ASSIGNMENT #1

 1. Discuss the advantages and disadvantages of every type of business organization.

 2. Get a news clippings about the recent unethical issue from public (government) or
private entities.

Discuss the advantages and disadvantages of every type of business

organization.

Sole Proprietorship:
- A sole proprietorship is one of the simplest forms of business organizations, where a single individual owns and
operates the business.

>Advantages<
- Simplified Taxation: Income from the business is typically reported on the owner's personal tax return. This
simplifies tax preparation and can result in lower overall tax rates, depending on the individual's tax bracket.
- Flexibility: Sole proprietorships are versatile and can easily change the business's focus, structure, or location as
needed.
-Direct Control: The owner has full control over all aspects of the business, including decision-making, operations,
and strategic direction. This allows for quick and flexible decision-making.

>Disadvantages<
-Personal Risk: If your business can't pay its bills or gets sued, your personal stuff (like your savings and house)
could be at risk.
-Limited Money: It's harder to get money to grow your business because you can't sell shares or get partners like
bigger companies can.
-Hiring Challenges: Getting and keeping good employees can be tricky because you might not offer the same
benefits or job security as bigger companies.

Partnerships:
- A partnership is when two or more people come together to run a business. They work as a team and share the
responsibilities, profits, and losses.

>Advantages<
- Shared Workload: You're not in it alone. You have partners to help with the work and decisions.
- More Ideas: With different people, you get more ideas and skills, which can be great for the business.
- Easier to Get Started: It's easier to get money because each partner can put in money or skills to start the
business.

>Disadvantages<
- Shared Profits: You have to split the profits with your partners, so you don't get it all.
- Conflict: Sometimes partners disagree, which can lead to conflicts and problems in the business.
- Personal Liability: Like in a sole proprietorship, partners can be personally responsible for business debts and
liabilities.
Get a news clippings about the recent unethical issue from public (government)
or private entities.
https://www.philstar.com/headlines/2023/09/03/2293562/quezon-city-cops-face-raps-failure-protect-
biker-gun-toting-incident