Based on all different types of business organizations

Assignment Help Operation Management

Reference no: EM131701981

Four Friends – Melanie, Elka, Victoria, and Joy – meet once a week to play euchre. During the course of one such meeting they began discussing the possibility of going into business together. Melanie, who is thirty-two years old, is currently working as a baker for Tasteful Bakeries, earning $25,000 a year. She loves her work, and has long dreamed of opening her own bakery. She even has a name picked out – BakeEm Fresh Daily. Unfortunately, she is a single parent raising two small children and does not feel she can afford to invest any of her approximately $5,000 in savings into such a business. Her friends, however, think that they may be able to help.

Elka, a sixty-seven-year-old retired principal, just won $200,000 in the state lottery. Also, she has $50,000 in retirement savings. Enjoying her retirement, she does not feel she would want anything to do with the day-to-day running of a business. However, assuming her money would not be at risk, she would be willing to invest up to $100,000 in the business.

Victoria, a twenty-two-year-old college student recently inherited a small two-story building, worth $70,000, in the downtown area that could easily house a bakery. She would be too busy with classes to help run the business, but she would be willing to let the others use her building to house the bakery.

Finally, Joy is twenty-six years old. She currently works odd jobs for a local housekeeping company. However, she feels that she is a born salesperson and manager. Of the $15,000 she has in savings, she feels she could contribute up to $8,000 toward the business. She would love to quit her current job, at which she earns $17,000 a year, to serve as the bakery salesperson and manager.

Based on all the different types of business organizations we have covered over the last several chapters, you need to discuss each parties concerns, interests, etc. and determine what would be the best type of organization they should create.

Reference no: EM131701981

Questions Cloud

What is the upper tolerance limit-what is the sigma value : What is the upper tolerance limit? What is the sigma value? What is the Cp?

Patient is entitled to as much information as the physician : Patient’s rights advocates argue in response that the patient is entitled to as much information as the physician is.

Upper-level managers were primarily thinking types : Hallmark Cards discovered that its mid- and upper-level managers were primarily thinking types,

Why is customer service an extension of marketing : Why is customer service an extension of marketing? What sources of information can you use to develop a customer profile?

Based on all different types of business organizations : Based on all different types of business organizations we have covered over last several chapters, you need to discuss each parties concerns, interests, etc.

Calculate the multifactor productivity of each firm : Calculate the multifactor productivity of each firm. Now who is the most productive and what is the percent difference?

Ethics and social responsibility in effective management : Ethics and Social responsibility in Effective Management. Let's say that Company X has a large and profitable plant in an American town.

The interior of the house had to be completely repainted : Fox stipulated in the contract that before he moved in, the interior of the house had to be completely repainted.

Consumer behavior research can be expensive-time consuming : Consumer behavior research can be very expensive and time consuming. How do companies decide/justify spending money on research?

User Account

All Pages