1) SOLE PROPRIETORSHIPS (or DBA)

A sole proprietorship (also known as DBA, short for “doing business as”) is the simplest and least expensive structure that may be chosen to start a business.

It is an unincorporated entity owned and run by one individual with no distinction between the company and its owner, who is entitled to all profits and has unlimited personal liability for all the company’s debts, obligations and losses.

2) PARTNERSHIPS

A partnership is a vehicle where two or more people share ownership. Generally, each partner contributes to all aspects of the business, including money, property, labor and skills and will share in the profits and losses of the business.

There are two main forms of partnerships:

1)      General Partnerships; where liabilities and managerial duties are divided equally among partners. Furthermore, partners are not only liable for their own actions, but also for the decisions made by the other partner(s); and the personal assets of all partners can be used to satisfy the partnership’s debts.

2)      Limited Partnerships; where some partners may have limited liability (to the extent of each partner’s investment percentage in the partnership), but will also have limited input with management decisions (the Limited Partners). However, limited partnership must have at least one general partner, which will have unlimited liability.

Regarding taxes, a partnership must file an “annual information return” to report the income, deductions, gains, losses, etc., from the business’s operations, but the entity itself does not pay income taxes: it “passes through” any profits or losses to its partners, which will include their share of the partnership’s income or loss on their individual tax return.

3) CORPORATIONS

A corporation is an independent legal entity that is separate from the people – so called “shareholders” – 

There are two different kinds of Corporations:

1)      “C” Corporations (in reference to Subchapter “C” of Chapter 1 of the Internal Revenue Code, “IRC”, which governs them) are legally considered separate entities from their owners. Income is taxed at the corporate level and it is taxed again when it is distributed to owners as dividends, what is known as “double taxation”.

2)      “S” Corporations (named after subchapter “S” of Chapter 1 of the IRC)

is a special type of corporations created through an Internal Revenue Service (“IRS”) tax election. After a corporation has been formed, it may elect “S” Corporation Status by adopting an appropriate resolution and completing and submitting a form to the IRS. In order to qualify for “S” Corporation Status, the corporation must meet the following requirements: be a domestic corporation (located within any state in the US), have only US citizen or US resident shareholders, have no more than 100 shareholders, have only one class of stocks, not be an ineligible corporation (i.e., certain financial institutions, insurance companies and domestic international sales corporations)

4) LIMITED LIABILITY COMPANIES (LLC)

It can be best described as a hybrid between a corporation and a partnership because it provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.

There are two different management structures of a LCC:

1)      Member management: assume that members participate equally in the management of their business. This is more frequent to find in small LCCs.

2)      Manager management: in which one or more owners (or even an outsider) is designated to take responsibility for managing the LCC. Only the named managers get to vote on management decisions and act as agents of the LCC.

There is no maximum number of members. Most states also permit “single member” LCCs (i.e., those having only one owner).

5) COOPERATIVES

A cooperative is a business organization owned by and operated for the benefit of a group of users using its services.

Profits and earnings generated by the cooperative are distributed among the members, also known as user-owners, who contribute equity capital.

LLP is a hybrid between a private limited company and partnership. It is similar to conventional partnership but with the advantages of a private limited company. Set out below are the salient features of LLP:-

It is body corporate and is a separate legal entity from its partners.

LLP has perpetual succession.

It is capable of suing and being sued, acquiring, owning, holding and developing or disposing of property.

LLP has lesser compliance requirements and is therefore a more affordable business vehicle. For example, LLP is not required to audit its accounts annually.

Fiona was a young woman just starting out in life. She had a wonderful job which she loved and a happy partnership. Unfortunately, Fiona had fallen prey to the trappings of credit cards which left her extremely stressed and scared. Because she had a stable income, offerings by financial institutions to take up a new credit cards seemed like a good idea at the time – until they mounted up. Thinking it would be helpful, she took advantage of transferring debts from one card to a new interest free card with the intention of cutting up the old card  but that plan backfired. Soon the debts became so high she was taking cash advances to repay minimum repayments on other cards. It was a downward spiral. Fiona did not commit any crimes. She simply got caught up in a credit card life sentence! Fiona owned a car but had no other assets.

