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Wanda is concerned that if she grows the business, she may take on more financial and personal responsibility than she is comfortable with. Your Task 1. Prepare a chart showing the forms of business ownership Wanda could adopt for Salty Pawz as she expands. For each type of ownership, you need to provide the advantages and disadvantages of each option as they relate to Wanda's businesses. 2. After having explored the advantages and disadvantages of each form of ownership, which form would you recommend for Wanda and Salty Pawz, and why? 3. Lastly, if Wanda decides she wants the two friends she works with to become more formally involved in ownership of the business, does that change the advice you gave her in part (b) above. If so, how? If it does not affect your advice to her, then why not?

Wanda is concerned that if she grows the business, she may take on more financial and personal responsibility than she is comfortable with. Your Task 1. Prepare a chart showing the forms of business ownership Wanda could adopt for Salty Pawz as she expands. For each type of ownership, you need to provide the advantages and disadvantages of each option as they relate to Wanda's businesses. 2. After having explored the advantages and disadvantages of each form of ownership, which form would you recommend for Wanda and Salty Pawz, and why? 3. Lastly, if Wanda decides she wants the two friends she works with to become more formally involved in ownership of the business, does that change the advice you gave her in part (b) above. If so, how? If it does not affect your advice to her, then why not?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Scenario Wanda is concerned that if she grows the business, she may take on more financial and personal responsibility than she is comfortable with. Your Task 1. Prepare a chart showing the forms of business ownership Wanda could adopt for Salty Pawz as she expands. For each type of ownership, you need to provide the advantages and disadvantages of each option as they relate to Wanda's businesses. 2. After having explored the advantages and disadvantages of each form of ownership, which form would you recommend for Wanda and Salty Pawz, and why? 3. Lastly, if Wanda decides she wants the two friends she works with to become more formally involved in ownership of the business, does that change the advice you gave her in part (b) above. If so, how? If it does not affect your advice to her, then why not?
Transcribed Image Text:Scenario Wanda is concerned that if she grows the business, she may take on more financial and personal responsibility than she is comfortable with. Your Task 1. Prepare a chart showing the forms of business ownership Wanda could adopt for Salty Pawz as she expands. For each type of ownership, you need to provide the advantages and disadvantages of each option as they relate to Wanda's businesses. 2. After having explored the advantages and disadvantages of each form of ownership, which form would you recommend for Wanda and Salty Pawz, and why? 3. Lastly, if Wanda decides she wants the two friends she works with to become more formally involved in ownership of the business, does that change the advice you gave her in part (b) above. If so, how? If it does not affect your advice to her, then why not?
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