Assignment:
Rationale
Essays test a student's ability to assess information, formulate arguments, and critically evaluate different alternatives to issues or problems.
Instructions
In this assessment students must write a 2000-word essay based on the scenario below.
SCENARIO
Samantha, Monika and Matthew are international students studying at three different Colleges in Melbourne. They all live in the same shared accommodation in North Melbourne. Samantha has always been passionate about running her own business than working for an employer, and she is currently exploring business ideas, and her current study in Master of Business Administration is contributing to her increasing desire to run her own business. Monika has been working for MyHomeClean which is a Melbourne based cleaning company specializing in domestic cleaning. Monika has gained experience in domestic cleaning working for MyHomeClean. Matthew was a carpet cleaner for more than three years while he was in his home country in the UK. They all plan to stay longer in Melbourne after they finish their studies.
Samantha shared her desire to run her own business, and Monika and Matthew suggested that from their experience domestic cleaning is a good business and it is in high demand in Melbourne. Matthew suggested he will be the main carpet cleaner, and Monika will be the main domestic cleaner. Both Monika and Matthew are keen to be their own boss, and they are glad Samantha is bringing the idea of running business. Samantha is sure that she wants to run her own business, and she is happy with the idea of domestic cleaning business and its profitability. However, Samantha is not sure if she wants to start the business with Matthew and Monika or independently by herself.
Task
Based on the above scenario, in an essay format, and in a comparative way, explain to Samantha the advantages and disadvantages of the different business structures such as Sole-trader, Partnership, Joint venture, Franchise, and Company.