My Concept On The Business

The first thing I will discuss is cost. Cost is always an important issue that must be addressed for a business. A product that does not have an equal or gain return when compared to its cost would be considered a poor

Nowadays, fire extinguishers would be found in any kind of factory, especially in a garment factory. However none where to be found in the Triangle Shirtwaist Factory, “An order had gone out to install automatic sprinklers in factories, but the manufacturers had organized to fight it because I meant so great an expenditure.” (Argersinger, 105). Employers were looking for ways to make as much savings as possible to maximize their profits instead of ensuring a minimum level of security for their workers.

Consumer Products Safety Commission (2001) Fireworks Business Guidance Retrieved on August 24, 2014 from https://www.cpsc.gov/en/Business--Manufacturing/Business-Education/Business-Guidance/Fireworks/

Change occurs all the time in organizations, it is the one thing that is always consistent. In order for an organization to stay relevant they must re-invent themselves in order to continue to satisfy their customers’ needs. My goal in this paper is to share about an organization called Acme Fireworks and to determine if the laws that these businesses will be governed by, analyze the contracts, apply the five essentials elements of an enforceable contract, explain the potential liability if a spectator is injured, discuss the different employment types relevant to this company, and explain why they should not operate as a sole proprietorship.

Around thirty labor laws were enforced in reaction to the Triangle Shirtwaist Fire. A major law was enacted where employees should not have to risk their lives or health in the work place. Other laws included that all high risk building had to have automatic sprinkler systems installed and that all exits had to be unlocked and swing to the outside. It is pivotal that safety measures are taken serious and enforced in a workplace. Deadly fires are bound to happen when the owners of a company neglect the safety of their workers and that is what caused this

Acme Fireworks sells fireworks in all their myriad forms. Single-use, aerial display, ground display; if there 's a need, Acme Fireworks supplies it. Starting out as a garage endeavor, Acme Fireworks is a sole proprietorship that is looking to change its entity status due to a recent influx of bigger business contract requests that would mean a larger employee base, more liability risk, and higher demand of a dangerous product (prompting evaluation of insurance protocols and coverage). This act of expansion would lead to the company adhering to the Uniform Commercial Code (UCC), as “an order or other offer to buy goods for prompt or current shipment shall be construed as inviting acceptance either by a prompt promise to ship

* The first two assignments (Stages I and II of the project) are worth 100 points each.

Various liabilities can arise while manufacturing and selling fireworks. Potential personal liabilities can also arise if a customer is injured while using the fireworks and can often be devastating to the owner of a business, especially if the owner is not protected by an appropriate business structure/entity (Rogers, 2012). Hence, in order to expand the business, one of the best precautions would be to change the business from a sole proprietorship to a Limited Liability Company (LLC) (Miller, 2015). Moreover, while transitioning into a larger business, the company would have to hire additional employees or independent contractors so as to keep up with an increase in demand for the products, which leads to the necessity of having a valid contract in place to ensure that every transaction and business dealing is carried out legally (Miller, 2015). Hence, the purpose of this paper will be to provide advice to Acme Fireworks’ owner as the manager on different issues ranging from common law and UCC requirements of business contracts, the essential elements of a contract, personal potential liability in case of injury, the different types of employment and the most appropriate business structure for the company.

Fireworks are one of those things that everyone loves to see every chance they can get. Acme Fireworks wants to start showing fireworks on the regular basis, but it will cost more to hire more people for the labor, insurance, and the service of setting off the fireworks. I will determine if the contract with the businesses will be governed by common law or the Uniform Commercial Code and explain why, analyze whether the owner formed the contract with the business and apply the five essential elements of an enforceable contract. I will explain the potential personal liability to Acme Fireworks if a spectator is injured by a stray firework from a fireworks display, discuss the difference employment types and relationships relevant to agency law and analyze the advantages and disadvantages of each type specific to Acme Fireworks. I will also explain why Acme Fireworks should not operate as a sole proprietorship and I will recommend a new business entity and provide rationale to support my recommendation.

There are (3) reasons why I have chosen energy drinks as my NAB. First off, there is a growing market for energy drinks. Red Bull and Monster Beverage Corporation, together, form over 80% of domestic energy drinks volumes by estimates. Dollar sales for energy drinks grew almost 6% to $6.67 Billion in measured channels in 2013, which propelled sales growth for convenience stores (Team, 2014). A growing thirst for caffeinated “energy” drinks, which include the likes of Red Bull, Monster, and Rock star, has spurred a heart-thumping surge in sales. Globally, the energy drink industry has gone from a $3.8-billion business in 1999, to a $27.5-billion

Acme Fireworks is a reputable fire work company that falls under the form of retailer. In order to gain consumers and sell their products they must put out ground display’s of their fireworks as well as a variety of aerial fireworks, especially their larger products. This company started out as a small family owned business in the back of a man’s garage and as he grew and drew in more consumers he is now a managing fifteen employees that help him operate his business. The company has been a sole proprietorship and the owner has never changed his entity, meaning no partnerships or shareholders. The owner has received numerous inquiries from surrounding businesses if his company would be able to create more personalized fireworks for them on a more regular basis.

The development of start-ups is an important business activity that requires effort, time, and financial resources. It is important to correctly establish the resources that are required by opening a business in order to be able to successfully reach the objectives established for businesses in each situation. In this case, the business plan refers to developing a restaurant that focuses on providing meals that are based on organic foods.

stage in the life of the business. So it is very important to work out

Michael Lewis (2000: pages 256-257) scoffed at the whole attempt to formalize the definition of business models when he wrote that “ “Business Model” is one of those terms of art that were central to the Internet boom: it glorifies all manner of half baked plans. All it really meant was how you planned to make money.”

Business is loosely defined as buying and selling. However business is both an economic and social activity which is done to acquire wealth and serve the society through the provision of goods and services which the society needs.