Raji and Kareem had been friends for a long time. They shared a mutual interest in computer technology. Raji had helped with software design and computer work for his neighbours and family. It wasn’t long before he recognized that there was a demand for small businesses to have affordable computer specialists. He decided to start a business. Raji discussed his plan with Kareem and asked him if he would like to investmoney and be active in the business along with him. Kareem agreed with Raji and started the business. Both were equally responsible for the businesses’ risks and rewards. In the initial stages, the business had a goodnumber of customers. But slowly they started to lose their customers because of competition. Raji decided to expand the business in other places to be successful again. Kareem realized that they wouldneed a lot of capital to get the business to grow. Kareem suggested to raise the money by selling shares to people. Raji was still in doubt about the new business. But Kareem made him understand that this is the bestoption available to expand the business. However, he also mentioned that they might have to face some challenges too.Questions:1. What form of business did Kareem and Raji start in the beginning? Is it the right choice? Justify.2. Examine the key stakeholders of the second form of business. 3. Discuss the main responsibilities of both forms of business towards the customers.
Raji and Kareem had been friends for a long time. They shared a mutual interest in computer technology. Raji had helped with software design and computer work for his neighbours and family. It wasn’t long before he recognized that there was a demand for small businesses to have affordable computer specialists. He decided to start a business. Raji discussed his plan with Kareem and asked him if he would like to invest
money and be active in the business along with him. Kareem agreed with Raji and started the business. Both were equally responsible for the businesses’ risks and rewards. In the initial stages, the business had a good
number of customers. But slowly they started to lose their customers because of competition. Raji decided to expand the business in other places to be successful again. Kareem realized that they would
need a lot of capital to get the business to grow. Kareem suggested to raise the money by selling shares to people. Raji was still in doubt about the new business. But Kareem made him understand that this is the best
option available to expand the business. However, he also mentioned that they might have to face some challenges too.
Questions:
1. What form of business did Kareem and Raji start in the beginning? Is it the right choice? Justify.
2. Examine the key stakeholders of the second form of business.
3. Discuss the main responsibilities of both forms of business towards the customers.
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