-11-2014

Comments and Suggestion to solve this Assignment

Introduction to Business (MGT211)
Fall, 2014
Assignment.01
Due Date: November 26, 2014
Total Marks: 10
Topic: Sole Proprietorship and Partnership
Objective
The prime objective of this activity is to know the importance of scope of business.
Learning outcome of the activity
After attempting this activity, the students will be able to:
1. Know how to run a sole proprietorship or partnership.
2. Identify the role of sole proprietorship and partnership.
Scenario:
Mr. Khalil started a business of hotel five years ago. His hotel business has grown with the
passage of time but now is at stand still. Mr. Khalil wants to expand it over other cities but due to
lack of capital he can’t to do this. Mr. Jibran (a rich friend of Mr. Khalil) approached him and
asked to join him in his hotel business then he will also invest his capital in this business. Firstly,
Mr. Khalil hesitate a little bit to form partnership with Mr. Jibran but later he recognizes that he
alone will not be able to expand the business. Now Mr. Kahlil has only two options whether to
run a hotel business as a sole proprietor or form a partnership with Mr. Jibran.
Requirement:
Consider yourself as business analyst and evaluate above two options, discuss the advantages
and disadvantages of each option and recommend to Mr. Khalil that which option is most
suitable for him.
Note:
 Advantages and disadvantages should be in bullet form and carry 2 marks each.
 Recommendation to Mr. Khalil carries only 2 marks.
Important:
Grace period of extra 24 hours after the due date is usually available to overcome uploading
difficulties. This extra time should only be used to meet the emergencies and above mentioned
due dates should always be treated as final to avoid any inconvenience.
Important Instructions:
 Take help from internet for collecting the information.
 Carefully watch relevant lectures and consult the relevant material from handouts along
with recommended books.
 Attempt the assignment by yourself and it will be entertained positively.
Other Important Instructions:
Deadline:
 Make sure to upload the solution file before the due date on VULMS.
 Any submission made via email after the due date will not be accepted.
Formatting guidelines:
 Use the font style “Times New Roman” or “Arial” and font size “12”.
 It is advised to compose your document in MS-Word format.
 You may also compose your assignment in Open Office format.
 Use black and blue font colors only.
Referencing Guidelines:
 Use APA style for referencing and citation. For guidance search “APA reference style”
in Google and read various website containing information for better understanding or
visit http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html
Rules for Marking
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 It is submitted after the due date.
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 It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
 It is cheated or copied from other students, internet, books, journals etc.
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Replies to This Discussion

Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

advantages disadvantages of sole proprietorship and advantages and disadvantages of partnership in ko bullets main likhny ka matlab kia sirf points likhny ha detail nai. 

my dear Sirf points likhne hain.detail nehi

Advantages of  partner ship :

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



Disadvantages of partnership :

  1. 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.

  2. 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 . 

which option is most
suitable for Mr. Khalil?

  1. Hotel business as a sole proprietor.
  2. Form a partnership with Mr. Jibran.

And please discuss about sole proprietor and Form a partnership?

PARTNERSHIP IZ D BESTFOR MR.KHALIL

partnership is the best for Mr.Khalil if he wants to expend his business ..is it right ? we have to define advantages dis advantages of partnership & sole proprietor, that means we have to describe total 4 points ???

If Mr Khalil want expand business for profit and have handsome investment then:

I think Mr Khalil have to run Ist hotel as sole proprietorship and form a partnership for 2nd hotel with Mr.Jibran. With this action he will get complete profit of Ist hotel and also share the profit of 2nd hotel.

any one could explain “APA reference style” plz? 

If Mr Khalil want expand business for profit and have handsome investment then:

I think Mr Khalil have to run Ist hotel as sole proprietorship and form a partnership for 2nd hotel with Mr.Jibran. With this action he will get complete profit of Ist hotel and also share the profit of 2nd hotel.

Dear Friends please suggest if I am wrong...

He's already running a hotel dear

Mr. Tufail did you use APA reference style in your assignment? 

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