{"id":3384,"date":"2023-02-22T21:28:31","date_gmt":"2023-02-22T21:28:31","guid":{"rendered":"https:\/\/course.oeru.org\/ient102\/?page_id=3384"},"modified":"2023-02-22T21:28:31","modified_gmt":"2023-02-22T21:28:31","slug":"tasks-business-legalities-learning-challenge","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/ient102\/learning-pathways\/legal-forms-of-business\/tasks-business-legalities-learning-challenge\/","title":{"rendered":"Tasks &#8211; Business legalities learning challenge"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<p>Bearing in mind what you have learnt in this learning pathway, consider the following scenarios for a spa and salon called &#8216;Beautiful Dreamer&#8217;, and answer the questions below. (Use the rules that apply in your own country when you do this challenge.)\n<\/p>\n<p><b>Scenario 1 &#8211; Image<\/b>: You want to start a pet spa so that pet owners can bring their pets to the spa, but nobody else in the business thinks it will work.\n<\/p>\n<ul>\n<li> Would investors be more inclined to invest in this type of expansion of the business if your were a sole proprietor, a partnership, or a corporation? Give your rationale.\n<\/li>\n<\/ul>\n<p><b>Scenario 2 &#8211; Risk<\/b>: Someone sues you for $1 million because your product turned their skin green. The business is worth $500,000.\n<\/p>\n<ul>\n<li> What will the financial impact be on you personally as (1) a sole proprietor, (2) a partner in a two-person partnership, or (3) managing director of a corporation in which you are a shareholder?\n<\/li>\n<\/ul>\n<p><b>Scenario 3 &#8211; Need for equity financing<\/b>: You want to expand your business by acquiring another spa. The other spa will cost $2 million.\n<\/p>\n<ul>\n<li> Which type of business is most likely to be able to raise the necessary funds? Why?\n<\/li>\n<\/ul>\n<p><b>Scenario 4 &#8211; Control<\/b>: A large corporate entity is looking for an innovative spa concept.\n<\/p>\n<ul>\n<li> For each business type &#8211; What happens if you want to be taken over? What happens if you don\u2019t want to be taken over?\n<\/li>\n<\/ul>\n<p><b>Scenario 5 &#8211; Transferability and marketability<\/b>: You want to retire.\n<\/p>\n<ul>\n<li> How is transferability and marketability affected for the three different business types?\n<\/li>\n<\/ul>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.003 seconds\nReal time usage: 0.003 seconds\nPreprocessor visited node count: 1\/1000000\nPreprocessor generated node count: 4\/1000000\nPost\u2010expand include size: 0\/2097152 bytes\nTemplate argument size: 0\/2097152 bytes\nHighest expansion depth: 1\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:181913-0!*!*!*!*!*!* and timestamp 20230222212830 and revision id 1058687\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/ient102\/learning-pathways\/legal-forms-of-business\/start-business-legalities-learning-challenge\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/ient102\/learning-pathways\/legal-forms-of-business\/outputs-business-legalities-learning-challenge\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_entrepreneurship\/IENT102\/Legalities\/Tasks\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"7f6d9b8858a8f683316ce869c6892f09\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_entrepreneurship\/IENT102\/Legalities\/Tasks\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"7f6d9b8858a8f683316ce869c6892f09\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>Bearing in mind what you have learnt in this learning pathway, consider the following scenarios for a spa and salon called &#8216;Beautiful Dreamer&#8217;, and answer the questions below. (Use the rules that apply in your own country when you do this challenge.) Scenario 1 &#8211; Image: You want to start a pet spa so that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3366,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3384","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/pages\/3384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/comments?post=3384"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/pages\/3384\/revisions"}],"predecessor-version":[{"id":3385,"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/pages\/3384\/revisions\/3385"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/pages\/3366"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/ient102\/wp-json\/wp\/v2\/media?parent=3384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}