Author Question: Describe mission, vision, and culture. What will be an ideal ... (Read 13 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?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

For a complete list of videos, visit our video library