Assignment: Sole proprietorship will be my business choice.
Type: Clothing Store
• A name for your business, a brief mission statement reflecting the primary goals of the business, and an explanation for why you chose this name and mission statement. You will explain how this mission statement is drafted so that it is clear, concise, and meaningful to your business's stakeholders.
• An examination of the three most appropriate legal forms (Sole Proprietorship, Corporation) of business for your venture. Include a detailed examination of the advantages and disadvantages of these three forms and an evaluation of these six factors:
o creation and maintenance
o continuity
o ownership and control
o personal liability
o compensation and division of profits
o taxation
• A choice of the best legal form of business for your new company from the three you considered and a full explanation of your choice.
• A detailed diagram of your organization chart and a rationale explaining structural decisions reflected in your organization chart, including:
o the titles of the different individuals and why you chose those titles
o the tasks the different individuals and groups will have for contributing to the aims of the company
o the reporting structure (who will report to whom and why)
o a choice regarding outsourcing the human resources function, including a detailed analysis of the pros and cons of outsourcing the human resources function
o all other relevant factors (for example, will your business structure be functional, centralized, decentralized, etc.), including how your chosen structure will contribute to your long-term aims of going national and international, or how it will need to be modified to achieve these aims
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.