Research Paper Essay Example | Topics and Well Written Essays - 2750 words - 1

Research Paper - Essay Example Exchange of a commodity between individuals with the aim of deriving mutual benefits or with profit motif is one of the available definitions for the term business. The definition however extends to multiple transactions and disqualifies isolated transactions, such as a single exchange in a person’s life, as business. A single exchange transaction or just a few number of exchange transactions like three times in a person’s lifetime, for instance, does not identify the individual as a businessperson and therefore fails to offer an accurate definition of business. A more accurate definition of business is therefore an activity whose primary objective is wealth creation through exchange of goods and services. This definition separates such transactions as sale of personal property as a disposal strategy because of lack of profit motive. Some examples of activities have also been identified with the definition of business. According to Maheshwari (1997), all activities in t he field of commerce and industrial based activities meets the definition of business and this includes activities in â€Å"basic industries, processing and manufacturing industries and the network of ancillary services, distribution, banking, insurance, transport,† among other sectors (Maheshwari, 1997, 1). ... Its formation is simple, requiring no formalities, and it requires small amount of capital to start because its scope can be narrow. The proprietor also enjoys all the derived profit from the business and has the sole decision making right, a property that allows for faster decisions because there is no consultation obligations. Sole proprietorships however faces a number of challenges such as difficulty to raise sufficient capital for ventures, limited sources of capital because of lack of collaterals, and lack of specialization that limits quality of goods or services from a sole proprietorship business (Kelly and McGowen, 2010; Gitman and McDaniel 2008). Lack of expertise in management and service delivery possibility of the proprietor overworking himself are other limitations of the form of business. The business’ life is also limited to the life of the owner (Schneeman, 2012; Miller, n.d.). Partnership is another form of organization for business activities and defines a group of individuals, normally between two and twenty people, with a common objective of making profit. The form of business has advantages such as a wider capital base from members’ contribution, possibility of rich skills and experience from members that can be organized into specialization, rich sources of ideas for decision-making. Members also share losses and this facilitates continuity because of reduced impacts (Pride, Hunges and Kapoor, 2010; Kimmel, Weygandt and Kieso, 2010). Disadvantages however include sharing of profits, lengthy decision-making processes that may also experience disagreements and unlimited liability of business partners (Sutherland and Canwell, 2008). Cooperatives have such advantages as low operation

Human resources - Feedback Research Paper Example | Topics and Well Written Essays - 1000 words

Human resources - Feedback - Research Paper Example However, the team members may not all be saints, but it is noteworthy that every team member feels respected in order to establish a conducive work environment for all (Deforest, Largent, & Steinberg, 2005). In this regard, the objective of this report will be to facilitate positive feedback from Drew without creating any negative feelings and ensuring that he sees the effects of his behavior to the other team members. This will be through investigation in to the matter as a payroll manager without victimizing any employee before arriving at any concrete decision. Further, the report will provide a basis for creating articulated feedback in which communication of the managerial expectations shall be appropriate. The information gathering process Ideally, obtaining of feedback is a delicate process in which one’s intentions may become ill intentioned to those who may not understand the purpose. In this regard, the information gathering becomes the tricky aspect in the complete feedback process. Essentially, it will be appropriate to start with the employees before engaging Drew in the process. For instance, calling the team members during separate times of the working day will be effective in acquiring the information required. This should be in utter discretion and information by the team members within the department should be discrete in order to avoid victimization and animosity. In essence, Drew might develop a disliking attitude if they become aware that a certain employee portrayed him in poor taste. According to Deforest, Largent and Steinberg (2005), communicating with Drew will be the last step in the process in that consideration, assertiveness, and behavior control are some of the traits that need to emerge during the communication process with Drew. As a build up, clarity in the purpose of the meeting is a key aspect in which Drew needs to be well aware of in that he should understand that the meeting is not an attack on him. The purpose of t he meeting becomes to try changing his behavior to create a friendly work environment. Applying the feedback principles and the legal implications involved An appropriate venue where the conversation will take place is also a factor that needs considering. For instance, the meeting should be within the confines of the company in order to portray the problem as a serious work related issue. The information gathering starts immediately after complain arrives to the attention of the manager. The conversation should ensure that it maintains eye contact with a firm tonal voice (Deforest, Largent, & Steinberg, 2005). Empathy or sympathy should not reflect at any time, as this will be a sign that the issue is not as heavy as it should be. In addition, the posture during the communication should be upright to ensure that Drew does not look aware because of drifting from the conversation. The shoulder level should be of the same level to influence concentration and immediate response. During the meeting, active listening and not being judgmental when it is Drew’s turn to speak will be essential in the facilitation of an appropriate response to the changing of the behavior. Absence of attention during the conversation will prevent Drew from sharing the reasons why he behaves that way; hence, it will be impossible to help him change his behavior. In addition, avoiding of assumption of intent during the feedback process is vital, and facts should