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New Business Venture Assignment Help

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Name for the Business

The name of the business will be "Solar Energy PLC."

Mission Statement

• Mission Statement: We at Solar Energy PLC are passionate to contribute to world that do not rely on fossil fuels energy. Our goal will be to speed up the implementation of solar technology globally for the conservation of our environment and deliver sustainable and innovative services to our clients.

Three Most Appropriate Legal Forms of Business for the Venture Three Most Appropriate Legal Forms of Business for the Venture

• Sole Proprietorship

• Partnership

• Corporation

Advantages and Disadvantages of these Three Forms

• Sole Proprietorship

• Partnership

• Corporation

Evaluation of Six Factors

• Creation and Maintenance

• Continuity          

• Ownership and Control

• Personal Liability

• Compensation

• Division of Profits Taxation

Best Legal Form of Business for the New Company with Full Explanation

• The general partnership is the best form of business for the new company

Diagram of Organization Chart

1.11.png

Structural Decisions Of Organization Chart

• The employees will be grouped according to their roles they will perform in the company in the business structure.

Reporting Structure of the Business

• The potential partners and the employees will all report to the CEO.

Outsourcing the Human Resources Function

• Background Screening

• Temporary Staffing

• Staff Assistance and Counseling

• Payroll Services

• Performance Management

• Health Care Benefits

• Retirement Planning

Pros and Cons of HR Outsourcing

• Pros

• Cons

Business Structure

• The new company will have a functional business structure.

2.22.png

Contribution of Chosen Structure in Business’s Long-Term Aims

• The functional business structure will help the new company to run its business with the long-term aims of going locally and nationally in few years and then expand internationally and earn profits.

Conclusion

• Name for the Business and Mission Statement 

• Reasons for Choosing the Business Name and Mission Statement 

• Drafting Of the Mission Statement 

• Three Most Appropriate Legal Forms of Business for the Venture

• Advantages and Disadvantages of these Three Forms 

• Evaluation of Six Factors

• Best Legal Form of Business for the New Company 

• Diagram of Organization Chart 

• Structural Decisions of Organization Chart

• Reporting Structure of the Business 

• Outsourcing of the Human Resources Function and its Pros and Cons 

• Business Structure

• Contribution of Chosen Structure in Business’s Long-Term Aims of Going National and International

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