Business Organization For Family Farm Operations - 2333 Words

Family Farm Operations Brittany McKenzie ACCT 511-D02 May 7, 2015 Abstract As an accountant, I will be selecting the best form of business organization for family farm operations that can offer various problems to professional attorneys. Family farms with a lot of land space are typically held as a major asset. Furthermore, there are issues that would most likely to occur when the farm is passed to family heirs, which can take a major toll on the business and estate-planning attorney. In 1988 the Internal Revenue Service (IRS) classified a limited liability company in Wyoming as a partnership for federal income tax reasons, since then all 50 states and the District of Columbia have approved statutes permitting the creation of†¦show more content†¦Alex, Bill, Carl, and Devon’s father ran the business as a sole proprietorship, but they want to form a business entity to own the farm. I am going to be their accountant to help run their business the proper way and right way as Christians should. They are trying to avoid a lot of paperwork, but t hey also want to allow their cousin Xavier to handle the day-to-day operations of the farm. Additionally, they want to know ways to minimize their taxes on the entity. They want to keep this a family business; they do not want a stranger owning any part of their business. I think this can be a great thing if their family is on one accord and want to expand the business. When you start having outsiders, they could come in a try to turn things around within the business and make a lot of unnecessary changes. With Xavier being their cousin, I think they have a plan that will make the business successful. As stated above, in this case the form of business organization used by the deceased father is a sole proprietorship. A sole proprietor is someone who owns an unincorporated business by himself or herself (Sole Proprietorship, 2015). This form of business organization is a business in which one person is in control of the management and profits. A sole proprietorship has its disadvantages and advantages. With being a sole proprietor, you have complete control of the management of the business. Everything is left in your

