Corporate Governance

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QUESTION
 
 
A​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​s Chief Executive Officer (CEO), you are going to take the lead in preparing the plan to kick start the restaurant operation. Sally has developed the minimum format guidelines to assemble the required information to build the Business Plan. Restaurant Name: All Things Exotic Introduction -Present and describe the items you will use to address the concerns of your business plan. -Set the stage for the framework that will become your business plan. -Type of business (product or service) -Describe the business, the product or services, location (Florida), and any other facts you want to report. Legal Form of Business -Pick the appropriate form of business except for a sole proprietorship. (The company form may change depending on future events). -Consider the costs associated with the chosen business form. -Explain why you have selected this form of business from a tax, company, and personal liability perspective. -Indicate the advantages and disadvantages of this legal form. -Specify types of officers and duties that will be involved in the company’s management. -Using the business’s location, review all state and federal requirements for starting a business. -Using any new information or previously provided information, write a brief outline mapping the required steps required to qualify. -Using the fictitious name (All Things Exotic) that you researched for availability, attach the information collected from your search. Legal Setting of Business -Expand upon the information you stated under the legal form of business. Describe any government laws or requirements that pertain to your business. -Describe any zoning requirements for the business. -Include any restrictions such as zoning, safety, environmental, easements, or other requirements. Location Requirements -Describe the property or location of your business. -Discuss the viability of the business in the chosen location from a population, transportation, and community income perspective. –Have you considered transportation, ease of customer access, and utilities at this location? -Considering the debt acquired to purchase the property and discuss the viability of the profitability. Business License Research and Costs -Describe the business license and permit requirements for the location where you will be doing business (factor in the type of business and the impact it will have on the costs of governmental regulation).​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​-Check the city and county websites for business license requirements and the costs for the business license. Insurance Requirements -Describe the types of business insurance required for operating this type of business. -Is bonding required? -If you have employees, describe the mandatory types of insurance to consider. Proprietary Rights -Describe any Intellectual Property that your business may own or create. -Consider trademarks, copyrights, design specifications, patents, and logos. -Discuss the steps required to protect all intellectual property associated with the business. Employment Law and Requirements -Attach a copy of the search for federal Labor laws obtained from your research of federal Employment Regulations. Describe your decision to hire or not hire employees vs. independent contractors. -Review IRS.gov for guidance on mandatory taxes. Purchase Orders and Contracts -What foreseeable types of pricing arrangements are you underneath? Contract pricing arrangement examples are firm fixed price, fixed price with economic price adjustment (EPA), etc. -Are the other Regulations that are required based on the mix and government contractor status cost-effective? Government contracts, direct hires, particular needs? -For other types of contracts, are you considering labor, time and materials, or multiyear- type? -Support your contract types with justification. Why are you planning on using these purchase orders and contracts? Torts and Crimes Protection -Describe the types of torts and crimes relating to your business that you will have to protect from damages and disputes. Property and Requirements -Describe any company property (equipment, computer systems, or building requirements) that may be necessary for startup and planned for business operations. -Do you plan on leasing, renting, or buying any business property? Please support your decision. UCC Considerations -You will learn in this course, that the Uniform Commercial Code (UCC) governs many types of business requirements such as contracts for lease or sale of goods, transactions, fraud, the passing of title, risk of loss, and other contract requirements. Describe how you plan to comply with the UCC for your business. Conclusion -Your Plan Conclusion should summarize the main concepts addressed in this paper. Restate the blueprint of your businesses’ success. Restate important ideas and recap your findings​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​.
 

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