Entrepreneur Essay

1823 words - 8 pages

Entrepreneurship

Strayer University
ACC 557

Lakeiasha Brown
11/18/2013

Professor Glenfeild

Introduction
In, this paper I will describe the type of business I am creating . Prepare a pro forma balance sheet and income statement, considering the value of assets and based on the internal control recommendations that I have made, I will implement each within my business environment, indicating how challenges or resistances will be overcome. Finally, I will evaluate the impact of the regulatory environment.

Business Type
The name of my business is J & L SOUL FOOD. My grand mom is an great ...view middle of the document...

The employees at J & L will also be able to make sure that, my company avoids any kind of penalty or trouble which could arise from it at any point of time in the future (Bevans, 2006).Another activity for J & L is the human resource management activity. For the organization, it is very important to provide an appropriate level of training to the employees.
1st J & K will do a selection of the employees. If an organization will fail to select the employees in a proper manner, it shall be difficult for them to make sure that, it gives effect to its activities in a proper manner. The human resource management department of the organization plays a very important role regarding the selection of the employees, giving them training and ensuring that, they meet the organizational standards and accomplish the goals of the employees.
It is also likely that, the employees at J & L could end up leaving the restaurant due to some reason. Therefore, it is also important for my restaurant to make sure that, it reduces the employee turnover. The employee turnover within the workplace will be reduced by way of appropriate level of relationship between the employees and & L. The employees working in the human resource J & L is improved so that, better level of results are available to the restaurant in the future.
The marketing activities of the restaurant are very important for its growth and prosperity. J&L has to make sure that, it performs its marketing related activities in such a manner that, it achieves the success to the highest possible level. In addition to this, it is also important for J & L to ensure that, its sales and the profitability keeps on increasing.
For this purpose, J & L needs good quality marketing managers available with it. The restaurant will have the ability to attract the customers and to retain them with the help of high level marketing practices available with them. In this way, it can be said that, the marketing department of J & L will definitely be of high need of proper investment.
Form of Business
There are various kinds of business forms which could have been selected by J & L in the present situation. The form of business taken into account for the present paper is partnership form of business. In this situation, there are two individuals who are involved in the business activities, therefore, it will be most appropriate for the restaurant to have the partnership form of business in the present situation. There are various advantages of making use of this form of business for the restaurant presently.
The first advantage of partnership form of business structure is that, this form of business structure will be that, this form of business structure is established in a very quick period of time. There are not a lot of legal compliances required to be performed in this form of business structure. The partnership form of business is also able to have an appropriate level of capital available with it. The capital in...

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