 

SITUATION

Jamie and his Mum Anita were joint directors of a company. Within that company they owned and operated a Cafe/Restaurant with Jamie taking charge of the kitchen and Anita running the restaurant. Although they had a good following and lots of positive feed back from customers, with the current economic climate, the figures took a steady decline. As with many businesses, putting aside for debts are often the last thing they can manage to do. They both rallied and tried to do whatever they could to keep everything going, putting in long hours, streamlining menus etc with the aim of making the business more profitable and catching up on the debts. They even re-branded the cafe/restaurant and re-vamped the decor which turned out to be a winner with the public and business began to recover slightly. Sadly, it was too late to catch up despite their best efforts and positive feedback on the food and new vibe. They had become too far behind on their  debts and lease obligations.

 

Running a business during bankruptcy

Adrian is a 36-year-old tradie from Queensland. He runs his own odd-jobs business, called Adrian’s Assistance. Adrian earns $40,000 a year.

Adrian and his wife rent their apartment in Logan City. Adrian owns a van worth $6,000 which he uses for work. He also owns work tools which are worth around $3,000.

Being self-employed, with a young family at home, Adrian struggles to find time to keep records for his business. He was surprised to discover he owed $100,000 of business-related debt to the Tax Office (ATO).

Also, being a tradie, Adrian’s income can be inconsistent. He relies on credit cards to pay for essentials, and he owes the bank $20,000.

Adrian spoke to his accountant, who referred him to a registered trustee to discuss bankruptcy.

The registered trustee explained to Adrian some of the ways bankruptcy would affect him:

Adrian would be released from his unsecured debt (ATO* and credit card)

Adrian could keep his van because its value is below the vehicle threshold**

He could also keep his work tools because their value is below the threshold**

Adrian could continue to work as a sole trader. However, he would either need to tell people he is bankrupt, OR change his business name to include his full name

Adrian would not have to make compulsory income payments because he earns under the income threshold***

Meanwhile in US (United States) 
1.Sole propetrioship
2. General Partnership
3.Limited Partnership
4.C-corporationship
5.S-corporationship
6.Limited Liability Company

The basics of setting up a business entity in Malaysia isn’t so difficult to understand: 

There are three (3) different types of business entities to choose from

1.Sole Proprietorship (also known as Sole Trader)
2. Partnership business entity

3. Limited Company (SDN. BHD. or Sendirian Berhad or BHD. or Berhad)

Have different types of business entities available in Malaysia for:

1, Foreign Companies
2. Limited Liability Partnership

every type of this have their own advantages and disadvantages

 

In this situation, Fiona is too young and naive. She's too quick to make a decision. she should ask an experienced person and she had to make a research first before making any decision in accept offer by financial institutions to take up a new credit cards so that there would be no regret with her decision.

Jamie and his mum has a great idea for open a restaurant. They had a great job in good following and lots of positive feedback from customers and decor. They also work hard for running a restaurant but sadly their have to pay their debts.

In this case study Nokia, Nokia such a biggest company that make a mobile phones. They had sold their mobile phones around half in a billions around the world. But their collapse in short of time. This is because they are too confident and hubris. They did not do anything in building content in the future. While Motorola and Samsung start to make a bigger mobile phones and take advantages from Qualcomm, Nokia still in their old product and make a little difference like colour and bigger battery. They did not make a innovation in the mobile phones program. That why they are collapse in the technology industry.

Nokia disappears because they didn’t changed and upgraded themselves by the time. Nokia’s demise from being the world’s best mobile phone company to losing it all by 2013 has become a case study discussed by teachers and students in business management classes. No single approach can facilitate the company achieve the success within such a dynamic and complex mobile phone industry. Therefore, the various approaches should be viewed as complementary. Because Nokia adopted the balanced various approaches in its previous time, it gradually achieved the market leader position. Since Nokia lost the control to make sense the market trends and concentrated on its planned strategy, the balance between the different approaches also lost. Thus the company’s market share fell immediately. As Nokia adjusted its strategy, aligned its internal strengths and external opportunities and balanced the planned strategies, the company recaptured its market share again. 

