The Advantages of Changing a Business Into a Company James wants to change his business into a company; James will receive many benefits if he chooses to take this option. I am going to talk about the main advantages of changing his business into a company which includes the limited liability that James will be entitled to. A company is a business organisation that is registered under the Companies Act 1965[1], this legislation means that the organisation created is subject to different rules. If James incorporates his business into a company it will have two legal effects. The two legal effects are; the company becomes a separate entity or a legal person and secondly the company has perpetual succession which means the company will last until it is liquidated by an order of court. The law treats the persons who own and control the company as separate from the company itself. A company is an artificial person as opposed to a human who is a natural person. Most of the advantages which I am going to talk about stem from this separate entity which is created by means of incorporation. A company does not die but continues to exist until its name is struck off or dissolved through a legal process known as winding up or liquidation even though without any of its stakeholders. Perpetuity is a major advantage of incorporation as the company can live forever even without its stakeholders. In Re Noel Tedman Holding Pty Ltd (1967) the only two shareholders and directors of the company, a husband and wife died in a traffic accident. The company’s articles required the approval of the directors before shares could be transferred. Since the... ... middle of paper ... ...Modern Company Law (2003) Brenda M Hannigan Company Law (1993) [1] Company Law, Fundamental Principles (Stephen Griffin) 3rd edition - ISBN 0-273-64221-9 [2] Company Law (Mayson, French and Ryan) 2001-2002 eighteenth edition - ISBN 1-84174-199-X [3] http://www.rlrouse.com/incorporating.html - 02/01/2005 [4] The Principles of Modern Company Law 2003 (Gower and Davies) [5] http://www.companyregistrations.co.uk/companies-limited-by-guarantee.asp - 02/01/2005 [6] Company Law (Mayson, French and Ryan) 2001-2002 eighteenth edition. ISBN 1-84174-199-X [7] http://www.startinbusiness.co.uk/flowchart/5flowchart_offshelf.htm - 02/01/2005 [8] Company Law (Mayson, French and Ryan) 2001-2002 eighteenth edition. ISBN 1-84174-199-X
Public relations are the practice of distributing the information between an organisation or individual and the public. The aim of PR practitioners by the client is often is to persuade stakeholders, partners, employees, investors and most importantly, the public. The practitioner’s communication stance is reaching the individuals or organisation ultimate goal. However many can examine and scrutinize public relations ethics to assert a PR problem within the industry. All PR organisations and individuals have a code of ethics of which the professionals are expected to follow. Regardless of these guidelines, ethics in individual practices seem to prove continuous and consistent violation worldwide. The James Hardie Industry, a company that is known for knowingly using products that caused thousands of people throughout Australia to grow to become sick and even resulting in death, from its products that produced massive profits is a prime example of the PR problem. However ethical communication and critically reflective practices are procedures that benefit both the public and the organisation when use correctly, opposite to the James Hardie case.
In 1789 James Madison introduced the Bill of Rights-the first ten amendments of the Constitution, to the First Congress. The Bill was heavily influenced by Virginia’s Declaration of Rights and used primarily to protect the citizen’s rights and liberties as well as, as a limitation on the federal government. The “original Constitution contained few guarantees” for civil rights and liberties therefore, the Bill of Rights strengthened them mitigating fears about the new national government (O’Brien 324). Madison and Anti-Federalists hoped to place the same restrictions on states. They found the Bill of Rights practical, explicit, and essential while Federalists found it unnecessary and potentially dangerous. Hamilton seeks justification against the Bill of Rights using the Constitution’s preamble which briefly notes the “liberty” and “prosperity” afforded to the American people (326). He also argues that the Bill may be dangerous because these exceptions being placed on powers have not yet been granted (326). Nonetheless, in September on 1789, Congress proposed 12 amendments to state legislatures which were shortly ratified thereafter in 1791 (326).
What major technology change has had the greatest impact on the quality of your life?
By far the most widely pursued corporate strategies of business firms are those designed to achieve growth in sales, assets, profit, or some combination of these. There are two basic corporate growth strategies: concentration within one product line or industry and diversification into other product and industries. These can be achieved either internally by investing in new product development or externally through mergers acquisitions or strategic alliances.
The accounting practice of AIG was morally wrong and goes against the key public relations principle of Ethics. This co...