Business Environment And Strategic Management A Case Of Lego

Question: Describe how the value that the firm creates becomes valuable as a result of factors in the general and industry environment? Answer: 1. Introduction The report here deals with the analysis of Legos internal and external environment in order to identify the core competencies of the company and the added value that the company is providing the field of construction toys to the customers which was founded in 1932. The report further analyses the efficiency of the value chain system of Lego (Bloomberg, 2015). 2. Value of Lego The value created by the company attracts the large range of customers and increases the demand of the product. Lego has recorded a ravishing market share of 24% surpassing both Hasbro and Mattel in toy making by sticking to the core values of imagination, creativity, quality and constant renewal. According to Azadi Rahimzadeh (2012) while Mattel and Hasbro have grown by creating and acquiring a diverse array of toys, Lego has adopted the opposite strategy of focusing on one product iconic to the brand and engaged in constant innovation of the same. The vision of Lego is to inspire and develop the builders of tomorrow. The toy making company has integrated theme parks, Lego video games and also designed scenes of popular movies like Man of Steel, Lone ranger, Ninja Turtles etc which attracts the attention of all ages of customers. The introduction of the new Friends Line in 2011 for the girls made it possible for the company to surpass Mattel (Barutu Tunca, 2012). 3. PESTEL analysis 3.1 Political The depiction of the Star wars fight sequences, The Berlin wall Collapse and some of the other comic fight sequences by Lego was opposed by the Ministry of defense (_). The depiction of armed forces to the children was politically wrong and hence the removal order was passed against Lego. 3.2 Economical The company has faced reductions in sales due to the positive economic downturn in Korea by 52%. Conklin (2012) opined that the purchasing power of the country determines the demand for a particular product. Due to reduction in the purchasing power the Customers are switching over to purchase necessary items instead if toy products. Moreover factors like seasonal buying behavior also affect the sales of Lego. The company experiences 60% of the total sales in December during Christmas. Moreover advanced economic growth in the countries like UK and USA are also hampering the economic stability of Denmark. 3.3 Social Lego conducted Brick fest in order to give recognition to fans creations. By interacting socially with the fans the company was able to ascertain the type of product they should focus on. Moreover the company focused on making educational based promotions of the toys in order to retain the target customers (Sukowski, 2013). 3.4 Technological Olivas-Lujan Bondarouk (2013) opined that with the advent of technologies like three dimensional printing, virtual platform development and video games in tablet and mobile the desires of the customers in toy market are changing and turning to technology based games. 3.5 Environmental Legos current position may be hampered due to the lack of proper waste management system. Around 1099 pieces of plastic bricks are produced each day adding to the waste plastic and also carbon emission by the technologies. Hence improper management of the same will endanger the sustainability of the company. Moreover as per the Forbes majority of the paint used on the toys contain lead which is harmful for children use. 3.6 Legal Lego in order to formulate a growth strategy has started implementing the laws set by the Toy Safety Directives 2009. The company has switched over to plastic bricks with rounded corners so that the use of the toys is safe foe children below the age of 14 years. The company also faced copyright issues in respect of the movie produced by Lego with the Warner bros. The negative movie showing the negative affect of the deal between Shell and Lego damaged the goodwill of the company (Lasserre, 2012). 4. Porters Five force analysis 4.1 Threat of new entrants The factor like high oil prices, unstable economic condition and threat of substitutes makes it difficult for the new companies to enter into the toy market. Rothaermel (2013) opined that although the products can be copied easily however the economic condition is not favorable for the entrance of the new companies. 4.2 Threat of substitutes The company is facing High threat from substitutes like traditional toys, computer games, extracurricular activities and personal hobbies (Lee Carter, 2011). Especially in cases of girls dolls and traditional toys are a better option than construction toys. 4.3 Bargaining power of buyers The customers and the retailers like Wal-Mart and ToysR plays an important role in fixing the price of the Lego toys. Hence a delay in the supply of products during Christmas induces the retailers to take Lego off the shelves (Bloomberg, 2015) . 4.4 Bargaining power of suppliers The major raw material for Lego products is plastic which is being made by oil hence the bargaining power of suppliers are very high. Hence with the fluctuations of oil prices the companys cost of production fluctuates. 4.5 Rivalry of competitors The two other rival companies namely Best Lock from Hong kong and Mega Brands from Canada offers low priced products like Lego. However high brand loyalty and positive brand image reduces the chances of the rivals. Figure 1: Porters five force model of Lego (Source: Bloomberg, 2015) 5. Core competencies Developing product leadership and brand image in targeting a niche product market within the overall toy industry Adoption of the segmentation strategy to reach out to the target market Constant renewal of the same product and focus on high quality standards, design and efficient supply chain (Bloomberg, 2015) 6. Value chain analysis 6.1 Inbound logistics: Main supplier Use of standard commodities (Olivas-Lujan Bondarouk, 2013) 3D Printing Robotic transportation Operations include production according to market demand forecast and abiding by the rules of plastic directives (Azadi Rahimzadeh, 2012). The outbound logistics deals with the transportation of the products to retailers like Wal-Mart for seasonal sales and use of DHL for the purpose of Superior delivery. 6.2 Marketing and selling Lego for the purpose of increasing sales increase the brand value, enters into strategic partnerships and engages in services like downloadable manuals, web community etc. 6.3 Purchasing goods Quality control of plastics Procurement of oil from companies like Shell at high market price Arranging for fairs to recognize the creation of Fans 6.4 Technology development Digitalization of brick products by collaborating with reality company Metaio Usage of 3D animation technology(Barutu Tunca, 2012) 6.5 Human resource management High rate employee benefits like scope of innovation, employee brainstorming sessions Management workshops and congenial working hours Focused on employee motivation and satisfaction Employing creative people for the posts 7. Conclusion The report thus summarizes the values like creativity, logical thinking, constant renewal and innovation that Lego offers to its target customers in order to retain its position as a niche toy maker. The influence of the external factors can hamper the position of the company however by availing to the rules and regulations Lego can avoid the same. 8. Reference list Books Lasserre, P. (2012). Global strategic management. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan. Olivas-Lujan, M., Bondarouk, T. (2013). Social media in strategic management. Bingley, UK: Emerald. Rothaermel, F. (2013). Strategic management. New York: McGraw-Hill Irwin. Journals Azadi, S., Rahimzadeh, E. (2012). Developing Marketing Strategy for Electronic Business by Using McCarthy's Four Marketing Mix Model and Porters Five Competitive Forces. Emaj, 2(2). Barutu, S., Tunca, M. (2012). The Impacts of E-SCM on the E-Tailing Industry: An Analysis from Porter's Five Force Perspectives. Procedia - Social And Behavioral Sciences, 58 Conklin, D. (2012). The global environment of business: new paradigms for international management. Strategic Direction, 28(2) Lee, K., Carter, S. (2011). Global Marketing Management. Strategic Direction, 27(1). Sukowski,  . (2013). Strategic Management as the Ideology of Power. Journal Of Intercultural Management, 5(3). Sumpio, B. (2013). Application of Porter's Five Forces Model and generic strategies for vascular surgery: should be stuck in the middle?. Vascular, 21(3), 149-156. Websites Bloomberg,. (2015). Brick by Brick: Inside Lego: Video. Retrieved 27 January 2015, from https://www.bloomberg.com/video/brick-by-brick-inside-lego-4-17-SlbmZEQnSfyC~y1eSm9FAg.html

