Starting a business requires planning, projecting what you want for your business today, and determining what your business plan is for the future. A successful business must plan for future growth, which requires making choices today about the type of business to be created. Understanding the different business types, as well as the advantages and disadvantages of each, will assist in making the decision.

In addition, you must be familiar with the key roles involved in each type of business, as well as how they utilize financial information to make operational decisions. The first step is researching the 3 types of business organizations. This research process will allow you the opportunity to explain the fundamental concepts of accounting in the health care environment and showcase your growing accounting skills.

Preparing for the Assignment:

As head of your department, you are responsible for disseminating information to your staff. You have decided to create an infographic handout about the 3 types of business organizations to help them learn about the 3 types of business organizations, understand the key users’ roles, and recognize how the different types of business organizations utilize financial information in the day-to-day business operations. 

Assignment Directions:

Use the information from Ch. 1, “Introduction to Financial Statements,” of Accounting to create an infographic in which you:

• Describe the following 3 types of business organizations: sole proprietorships, partnerships, and corporations.
• Describe 1 advantage and disadvantage for each of the 3 types of business organizations.
• Describe the key users (i.e., sole proprietor, partnership, board of directors, CEO, COO, CFO, managers, etc.) of financial information.
• Explain the types of day-to-day business decisions made by using financial statements.

Format any references used according to APA guidelines. 

Submit your assignment.

Resources

Go to the CBS Undercover Boss website and search for a full episode of the show. Imagine you are the CEO of the company in the selected episode.

In  2–3 pages...

• Provide a detailed comparison of two job positions from the episode.
• Perform a job analysis of each position.
• Provide a clear, detailed description of your method of collecting the information for the job analysis.
  • Examples include one-on-one, interview, or survey.
• Create a detailed job description from the two positions you analyzed.
• Provide clear, conclusive rationale for why the job analyses and job descriptions comply with state and federal regulations.
• Support your propositions, assertions, arguments, or conclusions with at least three credible, relevant, and appropriate sources synthesized in a coherent analysis.
  • Cite each source on your source list at least once within your assignment.
  • For help with research, writing, and citation, access the library or review library guides.
• Write clearly and concisely in a manner that is well organized, grammatically correct, and free of spelling, typographical, formatting, and/or punctuation errors.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

• Create a job description in compliance with state and federal regulations.

 Create a 2-3 page proposal that analyzes your business topic, defines the scope and strategy for how you will go about your capstone project, and explains how your proposed project allows you to demonstrate the MBA program outcomes.

Introduction

Based on the feedback you received from faculty on your capstone summary in Assessment 1, you should now have a firm grasp on the scope of your project. In fact, if someone asks you what your project is about, you should have an “elevator speech” prepared. That is, you should have memorized 1–3 sentences that explain the topic, problem, and scope in a clear and concise way. With just these few sentences, explaining your project to someone while on a short elevator ride would be no trouble at all! Additionally, having such a clear vision will help you with this assessment and the project overall.

For this assessment, you will formally propose your capstone project.

Preparation

Assessment Description

Write a business proposal that formally proposes your capstone project and ends by asking for permission to continue, just as you might propose a project to a supervisor or client.

Include, at minimum, the following information:

• Analyze a business challenge or opportunity.
  • Include an introduction about your proposal.
  • Summarize the capstone project topic, scope, and components; saying that your capstone will comprise a paper and presentation is not enough.
  • Establish the premise of your paper; for example, if your plan is to talk about how Dillard's department store can come back after a huge financial loss, you should include citations that establish its dramatic financial loss.
• Define the strategy, scope, and action plan that you will use to complete the capstone project.
  • Provide a general action plan on how you will research, analyze, and identify recommendations or solutions to this business challenge or opportunity.
  • Discuss the general type of data sources you will be using to inform your analysis. Provide at least two specific sources that you are considering. These resources should be from credible sources such as the Wall Street Journal, IBIS, et cetera. Use the excellent Research Guide – MBA for locating credible resources from the Capella library's business databases and article collections.
  • Include the process or steps on how you will access the data necessary for analysis of a business topic or challenge.
• Write a conclusion.
  • Include a wrap-up that ensures your supervisor/client that your project will meet all requirements, be valuable to them, and be completed on time.
  • Be sure to conclude by asking for permission to continue to the next step.

Your proposal should be organized using these sections:

• Introduction.
• Summary.
• Discussion of the Proposal.
• Strategy and Scope.
• Action Plan.
• Conclusion.

Submission Requirements

• Style: Your proposal should follow professional style, as described in the corresponding MBA Academic and Professional Document Guidelines (available in the MBA Program Resources), including single-spaced paragraphs. It should use subheadings and be well organized and well written.
• Communication: Ensure written communication is free of errors that detract from the overall message and quality.
• APA guidelines: Format your citations according to current APA style.
• Resources: Use at least two citations from credible sources.
• Length: Your proposal should be 2–3 pages (single-spaced, professional style).
• Font and font size: Use 12 point, Times New Roman.

ePortfolio

You should consider adding this to your personal ePortfolio. Writing formal proposals is a business fundamental; this proposal deliverable demonstrates this skill, and you might consider showing it to potential employers and clients.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:

• Competency 1: Apply foundational knowledge and an understanding of business systems, processes, and technology within and across core disciplines.
  • Analyze a business challenge or opportunity.
• Competency 2: Integrate information across disciplines and from differing perspectives.
  • Define the strategy, scope, and action plan that will be used to complete the capstone project.
• Competency 7: Communicate clearly and effectively in a business environment.
  • Write coherently to support a central idea with correct grammar, usage, and mechanics as expected of a business professional.