Part 1 – Entrepreneurs and Business Ownership
Although sole proprietorships are the most common form of ownership, the majority of Americans work for corporations. Between sole proprietorship and corporation, there is a range of options: partnership, LLC, LLP, benefit corporation (B corp), S corporation, C corporation, and then a range of not-for-profit and nonprofit structures. Each form of ownership has its advantages and disadvantages, but ultimately the business owner must choose.
You have had a home-based Tee-Shirt business for years. You have always been a sole proprietor. Now, you are expanding your business and moving into a retail storefront in a very busy strip center near your home. You will be hiring employees, buying additional equipment and will be open 7 days a Part. Please answer the following:
- Discuss the pros and cons of being a sole proprietorship (not list). Should you continue as a sole proprietor when you move into the storefront? Why or why not?
- Assume that you will change your legal form of ownership. What form of ownership would be best and why? Please discuss the pros and cons of the selected ownership.
Part 2 Am I an Entrepreneur?
Download and complete the â€œEntrepreneurial Self-Assessment Survey.â€ When completing this survey, remember that there is no right or wrong answer, and you should be as honest as possible. Once you have completed the survey, score the results using the scale found on the last page of the survey. You will need the score to complete the Part assignment below.
Once you have completed and scored the Entrepreneurial Self-Assessment Survey, make your initial post beginning the post with something such as this: â€œI scored 44 and self-employment may not be an appropriate career for me.â€
- Discuss the results of your self-assessment? Were you surprised at the results? Did you agree with your final score? Why or why not?
- Based on the course materials, discuss the entrepreneurial traits and identify the traits that are “non-negotiable” to be a successful entrepreneur?
- Discuss what the possible outcome if someone took this assessment and scored very low, but ignored the results and opened a business anyway?
LICENSES AND ATTRIBUTIONS
CC LICENSED CONTENT, ORIGINAL
Adopted from: Linda Williams and Lumen Learning. License: CC BY: Attribution
Please refer to the Part Grading Rubric and Part module for details regarding how your performance will be assessed. NOTE: Please be certain to read the entire Part assignment since in some cases there is more than one question you need to discuss, respond to, or address. Be sure that you have answered the entire question!
Paraphrase rather than use direct quotes and provide the page or paragraph number of the resource. Review the Learn to Use APA so you understand how to cite and reference the eBook, which you are required to use to support the reasoning for what is presented in the Part questions below. Cite the source materials used.
Create one thread and post both initial responses in this one thread.
Initial Post For Each Part Question
This posting should be a minimum of one short paragraph and a maximum of two paragraphs. Word totals for this post should be in the 200â€“350-word range. Explain ‘why’ with supporting evidence and concepts from the course materials. Include in-text citations and associated references in a reference list. Use of the course materials is required.
Responses to Classmatesâ€™ Posts For Each Part Question
After you have created your initial post, look over the Part posts of your classmates and give at least two responses for each Part question to different classmates (one per classmate) as outlined in the Part Grading Rubric. Four responses for this Part question is the minimum and will not earn full credit for Frequency.
A response posting should be a minimum of one short paragraph. Word totals for these posts should be in the 75â€“150-word range. The goal of your response posts is to extend the Part or pose new possibilities or ideas not previously voiced using the course materials. Your goal should be to motivate the group Part and present a creative approach to the topic. Do not merely agree or disagree, repeat what a classmate stated or what you have already stated. Explain the ‘why and how’ with supporting evidence and concepts from the course materials. Include in-text citations and associated reference within a reference list. Use of the course materials is required.
Part 4 – Motivation
In business, being able to motivate people to succeed is imperative to the success of the organization. This Inc. magazine article, lists 17 ways great leaders motivate their people. For the purpose of this Part, choose one of the following leaders and research who they are and what job they hold or held.
- In your initial post, discuss which one of the seventeen motivational traits mentioned in the article the selected leader possesses and why they are able to motivate their employees/followers. Utilize the motivational theories. Please DO NOT discuss your personal feelings pro/con regarding these individuals. You are analyzing why they are successful. [Sometimes, it is interesting to research someone you do not particularly like.]
- Provide an example (supported by research) of a time when this individual served as a motivator for others.
- Based on the course materials on motivation from this Part [you must use the course materials in the response and not merely words], discuss a time that you were motivated by a person in a leadership position. Explain what it was about the person that made him or her a motivator and explain what motivational theory best fits this motivator.
Part 5 – Are Interviews a Waste of Time?
- What can human resource managers do in order to make the interview process a more reliable indicator of an individualâ€™s ability to be successful?
- Based on this Partâ€™s course materials, what types of interviews or alternatives to interviews would you recommend if you were a human resource manager? Is there something you would add to the hiring process to make it more reliable?
- If you have been interviewed for a job, what, if anything, did the interviewer do that you believe made the process more or less reliable? Was there anything about the interview that did not align with the course materials?
LICENSES AND ATTRIBUTIONS
CC LICENSED CONTENT, ORIGINAL
Linda Williams and Lumen Learning. License: CC BY: Attribution