Is It Glorious To Die For Your Country.... This Question Has Essays

Is it glorious to die for your country?.... This question has been posed to many young people about to embark on war although the answer has usually been 'yes' in response to their country due mainly to the fact that the government instills it in the people of the country to support one's country and one way is to send young abled bodied men into the army. If you were one individual that was not in favour of fighting for your country you would surely become an outcast by the countries people. To avoid ridicule and becoming outcasted by the people living around you, you would join the army just in the thought that you were obligated to for the sole sake of your country. Such thoughts were reinforced by the government promotion of propaganda. Glorifying death is not needed to be taught and should be up to the sole individual. School systems should teach an unbiased point of view of war to enable the child to make their own decision to fight for one's country. Within the education system it was instructed to the teachers to teach the children at a young age during the brink of war to instill that their the life of the country and for them to defend their country against the enemy. Teachers showed being in a army was representing honour and the pride of the country. Guilt was laid on the students who showed rebellion by the teacher. Many times the teacher would try to show a soldier that looks happy and content trying to represent being a soldier makes you happy and content. Many young inexperienced soldiers were sent to training camps near the battle fields that they would soon be sent to fight, for their country and their life. The training camps were situated on similar enviroments that resembled the battle fields of where the fighting would take place. Reinforced displine to the young and ignorant men. Trench warfare is when many soldiers of opposing countries fight against each other across a vast desolate, dirt covered land, and the only sense of cover was to crouch in a usually water logged trench. The sense of death engulfed your very soul, the constant bombardment of shells echo in your mind long after it had ceased. On the Western front conditions were horrible to say the least, stench of death remained constantly in the air, bodies riddled with bullet wounds lay across the bottoms of the trenches, dismembered bodies scattered across the landscape and the sounds of agonizing and dying men echo across the battle grounds. Very limited rations offering very little in flavour was the only food available to the soldiers. Often raining, it caused muddy, damp conditions. The men staying in a trench filled with water and muddy conditions often caused such diseases as trench foot and trench mouth. Contagious diseases were spread quickly. Lack of cleaniness gave many soldiers lice and rats would run through the trenches feeding on the garbage and human wastes. Thousands of soldiers would line up under the cover of their trenches for a stretch of miles and wait for the leading officer to give the signal for the charge. When the signal was given the thousands of soldiers would all try to run across the no-man's land to attempt the breach of the enemies trench. This charge would be under constant machine gun fire and mortar shelling by the enemy. These kind of attacks usually failed maily due to the fact the odds were already stacked against the attacking party. The distances the charging men had to run to get to the enemies trench was far enough for the enemy to use it's constant shelling and it's machine gun fire to dwindle the attacking army significant enough for the attacking army to retreat. Counter attacks were quickly attempted after the attacks. The counter attacks were similiar to the actual attacks except the difference was that the counter attack involved the killing of the retreating of the enemy instead of attacking someone under the cover of the trench. During the war all soldiers were affected either physically or phsycologically. Shell shock was an ongoing sickness affecting many soldiers in the trenches. The constant bombardment of mortar shelling became so defeaning and monotonous the sounds of shelling remained with the soldier even when there was no shelling. Such cases became so severe for some the soldier would go in fits of rage and fear at the very same instantance. Virtually all soldiers felt homesick at one time or another. The soldiers being out on the battle fronts for

