Partnerships :: Business and Management Studies

Partnerships Deed of partnership A written document that sets out the business relationship between members of a partnership. Limited Partner A member of a partnership who has unlimited liability. Such partners invest money and have a share of the profit, but play no part in running the firm. Partnership Where two or more people own a business together with a view to making a profit. Sleeping partner A member of a partnership who invests money in the firm but plays no part in its running. What is a partnership? A partnership exists when two or more people own a business together with a view to making a profit. Most partners have unlimited liability, therefore if the business fails they can lose all their personal wealth. A maximum of 20 partners is allowed in general partnership. Each partner is a part owner in the business and has the right to take part in running it. Sleeping partners of limited partners may invest in the business but take no part in its running. Why form a partnership? To finance expansion of a sole trader’s business. A sole trader’s own resources will be limited. To obtain capital for a business To get someone to share the work and responsibility of running a business To add new skills to the business. Deed of Partnership This is a very important document and is the contract that sets out the terms of the relationship between the partners. Benefits of working as partners More start up capital Shared costs Shared decision making Wider range of skills More ideas. Drawbacks of working as partners Unlimited liability Have to share profits Limited capital One partners actions can ruin the business No continuity / stability Hard to get money back Activities 1. Unlimited liability is more of a risk to partners than it is to sole traders because if the business fails, the partners could lose all of their personal wealth, not just the money invested in the business, even if the problem was not to do with them. If someone was owed money by the business, the partnership can be sued or just one partner could be sued. If that partners had to pay the debt, he or she would have to get the other partner to pay their share of the money owed. 2. The reason that there is a legal limit on the number of partners in a partnership is because if there are to many partners it gets out of hand, and it becomes hard to keep track. 3. See separate sheet 4. We don’t believe this statement to be very true at all because, we

Carnival Cruise Lines Case

Carnival Cruise Lines case Questions 1. What global forces have contributed to the growth of the cruise industry? Two major factors that have contributed to the growth of the cruise industry are the change in the competitive environment brought about by the advent of transoceanic airline service and increasing discretionary incomes. As demand for liner travel declined in response to the development of less expensive and much faster air service, shipping lines were forced to respond to the new market conditions by developing sea travel for the middle class, i. . , cruises. In addition, all-inclusive prices, a wide range of on-board and on-shore offerings, and the additional safety and security measures provided by the cruise industry have proven very attractive in light of recent political and socio-economic events. 2. What specific steps have Carnival Cruise Lines taken to benefit from global societal changes? Carnival has responded to global environmental changes in a variety of way s. Because a ship is highly vulnerable to terrorist acts, Carnival has instituted very strict security measures.It has also implemented strict health and safety measures. Carnival has dealt with economic recessions by offering shorter cruises that embark closer to home and with times of economic prosperity by offering longer cruises that incorporate more exotic destinations. It minimizes staffing costs by sourcing employees on a global basis. In addition, across its various lines, Carnival offers a wide variety of themes, classes of service, and destinations. 3. What are some of the differences by country that affect the operations of cruise lines?Political/legal, geographic, economic, and sociocultural differences all affect the operations of cruise lines, which are truly international in nature. For example, most shipping lines choose to flag their vessels in countries such as Liberia, Mongolia, or Panama because of the lower taxes and less stringent employment practices required by the laws of those countries. Relatively few countries (Finland, France, Germany, Italy, Japan, and South Korea, for example) have shipyards capable of building cruise ships.Consequently, governments (e. g. , Italy) may choose to subsidize the ship-building industry in order to secure contracts for their domestic firms. The favorable location of the Caribbean/Bahamas and the Hawaiian Islands makes them busy destinations year round, while Alaska is strictly a seasonal favorite. Because of their professional skills and fluency in English, Philippine workers comprise nearly a third of the seamen worldwide. Yet many other crew members also come from Eastern Europe, Vietnam, and China.Finally, in addition to the fact that many ships are designed to accommodate the economic realities of the mass market, others are specifically designed to appeal to the cultural preferences of their clientele (e. g. , Costa, based in Italy, offers a distinctive Italian flavor). 4. Although most cruise li ne passengers are from the United States, the average number of vacation days taken by U. S. residents is lower than in most other high-income countries. For instance, the number is 13 days per year in the United States as compared to 42 days in Italy, 37 in France, 35 in Germany, and 25 in Japan.How might the cruise lines increase sales to people outside the United States? Given that the majority of people in the targeted income segment ($20,000-$60,000 per year) have yet to take a cruise, the major task confronting the cruise line industry is one of marketing. In addition to promoting the many appealing features of its various cruises and lines throughout the developed world and selected developing countries, Carnival could partner with foreign airlines and travel agents in order to get foreign vacationers to its many ports of embarkation. . What threats exist for the future performance of the cruise line industry and specifically Carnival Cruise Lines? If you were in charge of Ca rnival Cruise Lines, how would you (a) try to prevent these threats from becoming a reality, and (b) deal with them if they do become a reality? While the potential market for Carnival seems very attractive, port capacity could well become an issue. The deep water and the massive facilities required to dock a liner in any port are limited.In addition, there are passionate cries from environmentalists regarding the damage (pollution of the seas, disorientation of sea mammals caused by the noise of the propellers, etc. ) being caused by liners both in port and at sea. Should there be a major global economic disaster or a global health pandemic, the cruise line industry will surely suffer. To proactively deal with the possibility of a downturn, Carnival should invest heavily in research and development in order to continually minimize the environmental impact of its ships and their operation. It must also carefully develop its global cruise structure n a way that complements existing c apacity—or else work with ports to provide additional capacity. If Carnival finds that it must react to a downturn, it should always think in terms of all of its stakeholders, not just its stockholders. Of course, it will want to minimize any damage to its operations and profits. However, given the immense size of the firm, it may also be possible for Carnival to reach out to others (such as providing liners to be used as housing for workers, as in the case of Hurricane Katrina). Carnival will be better served by a long-term rather than a short-term orientation. 6.Discuss the ethics of cruise lines regarding the avoidance of almost all taxes while simultaneously buying ships built with governmental subsidies. This is definitely a complex issue. While cruise lines avoid most taxes by flying flags of convenience, they argue that they must do so for competitive (cost-savings) reasons—and that other governments could choose to offer the same benefits. Their supporters also argue that the lost taxes are at least to some extent indirectly offset by port fees and passenger spending, and that the taxes realized by less developed countries are important contributions to their economies.However, others argue that the less restrictive staffing, safety, and operating requirements associated with flags of convenience are intolerable. They argue that lesser standards pose both safety and environmental hazards and that in the long-run, the costs to society are high. They feel strongly that if shipping lines receive government subsidies on the one hand, it is immoral and should be illegal for them to avoid paying taxes on the other.

