Author Question: Describe mission, vision, and culture. What will be an ideal ... (Read 63 times)

Anajune7

  • Hero Member
  • *****
  • Posts: 574
Describe mission, vision, and culture.
 
  What will be an ideal response?

Question 2

What are the tax issues for the various legal structures your business can have?
 
  What will be an ideal response?


peter

  • Sr. Member
  • ****
  • Posts: 330
Answer to Question 1

Mission is a concise communication of strategy, including the business definition and competitive advantage. The vision is a broader and more comprehensive perspective on an organization than its mission; it is built on the core values and belief systems of the organization. Culture indicates the beliefs, values, and behavioral norms of an organization.

Answer to Question 2

Each legal structure has tax advantages and disadvantages. For example, all profit earned by a sole proprietorship belongs to the owner and affects his or her tax liability. The business does not pay taxes on profits separately. In contrast, a C corporation's profits are taxed and the owners must also pay taxes on the distribution of profits that they receive.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

For a complete list of videos, visit our video library