CASE STUDY
JJ Times
Background
John works in his father’s clothes store. The store has a small number of regular customers but, because of its location, the store struggles to attract new ones. John’s father knows that in order for the enterprise to survive he must constantly attract new people to the store. At school John had studied Enterprise and he had been very successful at attracting potential customers. John’s father thought that with his entrepreneurial skills John would be able to think of ways to attract customers to the store and he asked John to help him.
The research
John decided that the first thing he needed to do was carry out some primary and secondary research. He asked his friend Jane to help him. They found out the
…show more content…
Unfortunately Jane’s printer broke down before they could complete the printing of the first newsletter. The friends had to use the rest of their savings to pay for the repairs. The broken printer meant that some newsletters were not delivered on time and the friends received complaints. John and Jane realised that to retain customers they had to make sure that in future the newsletter was printed and delivered on time. With all of their savings spent on repairs, John and Jane did not have any money to buy more paper and ink. They would need to borrow money for the next issue of JJ Times.
The future
John prepared to negotiate a loan with his father. Jane arranged an expensive bank loan without telling John. When he found out John was very worried and he remembered his Enterprise teacher warning him about the disadvantages of an enterprise operating as a partnership. John decided that he and Jane should write a deed of partnership (below) and a business plan.
PARTNERSHIP DEED
Name of Partner One (INSERT NAME) Name of Partner Two (INSERT NAME)
Address of Partner One (INSERT ADDRESS) Address of Partner Two (INSERT ADDRESS)
The capital of the partnership will be $ ............ . This will be contributed by the partners in the following amounts:
Partner One 40% $ ............
Partner Two 60% $ ............
Profits will be shared according to the capital invested.
Partner One (INSERT NAME) – 40% of profits
Partner Two (INSERT NAME) – 60% of
is happy to speak his mind. Early on we discover that in fact John had
They talked some more, all John could remember was that he had awoken, with an intense unsettling feeling and a wound on his head. His fingers ran along his wedding ring as he recalled the events of yesterday; John could not locate his wife. He had searched every room in his house. A chill ran through his body; he had not yet searched the basement. With shaky hands and one final yell of her name, he opened the door peering into the darkness beyond the stairs.
Partnership – “A legal entity formed by two or more co-owners to operate a business for profit.” (Longenecker, Petty, Palich, Hoy, Pg. 202) In a partnership, the advantage for the owners is the capability to reduce the workload and the financial burden, especially if each partner has management skills that enhances the business. The disadvantages of a partnership such as personal conflicts and leadership expectations, therefore this organizational form should only be chosen once all other options have been considered.
When John completed primary schooling, his family decided to relocate to another city where they know that John would be able to excel in a prominent school where he could utilize his skills and talents more effectively. As time progress, J. P. had mastered his way with his secondary education. The family decided it was time to move again and at that time John was ready to go to college. He planned to enroll in a University where could possibly receive a degree in mathematics. He finally decided that since they were living in London he would sign up at the University in Germany. During his duration at the University, John met the Amelia Sturges. While married, Amelia suffered with a disease that took a turn for the worse. In the early 1860s', Amelia departed life from John. Years later, John decided to remarry to Frances Tracy.
Time Inc. has clearly found its success in utilizing both internal and external secondary data in order to help launch new magazines and special issues.
Part of the $100,000 investment from each member will be put into equity and part will be put into a loan payable to the individual member from the company. Our accountant suggests we have $20,000 of each member’s investment in equity and $80,000 of each member’s investment in a loan payable to the
see John struggling in his marriage and with himself because of his affair with Abigail Williams..
Make a situational analysis of the traditional department store industry and of Macy’s as of 2005. Which factors in the external environment could (positively or negatively) affect the success of Macy’s new strategy? Which internal factors could affect the success of the company’s strategy? (don’t forget to look at the exhibits!)
In “Strategic Partnership” alternative, Globals will receive a sum of $3.5 million to form a Join Venture of 50:50 with the property development firm, making the total outstanding shares to 2,000,000 and weighted average of 1,500,000. Net Income will come to $514,500, with an EPS of 0.26.
John began her treatment by giving his spouse medicine to help with her recovery. The theory
The entire newspaper industry is in a period of uncertainty, including the nations top performing newspapers. USA Today is among the best newspapers, yet the company is struggling to maintain readership. In a world where consumers have information available to them at the click of a button, USA Today has attempted to keep up with new trends in information consumption (Ferrell & Hartline, 2011).
In writing the business plan, I determined our target market and our marketing strategy to gain a share of the market. I also had t...
In 2008, Jane Whitler had opened a high-end used furniture retail store in a metropolitan area in the Southwest United States. Her business has been flourishing due to the increasing aging population in the United States. A major part of her market segmentation is snowbirds (people who travel south during winter from colder states). She is able to buy their used furniture at a reasonable price as they move to different houses, or if they move to care facility. The retired market is also her target market for selling her furniture. This is because as the retired people are moving from their homes in the north to their homes in the south permanently, they tend to buy their furniture from her store. By the end of 20ll, Jane was pleased with her sales, as they approached close to $2 million. However, has she looked back her records, she couldn’t figure out how she was still losing money. In 2009, she lost 68,000, in 2010 the loss was $31,000, and in 2011 it was down to $20,000. She determined that 2012 would be profitable, but sales began to plateau.
Deciding how important decisions are made is crucial in any business structure, but even more so when there is more than one owner. Therefore, the partnership agreement mandates how the owners will make decisions by either unanimous vote or by majority vote. Capital contributions include funds provided by the partners to be utilized in the business. The partnership agreement dictates how much each partner will contribute to the business as well as plan for future financial obligations. Salaries and distributions are often classified as partner withdrawals and profit/loss allocation. The partnership agreement establishes when money is available for withdrawal and how much of the profits and losses are allocated based on capital contributions. All business entities should be prepared for worst-case scenarios involving death, disability, and dissolution. Deaths and disabilities are untimely, so the partnership agreement outlines who inherits the partnership’s assets through trusts and wills. Dissolution is never a pleasant topic to think about in the beginning, but it is essential nonetheless. The section inclusion in the partnership agreement enables the partners to be prepared in the event that a dissolution does occur (Neville
The first part provides reasons why starting a new business is profitable in terms of having higher or bigger possibility for growth of the business and higher rate of return. The second part highlights the originality of starting a new business as an entrepreneur. The last part mentions why starting a new business is more entrepreneurial than franchising in terms of entrepreneurial skills and