 

Nokia is not able to present a smart phone that can compete strongly against iPhone. Thus, the investigation of this issue will lead to the identification of the factors that caused company to face such severe threat of declining market share and the actual reasons for the problems could be better identified. Nokia’s technology was inferior to Apple. The arrogance among top-level managers and also, they lack of vision. The analysis of the case leads to identification that Nokia made huge R&D spending and despite such effort, it has not been able to launch a smart phone that can compete in the industry. The major managerial issues as identified from the case analysis suggest that Nokia has failed to successfully integrate the strategies as developed by it into its products. Besides, it has performed innovation in launching new smart phones, but they were not that innovative to compete against iPhone and other smart phones by Samsung, and also, even after devising important innovative concepts, it failed to introduce them into the markets. This is mainly because of ineffectiveness on the part of management at Nokia, as they failed to create an impact in the market with their windows smart phones.

 

Company culture is not to be taken lightly. In fact, company culture is a major factor that contributes to the company’s development and ability to compete and be successful. Company culture starts at the top and grows at the bottom. It includes mission, values, environment, ethics, expectations, overall mood, goals etc. But unless the company’s leadership fully embraces them, they are just beautiful but empty words. Leaders must embody the company’s values and be role models for their employees.

 

We are living in the era of the Industrial Revolution 4.0 where technological advancements have led to disruptive trends in almost all industries, including marketing. The new marketing strategies that should be possess by the new entrepreneurs in this new era of Industrial Revolution 4.0 that we can use is firstly, use social media to reach out to a broader audience. Social media may not exactly be completely new on the marketing scene but there are dozens of social media platforms to choose from, the key is picking the ones that make the most sense for your target audience and marketing goals. For example, Instagram, Facebook and many more. Secondly, the most important strategy is content. This could be blogs, whitepapers, e-books and guides, digital reports or info-graphics the main takeaway is that providing great content portrays you as an expert in your field to potential customers while giving them a reason to continue engaging with you. Third, utilize data for predictive analysis and insight into Market. Using data to your advantage means allocating resources to finding out what data you should be gathering, which analytical tools you should use, and how to turn that data from raw information into insights, and from insights into impactful, measurable marketing strategies. The data will boost our ability to successfully engage with customers; we won’t just know who they are, but also what they want, where they are, and how they’d prefer to be contacted. We can also discover what it is that influences our customers’ loyalty, building on it to ensure repeat business time and time again.

 

In my opinion, we have to hire two or three employee that have the credibility and skills that the company needs.

 

Ø  Expectation of candidates 

1.      Tell me about yourself.

2.      How would you describe yourself?

3.      What make you unique?

4.      Why do you want to work here?

5.      What interests you about this role?

6.      What are your greatest strengths?

7.      What are your greatest weaknesses?

8.      What are your goal for the future?

9.      What is your salary range expectation?

10.  Why should we hire you?

 

Nokia is experiencing the downfall of being accused and ideologically tainted.  In addition, the Nokia looks old-fashioned although the phone is durable and it's a bit burdensome.  As a result, Nokia also suffered a stock issue when the Iphone apple brand started to grow and Nokia could not respond to the challenges and changes in the company's organization led to the downfall of the organization.  Finally, it led to the decline in marketing and profitability and the closure of the company as a result of the increased paradox.

 

No 3

In my opinion, we should handle things smarter and systematically because the importance of the product depends on the management of the company in terms of the organization in which the organizational success of the product is realized.  In addition, organizations need to be strengthened from existing positions and marketing operations are a priority in a product, without a marketing unit the severity of the crisis will decline.  Therefore, for technology-related companies it is important to constantly look at the technological advancements in order to give the customer a sense of the sophistication of each phone product and as a company there is a need for good cooperation with both parties to upgrade the relationship without betrayal.  from either side.  Indeed, despite the great competition of other companies we should be able to deal smarter with the study of the benefits of such competition.  Finally, a company needs to find attractive ideas or even more powerful strategies for dealing with competition.

- Easy to carry

- Long lasting

- Unique

- Colourful

- Eco Friendly Product

1. Instagram:

2. Facebook:

2.      How Did You Hear About This Position?

3.      Why Do You Want to Work at This Company?

4.      Why Do You Want This Job?

5.     Why Should We Hire You?

6.      What Are Your Greatest Strengths?

7.     What Do You Consider to Be Your Weaknesses?