Discussion Instructions
Please refer to the Discussion Grading Rubric and Discussion module for details regarding how your performance will be assessed. NOTE: Please be certain to read the entire discussion assignment since in some cases there is more than one question you need to discuss, respond to, or address. Be sure that you have answered the entire question!
Paraphrase rather than use direct quotes and provide the page or paragraph number of the resource. Review the Learn to Use APA so you understand how to cite and reference the eBook, which you are required to use to support the reasoning for what is presented in the discussion questions below. Cite the source materials used.
Discussion 1 – Entrepreneurs and Business Ownership
Although sole proprietorships are the most common form of ownership, the majority of Americans work for corporations. Between sole proprietorship and corporation, there is a range of options: partnership, LLC, LLP, benefit corporation (B corp), S corporation, C corporation, and then a range of not-for-profit and nonprofit structures. Each form of ownership has its advantages and disadvantages, but ultimately the business owner must choose.
Scenario
You have had a home-based Tee-Shirt business for years. You have always been a sole proprietor. Now, you are expanding your business and moving into a retail storefront in a very busy strip center near your home. You will be hiring employees, buying additional equipment and will be open 7 days a week. Please answer the following:
• Discuss the pros and cons of being a sole proprietorship (not list). Should you continue as a sole proprietor when you move into the storefront? Why or why not?
• Assume that you will change your legal form of ownership. What form of ownership would be best and why? Please discuss the pros and cons of the selected ownership.
Discussion 2 Am I an Entrepreneur?
Download and complete the “Entrepreneurial Self-Assessment Survey.” When completing this survey, remember that there is no right or wrong answer, and you should be as honest as possible. Once you have completed the survey, score the results using the scale found on the last page of the survey. You will need the score to complete the discussion assignment below.
Once you have completed and scored the Entrepreneurial Self-Assessment Survey, make your initial post beginning the post with something such as this: “I scored 44 and self-employment may not be an appropriate career for me.”
• Discuss the results of your self-assessment? Were you surprised at the results? Did you agree with your final score? Why or why not?
• Based on the course materials, discuss the entrepreneurial traits and identify the traits that are “non-negotiable” to be a successful entrepreneur?
• Discuss what the possible outcome if someone took this assessment and scored very low, but ignored the results and opened a business anyway?
