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Why is the experience and professional background of managers so important to the operation of a business?

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The professional background of the management is vital to the success of any business.Experienced managers can draw from life experiences as well as their education in making informed decisions about the future of their business.Experienced and seasoned managers know how to: plan for success; foresee possible obstacles; make adjustments as necessar y and keep their team motivated.Inexperienced managers might be reactive to situations instead of pro-active to the same situa- tion, which could lead to mistrust in their ability to manage and lead.

List some of the differences between sole proprietorship, partner- ship, LLC, C corporation, and S corporation.

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See the Key Terms definitions in the following section.

Discuss how a new business owner can do some basic market research.

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Basic market research can be done on the...

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Which business structure is best for a restaurant?

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There is no clear definitive answer to t...

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Who is the audience for a business plan?

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The business plan has two audiences:
a.I...

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What does one have to do to become a corporation in the state where it will conduct business?

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Normal procedure would be to fill out the appropriate paperwork with the secretar y of state where you wish to conduct business.

What is the purpose of a business plan?

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A business plan is developed as a writte...

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Who are the two major audiences for a business plan?

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Investors-Investors want to be convince...

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There are several business structures that can be formed.Describe each of the following:

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a.sole proprietorship
b.partnership
c.c...

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