Learning Activity #1 Consider a bakery that produces goods for a regional supermarket chain. Examine the Supply Chain Operations Reference (SCOR) model and determine if it is appropriate for evaluating the bakery’s supply chain. Theme – HR and Organizational Structures Learning Activity #2 Frank’s BarBeQue is currently a sole proprietorship. Frank’s son, Robert, is trying to persuade his father to either incorporate or become an LLC. Assume that you are Robert, make a case for each legal structure and then make a recommendation to Frank. It is expected that you will go beyond the textbook in researching your response to this assignment Answers 5th answer1 lecting the form of business organization that is adopted by a business depends on many factors. However, many of the factors that go into this determination are either directly or indirectly financial in nature. The indirect factors are as follows: the extent to which a business owner wishes to attain control of the business, the relationship that the owner would have with partners or investors, and the perceived risk associated with the business. The direct financial factors that go into selecting the type of the business organization include the following: expected profits or losses, tax issues, the vulnerability and threat from lawsuits, and the ability to extract profits from the business for the owner’s use (Small Business in the 21st Century, 2014). Most people immediately think of incorporating in order to minimize their personal liability. Indeed, the liability of stockholders (owners) in a corporation is limited under certain and complex conditions. According to Bagley & Savage; “One of the most attractive features of the corporation is that the liability of its shareholders is limited to their investments. Only the corporation itself is responsible for its liabilities” (p. 760). An S corporation is ideal for any business that meets the shareholder eligibility requirements and desires strong protection against personal liability and pass-through tax treatment (whether permanently or during the period prior to venture capital funding). The most important takeaway is that an S corporation is an excellent shield against personal liability and should be the choice of entity for any business that will be seeking venture capital funding if such funding is not imminent and the founders would personally like to take advantage of anticipated losses of the corporation. An LLC is also ideal for any business that desires (i) protection against personal liability, (ii) pass-through tax treatment and (iii) flexibility with respect to distributions, allocations and management. Answer2: rank’s BarBeQue is currently a sole proprietorship. Frank’s son, Robert, is trying to persuade his father to either incorporate or become an LLC. Assume that you are Robert, make a case for each legal structure and then make a recommendation to Frank. It is expected that you will go beyond the textbook in researching your response to this assignment There are so many advantages and disadvantages to both incorporated or an LLC. The legal structure for both INC. and LLC are complex with some similarities and differences. Some of the similarities in their legal structure are: Similarities Both INC. and LLC offers limited liability in the case if any legal issue arises. This means that the owners wouldn’t be held accountable. They are both difficult and expensive to setup and maintain. They both need an Article of Incorporation filed with the state Secretary of state and the fees associated. They both require the election of a President, Vice President and Secretary. They most record associated with business decisions. Differences Incorporation (INC.) Does not pay taxes on the net business profit. Pay taxes on profits such as pay, shares, divided or bonuses. Don’t pay taxes on the corporation’s profit Sells shares Limited Labilities company (LLC) The owner pays taxes on the business profit. Complex income tax returns. Pays taxes on all net profit. Pays income tax, even if there was no profit taken out Doesn’t sell shares. There are so many advantages and disadvantages to both incorporated or an LLC. The legal structure for both INC. and LLC are complex with some similarities and differences. Some of the similarities and difference in their legal structure as listed above makes INC. the best chooses for Frank’s. The INC. allows for the separation of business and personal is not limited to one liability but also taxes. The INC. allow for responsibilities to be shared among Robert, his sister, and her husband in the running of the business. It also allows each individual to separate the business from persons. With the thought of expansion, Frank’s may want to bring in outside resources such as investors who can buy the share. The INC. legal structure allows for shares to be sold La 1 Answer 1 The Supply Chain Operations Reference (SCOR) model separates important supply chain management processes. It further matches these process components against industry-specific best practices, benchmarking performance data, and suitable software applications. The model offers a framework to the end users to understand and analyze where improvements need to be made (Small Business in the 21st Century, 2014). The SCOR model is built on the concepts of business process reengineering, benchmarking, and process measurement. By integrating these techniques into a cross-functional framework this model helps to tackle the issues at the organizational level rather than at the functional level. The main aim of the model is to focus on the activity involved and not on the worker or organizational element that performs the activity (Small Business in the 21st Century, 2014). The SCOR model will help the bakery supply chain to: To easily organize internal and external supply chain, demonstrate the existing supply chain configuration, and chart ideal supply chain process To access and communicate internally across functions and externally with suppliers and distributors through the help of process definition and common language To map available software products as per the standard supply chain processes to evaluate the product fit objectively against particular requirements, and work with the suppliers to determine the required product characteristics To measure ongoing process improvements and effortlessly reconfigure and modify the efforts as required. SCOR model was developed so that organizations could communicate, compare, and learn from competitors and organizations from both within and outside the industry. It helps to measure the performance of the supply chain, gauge the effectiveness of supply chain reengineering, and evaluate and plan future process improvements (Small Business in the 21st Century, 2014). Reference: Small Business in the 21st Century (2014). Washington, D.C.: The Saylor Foundation Answer2: Consider a bakery that produces goods for a regional supermarket chain. Examine the Supply Chain Operations Reference (SCOR) model and determine if it is appropriate for evaluating the bakery’s supply chain. According to the SCOR model, a Bakery that produces goods for a regional supermarket chain can be evaluated as a supply chain. This is supported by the following: The planning process: The Bakery identifies the gap of fulfilling the regional supermarket need to make available the kinds of bake good the customer wants and fills the gap by producing those goods. Sources process: the bakery buys its raw materials from suppliers at a competitive rate Make process: They manufacture the bake goods to fit the needs. Delivery process: the bakery packages the baked goods, ship or delivers to the regional. supermarket chain where the customer can purchase Return: This covers the return all default bake goods by the supermarket or the customer.
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