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BUS 005 Homework #
BUS 005 – Intro to Business
Homework Assignment
September 15, 2008
Due: September 19, 2008
50 Points
Name_______________________________
A. CHOOSING A FORM OF BUSINESS OWNERSHIP
The needs of the businessperson starting a new business are a major consideration when deciding the best form of business ownership. The kind of business being started is also important to consider when deciding to make your new business a sole proprietorship, partnership, or corporation. Look at the list of new businesses below. Indicate the form of ownership you think would be best for each business. Give the reason for your selection.
BUSINESS FORM REASON
Swimming pool repair
Flower shop
Internet-based specialty store
Termite control service
Textbook publishing company
Law firm
Underwear manufacturer
BUS 005 Homework #
Child care center
B. WHO IS MOST ADMIRED NOW?
purpose:
To identify the most admired corporations in the U.S. and the factors Fortune magazine uses to rank these companies.
exercise:
Each year Fortune magazine asks top executives, outside directors, and securities analysts to evaluate the companies in their industries on each of eight criteria. These criteria are added together to obtain an overall “admired” score. Go to the Fortune magazine Web site (www.fortune.com) and identify the Fortune most admired corporations for the current year. (Sometimes the web address for a location changes. You might need to search to find the exact location mentioned.)
- What are the top ten admired corporations for the current year?
- What are the eight criteria Fortune uses to rank these companies?
- Choose one of the top ten companies and visit its Web site. Write a brief summary of the company, including major products or services, corporate officers and board of directors, and key financial information.
BUS 005 Homework #
D. CAREER SWOT ANALYSIS
SWOT analysis, the key tool in the strategic planning process, can also be applied to career planning. A SWOT analysis focuses on the internal and external environments, examining strengths and weaknesses in the internal environment and opportunities and threats in the external environment.
Use Figure 7.3, “SWOT Matrix,” presented on text page 187 and conduct an analysis of your career planning. (SWOT diagrams are also available at numerous We sites such as www.quintcareers.com/SWOT_analysis.html.)
- Strengths:
- What advantages do you have?
- What do you do well?
- What relevant resources do you have access to?
- What do other people see as your strengths?
- Weaknesses:
- What could you improve?
- What do you do badly?
- What should you avoid?
- Opportunities:
- Where are the good opportunities facing you?
- What are the interesting trends you are aware of?
- What changes in technology and markets are occurring on both a broad and narrow scale?
- What changes are occurring in social patterns, population profiles, lifestyle changes, etc?
- Threats:
- What obstacles do you face?
- Are the required specifications for your career changing?
- Is changing technology threatening your plan?
- Do you have bad debt or cash flow problems?
- Could any of your weaknesses seriously threaten your future?
USE ADDITIONAL PAPER IF NECESSARY…
