It is easy to enter leave the market
All prices are basically the same
No competition
Great degree of power
Power of pricing
Hard to enter and leave the mark
Governmental
Trade Association
Code of Ethics
Employee Training
Business is a part of society. Therefore, they cannot ignore social issues.
Businesses have the resources to tackle social issues.
Businesses can create a stable environment for long-term profitability.
It prevents increased government intervention.
The focus should be on providing a return on investments.
Business resources should be used to maximize profits, not solve social issues.
Problems affect society in general, so businesses should not be expected to solve them.
Social issues are the responsibility of government officials.
Easy to start and cancel
Pride of ownership
Flexibility
No special taxes
Retention of profits
Unlimited liability
Lack of capital
Limited management skills
Difficulty in recruiting
Easy to start
Capital is available
Combined skills and knowledge
Retention of profits
No special taxes
Unlimited liability
Management disagreement
Frozen investment
Limited liability
Easy to raise capital
Specialized management
Government regulation and increased paperwork
Difficulty and expense in formation
Double taxation
Lack of secrecy
Stockholders elect board of directors
Board of directors appoint officers
Officers hire employees.
Legal persons may be shareholders
no restrictions on number of shareholders
Large amount of capital -Separation of ownership and control
Sources of raw material
Availability of labor
Proximity of and access to the market
Availability of transport facilities
Availability and cost of power and water
Availability of capital
Attitude and regulations and tariffs of local authorities
Central government policy
Social environment
Existing business environment
Management
Operations - Production supply chain
Marketing/Sales customer service
Finance - Accounting, procurement, and HR
R&D - Development: IT
gathering and processing information to make decisions
Decision making
Communication
Negotiation