Answer the following questions and submit to Chapters 10 Questions.
1. Why is the selection of a legal structure an important decision for an agribusiness and its owners?
2. Identify and describe at least four factors that need to be considered when choosing a business’s legal structure.
3. What is a limited liability company? How does it differ from a registered limited liability company?
4. Compare and contrast what happens to a business when the owner dies if the business is a (a) sole proprietorship, (b) partnership, or (c) corporation.
5. Explain the difference between a general partner and a limited partner. Give an example where an owner would choose to be each one.
6. Why should a partnership agreement be in writing? Some say the most important part of a partnership agreement is how it can be terminated. Do you agree or disagree? Why?
7. Does the corporate legal structure give too much protection to corporate managers for their misdeeds? Explain.
8. What factors should a business owner consider when choosing the appropriate legal structure for his or her business?
9. Describe the cooperative form of a business’s legal structure. Why do farmers, credit unions, and mutual insurance companies adopt this type of legal structure?
10. Why do many small businesses organize as LLCs?
Answer the following questions and submit to Chapters 17 Questions.
1. Explain how the directing business management function is different from the other three management functions.
2. Define the term “leadership” in your own words. Give an example from your own experience in which you observed good leadership. Provide an example where you observed bad leadership. Describe what you learned from both situations.
3. Describe Maslow’s pyramid of human needs. Explain how work can meet these needs.
4. Describe the steps in developing a work environment in which people seek to excel.
5. Describe your management style. Explain why it works for you.
6. Describe a situation where the autocratic management style would be best. Describe a situation where the participatory management style would work best. Explain why the example you chose was the proper one for that style.
7. What does management by objective mean? How does it help firms success?
8. Why do some manager prefer the autocratic management approach?
9. What could be more important to an employee’s job satisfaction level than his or her pay? Why?
10. In business, why is the starting point for success always getting the firm’s values right?
Answer the following questions and submit to Chapters 18 Questions.
1. Define staffing and explain how it is different from human resource leadership.
2. Identify and describe the three parts of determining a firm’s personnel needs. Explain how they are related to the firm’s business plan.
3. When filling a job, a firm can promote from within or go outside the firm. Describe a situation that supports the decision for each option.
4. What the the two most important pieces of information a person puts on a job application? What should a manager do with them?
5. Discuss the best procedures to use when conducting a performance review.
6. Describe how a manager can get an outstanding performer to continue to excel.
7. How does a manager transfer this year’s poor performer into next year’s great performer? When it the right time to fire a poor performer?
8. Explain why a staff inventory is an assessment of a job rather than the performance of the person holding the job. Is this difference important? Explain.
9. Explain the role of job descriptions and performance reviews in the development of human capital. Why is the development of every employee’s full potential a responsibility of management?
10. Explain why committees rather than individuals should select new employees.
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