Part1 Selcting a Form of Business Ownership 1 Sole Proprietorship Characteristics of Successful Sole Proprietors Advantages of a Sole Proprietorship Disadvantages of a Sole Propietorship Decision Making:Deciding on the Sole Proprietor Form of Business 2 Partnership Advantages of a Partnership Disadvantages of a Partnership S-Corporations Limited Liability Company(LLC) Decision Making:Deiding on the Partnersbip Form of Business 3 Corporation How Stockbolders Earn a Retuirn Private versus Public Corporations Advantages of a Corporation Disadvantages of a Corporation Comparing Forms of Business Ownership How Business Ownership Can Change Decision Making:Deciding on the Corponation Form of Business 4 How Ownership Can Affect Return and Risk Impact of Ownersbip on the Return on Investment Impact of Ownersbip on Risk Cross Functional Teamwork:Sources of Risk across Business Functions Decision Making:Deciding Whether to Add Partners to Reduce Risk 5 Obtaining Ownership of an Existing Business Assuming Ownership of a Family Business Purchasing an Existing Business Franchising Self-Scoring Exercise:Do You Have the Skills Necessary to Succeed in Business？ …… Part2 Entrepreneurship and Business Planning 6 Creating a New Business 7 Assessing Market Conditions 8 Developing a Competitive Advantage 9 Developing the Business Plan 10 Risk Management by Entrepreneurs Part3 Creating and Pricing Products 11 Background on Products 12 Identifying Target Market 13 Creating New Products 14 Product Differentiation 15 Additional Pricing Decisions Answers to In-Text Study Guide Glossary
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