Saddam is Back essays

Saddam is Back essays Saddam Hussein is back with vengeance, and his threats of world destruction aren't to be taken lightly. The United States tried unsuccessfully to target him during the Gulf War in February 1991; however, they confidently expected the Iraq leader to be gone within months. Now, eleven years later Saddam has shown a remarkable ability to survive and to rebuild his military to almost its peak potential and the US are threatening to lead air strikes over weapons inspections. Iraq is able to produce chemical and biological weapons within weeks, a long-range missile within a year and a nuclear weapon in five years. It would also be enough time to make up 350 liters of Anthrax a week, enough for two missile warheads, or enough to kill hundreds of thousands of people. The United Nations Special Commission (UNSCOM) has verified and destroyed 817 missiles, 30 warheads, 75 launchers and launch pads, 38, 537 munitions and 690 tons of chemical-weapons agents. In an extraordinary decade, the woman known as "Dr Germ" has led the production of 10 billion killer doses of toxins, including botalinum, a vicious food poisoning bug that provokes a swollen tongue, frothing at the mouth and dizziness before a victims rapid death. Dr Germ has produced 10 billion killer doses of toxins... However, they believe that a further 2 missiles, 45 warheads, 31 658 munitions and 130 tons of chemical-weapons agents still exist. Dr Rihab Taha, aged 46 is at the center of the growing Iraq crisis, and is the person who persuaded Saddam to launch his controversial germ warfare program back in the 1980's. UNSCOM has also established that Iraq has produced 8400 liters of Anthrax - which dissolves the kidneys, liver and lungs leading to death within two days - and 2000 liters of Aflatoxin, which can lead to liver cancer. The UN is hoping to avert powerful US-led air strikes against Iraq by persuading Saddam to settle for changes in the way the...

Asign 1 Information Technology Planning Process Essay

Asign 1 Information Technology Planning Process - Essay Example e details incorporated in the plan (what); the earmarked locations for implementation (where); the rationale for the planning process (why); the relevant time frames and planning period (when); and finally, the actually planning process (how). Roto-Rooter is a plumbing and drain cleaning service organization that originated in 1935 (Roto-Rooter, 2013). It was reportedly founded by Samuel Blanc and was eventually sold to Chemed Corporation in 1980. Currently, the organization was disclosed to operate in more than â€Å"100 company-owned branch and independent contractor territories and approximately 500 independent franchise operations, serving approximately 90% of the U.S. population and parts of Canada† (Roto-Rooter, 2013, par. 4). From the interview with Swanson, it was revealed that the organization has acknowledged the relevance of IT to be incorporated within their operating and telecommunications system. It was acknowledged that the IT planning process starts off with the identification and aligning with the overall goal: â€Å"to be the premier provider of repair and maintenance services. As always, we will continue to listen to customers and expand service offerings to meet and exceed their changing expectations† (Roto-Rooter, 2013, par. 3). Due to this goal, the IT planning process initiated with determining the needs of demands of the consumers. The Customer Satisfaction Manager, Pat Swanson, is the person responsible for governing and administering the planning process. The inputs to be incorporated in the plan include the financial targets, for instance in a particular year: (1) an increase of 10% in market share; (2) greater customer satisfaction as evidenced from 10% decline in customer com plaints; (3) increased locations and products; and (4) a10% increase in independent contractors and franchises through information technology and applications. According to Swanson, the earmarked locations in expanding services and operations would be in

Diplomacy And the International System Essay Example | Topics and Well Written Essays - 3750 words

