The major advantage is the fact that a corporation is a legal entity. This means that if the corporation goes bankrupt or incurs a lot of debt the creditors can only go after the assets of the corporation, not the personal assets of its owners (i.e. the stockholders). This isn't true of a sole proprietorship or a partnership; if these go under and you own a piece of the business, your house, car, bank account, etc. are all fair game.
The major disadvantage of a corporation is taxes. Corporate tax rates tend to be much higher than for partnerships or sole proprietorships.
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Why do organizations go for Quality Awards? Discuss with the help of an example, the advantages and disadvantages for an organization considering applying to be assessed for a major quality award.
One major advantage to having an integrative strategy is the fact that the entire business will be able to support the organization when necessary. One disadvantage to having an integrative strategy is problems with coordination.
Advantages and disadvantages of friendster?
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The advantage of the democratic is that the subject are involved in the major decision making that affects their lives.
Well, for my planet (Zenus 117), petroleum is a major food source, so....
There are numerous advantages of rainfall. Rainwater is a major fresh water source, and is excellent in a survival situation. Rainwater also helps crops grow.
Projects are the tools for implementing and achieving the major goals of an organization.
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The major advantages of using standard mail is the low cost of postage and increase in postage rates along with increase in weight. On the downside, the disadvantages include slow delivery, weight restriction and flexibility in returning mail.
Advantages:You get the reputation of a major brand.You benefit from the brand's advertising and get their business.Disadvantages:Must pay franchise license fees.Despite owning the stores yourself, you have to do things the way the corporate office says. If you refuse to comply with their standards, they could take your franchise license and any signage with their name on it.