What Are The Principles Behind The Micro Strategy Approach To Proof Of Concept Wk8
1317 Words6 Pages
Running head: BUSINESS DESIGN; PROOF OF CONCEPT & LEGAL FORMATION
Principles behind the Micro-Strategy
Metropolitan College of New York
BUSINESS DESIGN; PROOF OF CONCEPT & LEGAL FORMATION
Micro Strategy for Proof of Concept comprises three principal components that must be in place to test any given concept. The entrepreneur must provide the goals that they are attempting to achieve which will indicate their outcomes. Take into account all assets that go into the venture like the financial needs as well as the physical, human and social needs which all factor in the outcome of the business. A proof of concept is a shared idea in the business industry, new start-ups or entrepreneurs validate if a…show more content… There are advantages and disadvantages to each organizational form and the entrepreneur must calculate the costs and benefits of these advantages and disadvantages. (Matthews and Scot, 1995)
PRINCIPLES BEHIND THE MICRO-STRATEGY
What key factors determine the strategic plan for the legal organization of the business?
The proprietorship is the simplest legal form of organization LFO—one that has no separate legal existence from its owner. Proprietorship is simply a person operating a business under her own name or a trade name. There are no legal requirements to operate a proprietorship. The owner is personally responsible for all legal responsibilities of the business and their personal capital is at risk.
Partnership- the partnership established as a legal business entity a group of two or more persons goes in into a legal contract by which the partners agree to operate a business and share the profits from that business. There are limitations on the life span of a partnership; it ends with
The death of the last original partner. On the other hand, ownership of a partnership will be allocated into shares to be bought or sold. Corporation - A corporation is separate legal entities from its owner and. recognized as “legal person” that will enter into contracts and has all the legal rights of a “natural person.” all owners of a corporation enjoy limited liability. In