The banking system in Panama makes use of the advanced modern technologies. In Panama City, there are approximately 100 internationally renowned banks. The presence of strict regulations regarding the banking sector by the government has seen the banking sector grow tremendously (Arboleda & Martín 152). For instance, the Panamanian government has come up with strict banking rules and guidelines, to scrutinize all the banking practices so that the banks can give good banking services to all people. To ensure this occurs, the government has ordered the submission of monthly auditing reports from all the banks to the National bank of Panama and to the Panama’s National Banking Commission. All the depositors in any bank need sureties of their securities,
Staying true to them will guide us toward continued growth and success for decades to come. As you read more about our vision and values, you will learn about who we are, where we’re headed and how every Wells Fargo team member can help us get there.”(Wells Fargo, 1999). The low accountability Wells Fargo has behind their statement makes them look worse after their 2017 scandal. They have a clear indication of how Wells Fargo is supposed to be running the company, but the company has acted in a different manner. It makes you ponder how reliable statements of those at the top of the company are when they speak to the public. Even though Wells Fargo has made vast changes to their management team, one must wonder if they’re way of improving the company has changed over time. Wells Fargo’s replacement CEO for John Stumpf, Tim Sloan, told the Senate Banking Committee that, “[Wells Fargo] is a better bank today than it was a year ago” (White, 2017). A year later, 2017, Wells Fargo has made no significant positive progress toward turning the company back into what it used to be before the
High school seniors takes deep breaths and parade onto the stage. The beginning of a new chapter awaits as they make the journey from one point of the stage to the end. They reflect on what they have been taught in those many years of high school. The most terrifying fact while graduating high school is the next step: making it on their own. Because they have taken part in the appropriate classes, the students are certain that they have gained the correct knowledge to begin making their mark on the world. In high school, it is crucial to achieve the appropriate classes in order to feel ready to take on the world ahead as an adult. However, many students lack proper education. One key example is financial literacy. Financial literacy is the
The topic offers a brief discussion on investment banking and its relationship with the research division. Investment banking acts as an intermediary between investors and corporate issuance firms during initial public offerings (IPO’s). It also performs various functions such as aiding firms in mergers and acquisitions. In addition, investment banking relies heavily on information regarding market intelligence. This necessitates the importance of a research department that performs the duty of carrying out research on the market conditions. However, there is a conflict of interest since investment banking relies on this research to capitalize their gains. As a result, the Global Research Analyst Settlement found it necessary to formalize separation of these two departments in order to prevent exchange of information (Morrison and Foerster 2).
The capital structure of a firm is the way in which it decides to finance its operations from various funds, comprising debt, such as bonds and outstanding loans, and equity, including stock and retained earnings. In the long term, firms seek to find the optimal debt-equity ratio. This essay will explore the advantages and disadvantages of different capital structure mixes, and consider whether this has any relevance to firm value in theory and in reality.
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization.
When entrepreneurs plan their business future they will consider how they can increase their business size or profit in a short period. Entrepreneurs may consider growing their business or company by using a merger or an acquisition. These methods can be a speed up tool and a short cut to enlarge their business. (Burns, 2011) Also they can reduce competition, make it easier for entrepreneurs to think about the market and product development and risk reduction. Furthermore, some lesser – known companies can improve their firm’s image and market power by using merger and acquisition with larger firms. However, there may be risks associated with merger and acquisition related to lack of finance and time. (Burns, 2011) This essay will discuss more deeply the advantages and disadvantages of using mergers and acquisitions, showing how it can affect firms and market with the case study.
It is a known fact that the banking industry plays a huge role in today’s society, the industry has grown rapidly of many decades and still growing. The banking sector is that sector of the society that is actually responsible for the handling of financial assets for other sector of the economy, they do this by investing the financial assets in order to create more wealth in the society while regulating all the activities involved in the process. (What is the banking Sector 2015)
A variety of groups are concerned in bank profitability for various reasons. The bank shareholders would want to know if the value of their investments is high or low. The investors also use current and past performance to predict future price of the banks’ shares traded on the stock exchanged. The management of the bank as trustee of the shareholders is evaluated and compensated on the basis of how well their decisions and planning have contributed to growth in assets and profits of their banks. Employees of bank also are concerned with profits, since their salaries and promotions are frequently tied to the profitability performance of their banks. Depositors use bank performance and profitability as indicators of security for their deposits in the banks. Finally, business community and general public are concerned about their banks’ performance to the extent that their economic prosperity is linked to the success or failure of their banks.