Race Preference And Outgroups Avoidance - 1228 Words

Racial segregation exists because people tend to choose congregate near individuals that they share common characteristics with. On the other hand, others tend to avoid individuals that have different characteristics with them. Either way, the end result of individual choice is racial segregation. I will explain the two main concepts of residential individual choice by defining same race preference and outgroups avoidance. Then, I will provide evidence on how same race preference and outgroup avoidance contribute to segregation. When individuals choose to reside near other people of similar race that is referred to as same race preference. A simple explanation of same race preference with the Spatial Proximity Model by Thomas Schelling†¦show more content†¦This shows that the probability of a white person moving out of a black neighborhood is higher than the likelihood of a white person moving out of a white neighborhood. The data is similar with black people as well. The probability of a black person moving out of a white neighborhood is .246, which is higher than the probability of a black person moving out of a black neighborhood which is at .165 (2002). Quillian’s analysis states that â€Å"white s move to destinations that are whiter than their origin and are by far most likely to move to the whitest possible destination....African Americans are more likely to move to African American neighborhoods than to White ones† (2002). The evidence shows that there’s a higher probabi lity that people avoid other people of a different racial group. This shows that outgroup-avoidance contributes to racial segregation Another example of outgroup avoidance is a study of the student population of Philadelphia’s Metropolitan Area. The city attempted to increases integration by implementing a magnet school program by attempting to draw students in â€Å"white† parts of the city and from private schools. To get into the magnet school a student must apply in the 8th grade, the student would then go to the magnet school and not their neighborhood school. According to Saporito’s graph, when a line of best-fit was drawn and analyzed the percent of white applicants would increase as the percent of the non-whites in their neighborhoodShow MoreRelatedRacial Diversity And The School System1769 Words   |  8 Pagesintegration in schools have multiple forces that continue to be examined today by race and class. Stratification in today’s school systems are segregation in residential neighborhoods. Most attendance in public schools are determined largely by where students live. Predom inantly white suburbs and poor minority neighborhoods both are grouped by income and race. This particular grouping can create school districts to be separated by race. Segregation in urban areas of North Carolina schools could be a concernRead MoreIntercultural Communication21031 Words   |  85 Pagesdifferent cultures, beliefs and religions come together to work and communicate with each other. However, the basic skills of intercultural communication are fundamentally general communication skills that can be used universally by all cultures and races. These skills are simply tweaked in a direction that takes the cultural limitation into consideration. An example of such communication skills in the intercultural environment is to listen without judging, repeat what you understand, confirm meaningsRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesvii viii CONTENTS 2 2 The Individual Diversity in Organizations 39 Diversity 40 Demographic Characteristics of the U.S. Workforce 41 †¢ Levels of Diversity 42 †¢ Discrimination 42 Biographical Characteristics 44 Age 44 †¢ Sex 46 †¢ Race and Ethnicity 48 †¢ Disability 48 †¢ Other Biographical Characteristics: Tenure, Religion, Sexual Orientation, and Gender Identity 50 Ability 52 Intellectual Abilities 52 †¢ Physical Abilities 55 †¢ The Role of Disabilities 56 Implementing Diversity Management