Individual personalities to success of entrepreneurial team

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Reference no: EM131179322

Ted Green and Mark Strode, became close friends as 16-year-olds when both worked parttime for Green% dad in his automotive parts store. After high school, Green went to college, while Stroder joined the National Guard Reserve and devoted his weekends to auto racing. Green continued his association with the automotive parts store by buying and managing two of his fathers stores.

In 2005. Green conceived the idea of starting a new business that would rebuild automobile starters. and he asked Stroder to be his partner in the venture. Origi-nally, Stroder was somewhat concerned about working with Green because their personalities are so different. Green has been described as outgoing and enthuslas. tic, %stile Stroller Is reserved and skeptical. However, Stroder Is now out of work, and so he has agreed to the offer They will set up a small shop behind one of Greens automotive parts stores. Stroder will do all the work; Green will supply the cash. The partners have agreed to name the business STARTOVER. and now they need to decide on a legal form of organization.

1. How relevant are the individual personali-ties to the success of this entrepreneurial team? Do you think Green and Stroder have a chance to survive their partnership? Why or why not?

2. Do you consider It an advantage or a disad-vantage that the members of this team are the same age?

3. Which legal form of organization would you propose for STARTOVER? Why?

4. If Stroder and Green decided to incorpo-rate, would STARTOVER Qualify as an S corporation? If so, would you recommend this option? Why or why not?

Reference no: EM131179322

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