NAME: Michelle Khalenya Shimoli
ID NUMBER :640717 ASSIGHNMENT: 1 Question 1 and 8 page 43 course text; Strategic Management planning for domestic and Global Competition
COURSE: Strategic Management
LECTURE: Maina Muchara Phd
DUE DATE: 21st /09/2015
Contents
INTRODUCTION 2
QUESTION 1 3
What is a mission statement 3
Insights from Nicors Inc mission statement: 3
QUESTION 8 5
Sole Proprietorship 5
Partnership 6
Corporations 6
Comparative Advantages 7
REFRENCES 8
INTRODUCTION
This assignment will talk about the insights of Nicors Inc mission statement and what perception of the company do you get from its mission statement we will also see in question 8 the legal advantages of Sole proprietorship , partnerships …show more content…
It’s a unique that sets a company apart from others
Insights from Nicors Inc mission statement: 1. In the Nicors Inc mission under the preamble we see that the company ahs principles that they have set for them self, s and they have pledge that they will put all their effort in accomplishing the purposes within the principles that they have as a company.
2. According to the mission statement we also see that the company is willing to perpetuate in an investor owned company and wants to engage in various phase of business , and with that they are able to create satisfactory products and services to their customers, so as to gain long term profit, this shows that the company is all about quality products and services and are geared to please their customers and make sure to give them the best.
3. We also see that they have a goal of meeting the customers ultimate needs, from the companies principles, this shows that they care so much about their customers that they work hard to please them and ensure that the customer’s needs are well accomplished and they are able to make the customer …show more content…
ADVANTAGES
Control- In a partnership, there is a lot of room for the partners to control the business, the partners are able to make big and critical decisions and actually take full charge of the business, which in other business such as corporations is not possible.
Taxes- when it comes to taxes the partnership usually does don’t file its own taxes but each individual files their own taxes, this is advantageous because if the individual falls back in taxes the company does not go down as a whole but just the individual. This may be desirable especially for smaller organizations
Survival- A partnership will only be terminated or get dissolved if any of the partners of the business dies or is incapacitated.
Formation- they are generally easy to create and require little paper work than other businesses like corporations and in some case would also be cheaper to create one because you are going to be dividing the capital amongst each
ID NUMBER :640717 ASSIGHNMENT: 1 Question 1 and 8 page 43 course text; Strategic Management planning for domestic and Global Competition
COURSE: Strategic Management
LECTURE: Maina Muchara Phd
DUE DATE: 21st /09/2015
Contents
INTRODUCTION 2
QUESTION 1 3
What is a mission statement 3
Insights from Nicors Inc mission statement: 3
QUESTION 8 5
Sole Proprietorship 5
Partnership 6
Corporations 6
Comparative Advantages 7
REFRENCES 8
INTRODUCTION
This assignment will talk about the insights of Nicors Inc mission statement and what perception of the company do you get from its mission statement we will also see in question 8 the legal advantages of Sole proprietorship , partnerships …show more content…
It’s a unique that sets a company apart from others
Insights from Nicors Inc mission statement: 1. In the Nicors Inc mission under the preamble we see that the company ahs principles that they have set for them self, s and they have pledge that they will put all their effort in accomplishing the purposes within the principles that they have as a company.
2. According to the mission statement we also see that the company is willing to perpetuate in an investor owned company and wants to engage in various phase of business , and with that they are able to create satisfactory products and services to their customers, so as to gain long term profit, this shows that the company is all about quality products and services and are geared to please their customers and make sure to give them the best.
3. We also see that they have a goal of meeting the customers ultimate needs, from the companies principles, this shows that they care so much about their customers that they work hard to please them and ensure that the customer’s needs are well accomplished and they are able to make the customer …show more content…
ADVANTAGES
Control- In a partnership, there is a lot of room for the partners to control the business, the partners are able to make big and critical decisions and actually take full charge of the business, which in other business such as corporations is not possible.
Taxes- when it comes to taxes the partnership usually does don’t file its own taxes but each individual files their own taxes, this is advantageous because if the individual falls back in taxes the company does not go down as a whole but just the individual. This may be desirable especially for smaller organizations
Survival- A partnership will only be terminated or get dissolved if any of the partners of the business dies or is incapacitated.
Formation- they are generally easy to create and require little paper work than other businesses like corporations and in some case would also be cheaper to create one because you are going to be dividing the capital amongst each