Diplomacy And the International System - Essay Example On the one hand, it was implied that the global process of regionalism had to take Europe as a model and as an outcome. On the other hand, regionalism in itself came to be considered a political project, and regional integration around the world was viewed as a desirable and ‘good’ outcome to complement and support global governance.† + Luk Van Langenhove & Daniele Marchesi (2008), Lisbon Treaty and the Emergence of Third Generation Regional Integration, As the changes required by the Lisbon Treaty are currently being implemented by the EU, the essay will first discuss the new relationships of foreign policy decision making articulated in the treaty with reference to the historical context. Particularly, this method will explore the conflict of relations between a nation’s foreign policy as defined by domestic goals, the requirements of other treaty and charter-based organizations such as NATO and the UN, and the new EU foreign policy structure based on unan imity. The requirements of unanimous decisions in foreign policy will be further discussed in relation to dissent, and the way dissenting states can use their influence in EU foreign policy decision-making to influence or change policy. The essay will provide evidence from research built from historical documents and official statements of political leaders in order to review the practical application of policy in the EU foreign policy decision-making process. III. Cohesion in EU Foreign Policy after the Lisbon Treaty The first aspect to consider in reviewing the effect of the Lisbon Treaty on an integrated EU foreign policy based on consensus and unanimity is how the new accord relates to the Treaty of Maastricht, the Treaty of Nice, the Treaty of Rome, and other fundamental accords of... This essay approves that it is significant that the Treaty of Lisbon requires the unanimous decision of EU member states in undertaking foreign policy decisions and that all use of military force be equally approved by consensus. This acts as a fundamental limit to power in EU authority, and forces the building of community around core European secular values such as democracy, freedom, elections, human rights, and others that represent the best of the evolutionary thought of these nations’ collective history. The Treaty preserves the right of member nations to dissent, but the â€Å"newness† of the Lisbon Treaty makes it less certain as to date how this will influence the policy decisions and actions taken by the EU. This report makes a conclusion that the positioning of the shared values of European history as the rationale behind a progressive and safeguarding form of international government in foreign policy has a wider popular understanding and political support in the grass roots than is commonly assumed, and in this manner, the EU may actually be representative of a wider movement in history rather than a top-down, technocratic imposition. The real test of the union is found in situations where nations like Germany are forced to submit to and accept policies that go against their national state interest in favor of the larger interest of maintaining the progress of European unity, as in the recent financial crises. However, domestic political interests may prohibit the efficient use of EU military power in the future in ways unforeseen by current analysis, forcing the EU leadership into only accepting policy positions with broad consensus, a position well suited for a limited supra-nationa l government in guardianship of the civil rights of society.

Conversation Starter Essay Example for Free

Conversation Starter Essay Keeping pace with the rapidly growing health care industry has been a challenge for human resource (HR) professionals. Increasing health care costs, aging workforce primed for retirement over the next decade, and regulatory complexity will be prevalent challenges for human resources. (Minton-Eversole, 2011). Responding to the effects of health care reform, and counseling organizations on which actions to take are an unrelenting concern for management in human resources (Minton-Eversole, 2011). Health care providers are feeling the pressure as the industry moves to an accountable care model. With reimbursement contingent on patient satisfaction and safety, cost containment is more important than ever (Aberdeen Group, 2012). Providers are leaning on HR management to ensure their workforce is prepared to meet the challenges. Identifying and promoting talent within the organization, formal succession planning, and leadership programs can give organizations the advantage in an ever-changing industry (Aberdeen Group, 2012). Recruitment and retention of competent, skilled candidates that meet mandatory staffing ratios adds to the list of challenges HR professional will face (Aberdeen Group, 2012). Lacking qualified applicants to fill positions within the organization, human resources have turned to training and development to heighten the skills of current qualified workforce, while offering desirable salary and benefits packages to retain young workers (Minton-Eversole, 2011). Anticipated changes in demographics and social conditions will greatly influence the approach taken by HR professionals with the millions of individuals reaching retirement age. (Minton-Eversole, 2011). Many of these individuals in the workforce are not prepared financially for retirement; eliminating the chances for younger recruits to enter the profession (Minton-Eversole, 2011). Forecasted replacement needs will more than double the job openings  created by economic growth between 2008-2018 (Minton-Eversole, 2011). Knowing where the retirements will occur, and if there will be sufficient resources to replace them, will be the imposing challenge (Minton-Eversole, 2011). Human resource departments are engaged actively in employing and development of the strategies that will influence the health care industry. Reducing costs, improving patient care as well as safety, recruitment and retention of qualified applicants will be unfeasible for health care providers without active HR management in the organization. References Aberdeen Group. (2012). Aberdeen Group. Retrieved from http://htpp://blogs.aberdeengroup.com Minton-Eversole, T. (2011). Society For Human Resources Management. Retrieved from http://www.shrm.org