Broward College Business Law

Broward College Business Law. Broward college offers a wide range of degrees and certificates with day, evening, and online classes. Results will link to pages containing your terms;

What is a Business? A business is a type of company that is set up to provide services to a client. One of the primary goals of a business is making money, however, there are many other things that can happen by the company. It is true that the principal goal of a firm is to meet a client's requirements and desires. According to Peter Drucker argues, this is the only real idea of business. With no clients, a company cannot survive. Internal functions are activities in the workplace Internal activities are done within the business for the achievement of a certain set of objectives. These activities may include policy and procedures. In order to make them effective, guidelines and policies must be well-thought out, implemented and shared across the entire organization. The high-level management of an organization has to send a clear signal that the responsibility for controlling any risks or errors is a crucial issue, and that internal control should be of top priority. Also, all employees must understand their role in internal control and have the capacity to communicate significant information upstream. Marketing and sales activities are just two examples of internal functions. Sales managers are accountable to ensure that their merchandise and services are delivered to customers at the right time. They are also responsible for ensuring that they reach all areas they are focused. Alongside these essential activities, internal functions include functional support that allows the internal and external business functions to run smoothly. The managers of these functions give relevant information to management in order that they can take strategic decisions. Internal controls reduce the risk of errors secure information, avoid mistakes, and stop fraud. Without internal controls, financial statements are non-reliable, and operational efficiency can be compromised. They can also affect the reputation of the company. This is why it is vital the establishment of internal controls to guarantee the integrity of organisation's financial reports as well as prevent theft and fraud. Profit is the metric used to determine performance of a business Profit is measured in both relative and absolute terms. In absolute terms, the term "profit" is the amount earned over a set period of time. In terms of ratio, profit is the amount profit as a percentage of revenue. Profit is an important indicator for businesses as it creates an incentive for them to invest and take risks. Achieving profitability is the principal goal of any business. Without it, any business is doomed to fail. Profitability is determined by two factors such as expenses and income. Income is money made from the selling of a product or service. It is not inclusive of the expenses of acquiring capital. Costs are the expenses of running the company. Profit is the revenue a business makes after deducting expenses. The higher the margin of profit more profitable the business's performance. Another crucial factor to consider is quality of the customer's satisfaction. A high degree of customer satisfaction can assist a business improve its products and services. Surveys, emails, or surveys with customers are typical methods of collecting this data. Profit does not define success. It means different things to different companies. For instance, a large-scale shop might be successful when it is in the position of breaking even, and/or when it has an average profit of about PS2,000 per week. Achieving break-even is a major achievement for a business in its first year, but it's by no means an indicator of achievement. Trade cycles make business more risky There are four phases in the cycle of business. Each phase differs in the length of its duration and impacts the economy, including inflation, employment rates, and consumer spending. These cycles are monitored by central banks, and are among the major factors that determine the monetary policy of their banks and short-term interest rates. These cycles are identified by a contraction, peak and the trough. Understanding the phases of business cycle can aid investors in understanding the economic conditions. The initial period of the trade cycle is known as the expansion phase, and the second phase is the contraction phase. When the economy is in the contraction stage, the economy reaches its peak growth rate and does not continue growing. This causes unemployment rates to increase, while incomes fall. Also, the economy enters a bear market as investors sell their holdings. The contraction phase could be caused by an explosive rise in interest rates or a financial crisis or an explosion in inflation. Small-sized companies contrast with. medium-sized companies There are many ways of categorizing companies. One way is through the amount of employees. Small businesses are generally defined as having less than fifty employees. A mid-sized firm has between 50 to $ 1 billion in revenue. Large companies usually exceed $ 1 billion in revenue. While big companies dominate certain industries the work and products are done by small and mid-sized companies. The differentiating between small and mid-sized businesses is important because each kind of business employs a distinct number of employees. Though small-sized companies usually employ less than 100 people, mid-sized businesses could employ tens of thousands. Mid-sized and small-sized businesses can also benefit from different organizational software and company structures. In addition to these differences, the size of a company could affect the type of work environment it has. Smaller firms may have more flexibilityfor instance that it has streamlined its communication and decision-making process. Smaller businesses might have the ability to take action faster than larger corporations. A small-sized business might also provide flexible hours as well as work-from-home options and bonuses that aren't too common. One benefit of working with small businesses is that they can be more imaginative and focused in their sales strategy. In addition, small-sized businesses are more likely to experiment with solutions and try them out to see if they are effective. They can also make decisions more quickly and less complex than larger enterprises. Moreover, small businesses will frequently refer other small businesses to their solution if they're happy with their solution. Subchapter S corporations Subchapter S corporations are closely linked to other kinds of corporations. Basic procedures for incorporation of businesses are the same but the primary distinction is the kind of ownership. A majority of individuals are allowed to hold shares in S businesses. There are regulations regarding who is an investor. If you're considering to start your own business, you should seek advice from professionals. Legal and tax professionals will provide you with professional advice. Additionally, you can join in the CorpNet Partner Program, a collection of businesses that offer business legal and formation services as well as compliance and tax services. Through referring clients, you can earn extra revenue. If you are an S business, you'll save on taxes. Subchapter S corporations are not taxed at the corporate levels, so your profits aren't taxed twice. In addition, S corporations don't have to pay for payroll taxes or Social Security or Medicare taxes. This makes them much more tax-efficient than other types of businesses. However, the structure comes with certain drawbacks, such as the fact that shareholders must pay income tax upon the distribution of funds to them. In addition, it creates tension for the business to distribute cash more often in order to affect the formation of capital. This means it might not be the ideal choice for businesses that need an investment of a significant amount.

670824 faculty contact information instructor name: Strauss * we aren't endorsed by this school. She obtained her bachelor of arts, with honors, in economics from the university of florida.

Business Law And Ethics Term And Session:

These sources can be accessed online at www.broward.edu. 670824 faculty contact information instructor name: Brazilian soccer legend ronaldo nazario helps the college launch a business hub for tenants leasings offices or desks.

Public Corporations Are Led By Ceos And Other Upper.

Moral duty, rights and justice (1) 3 pages. Complete your associate in arts (aa) degree in business with no interruption to your work schedule. Daniels worked at a prominent boutique law firm, where she.

She Obtained Her Bachelor Of Arts, With Honors, In Economics From The University Of Florida.

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Describe The Significance Of Legal And Ethical Issues In A Business Environment.

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Strauss * we aren't endorsed by this school. Law.com delivers news, insights and resources that allow. Business administration & management is a major offered under the business, management and marketing program of study at broward college.

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