a) Describe the organizational structure of a C corporation.
A C corporation is the standard corporation, while S corporation, its counterpart, has a special tax status with the IRS. If a new corporation is formed, it is by default a C corporation. “A corporation or C corporation is an independent legal entity that is owned by the shareholders (reference180.com).” The independent legal entity means that a corporation is given many of the same legal rights as a person. This means that a corporation can sue or be sued and is liable for the actions that it did not the shareholders.
A corporation is more complex compared to the other organizational structure such as sole proprietorship, partnership, and limited liability company (LLC).
It is …show more content…
Corporation: The first advantage of a corporation is its limited liability. It means that shareholders are only liable to the creditors by the amount of money they have invested in the company. Shareholder’s personal assets are not at stake. Another advantage is that a corporation is a legal entity, which means it has the same legal rights as a person and the shareholders are not liable for the actions that the company made. The corporation may also be able to raise additional capital by selling the shares of the corporation. It is also easy to transfer ownership because it is represented by shares.
The disadvantage of a corporation is that it is more complex than the other organizational structures. It is a lot harder to form and heavily regulated that requires a lot of compliance to the government and a lot of administrative paper work to fill. Another disadvantage is that it 's hard to control or predict its governance. The shareholders elect the Board of Directors and the Board of Directors elect the CEO. The CEO will be the one in charge of the day to day operation of the company. There is a possibility that the CEO will act on their interests instead of the shareholders. Another advantage is that corporation are taxed double; the income of the business is taxed and the dividend of the shareholders is also …show more content…
In my management career, I would certainly apply CSR. I feel that CSR is being a common practice in the business world today. It will probably be more adapted by the time I venture into my management career. If I became a manager, my first application would be to improve employee 's work environment because my employees are my number one asset. If I have my business, I would want my employees want to go to work and not rush home by the time they are off the clock. I want to implement a relaxed dress code, abundant free food choices in the break room, distressing short program or activities, and a comfortable chair to sit on. These are all simple stuff but it actually helps a lot to avoid stress in the workplace.
I don 't want my employees to start thinking that work is something that they just have to do and that the workplace is a place for well just “work”. I want the employees to feel appreciated for their work, have time to relax, and make them enjoy their work. This is my ideal for now that I want to develop in the workplace.
The reason I thought of this is because I’ve been in a situation that my environment just make my work became
A C corporation is the standard corporation, while S corporation, its counterpart, has a special tax status with the IRS. If a new corporation is formed, it is by default a C corporation. “A corporation or C corporation is an independent legal entity that is owned by the shareholders (reference180.com).” The independent legal entity means that a corporation is given many of the same legal rights as a person. This means that a corporation can sue or be sued and is liable for the actions that it did not the shareholders.
A corporation is more complex compared to the other organizational structure such as sole proprietorship, partnership, and limited liability company (LLC).
It is …show more content…
Corporation: The first advantage of a corporation is its limited liability. It means that shareholders are only liable to the creditors by the amount of money they have invested in the company. Shareholder’s personal assets are not at stake. Another advantage is that a corporation is a legal entity, which means it has the same legal rights as a person and the shareholders are not liable for the actions that the company made. The corporation may also be able to raise additional capital by selling the shares of the corporation. It is also easy to transfer ownership because it is represented by shares.
The disadvantage of a corporation is that it is more complex than the other organizational structures. It is a lot harder to form and heavily regulated that requires a lot of compliance to the government and a lot of administrative paper work to fill. Another disadvantage is that it 's hard to control or predict its governance. The shareholders elect the Board of Directors and the Board of Directors elect the CEO. The CEO will be the one in charge of the day to day operation of the company. There is a possibility that the CEO will act on their interests instead of the shareholders. Another advantage is that corporation are taxed double; the income of the business is taxed and the dividend of the shareholders is also …show more content…
In my management career, I would certainly apply CSR. I feel that CSR is being a common practice in the business world today. It will probably be more adapted by the time I venture into my management career. If I became a manager, my first application would be to improve employee 's work environment because my employees are my number one asset. If I have my business, I would want my employees want to go to work and not rush home by the time they are off the clock. I want to implement a relaxed dress code, abundant free food choices in the break room, distressing short program or activities, and a comfortable chair to sit on. These are all simple stuff but it actually helps a lot to avoid stress in the workplace.
I don 't want my employees to start thinking that work is something that they just have to do and that the workplace is a place for well just “work”. I want the employees to feel appreciated for their work, have time to relax, and make them enjoy their work. This is my ideal for now that I want to develop in the workplace.
The reason I thought of this is because I’ve been in a situation that my environment just make my work became