3106 -Industrial mgt - assgt 2 - 2010 Group 1 Describe the main characteristics / features of sole proprietorship business - Explain

the various advantages and disadvantages - Give reasons why as a business person you would prefer sole - proprietorship over partnership business Group 2 Describe the significant features of partnership form of business - briefly describe the different types of partners - what is a Partnership Deed? - Explain the various advantages and disadvantages of partnerships Group 3 Differentiate between a limited and unlimited company - Give characteristics of a private and public limited Co. - Briefly describe the formation of limited companies - Advantages and disadvantages of limited co. Group 4 What is the difference between industrial disputes and strikes Explain some reasons why employees get involve in strikes. Identify different forms of strikes and explain the nature of each of them. Briefly outline consequences of strikes.

GROUP BEMBERS GROUP 1 KIMONDO C KIMANI S JOMO C OUMA A GROUP 2 WAWERU E MATHERI M AMUKOBOLE J MIDII E GROUP 3 OGEMBO L CHEGE M MOMANYI E KIARIE F GROUP 4 OKELLO M THANGARI N NJENGA P Note. The question number to correspond with the group number i.e Q.1 Grp 1

KCAU Industrial mgt - 3106 cat 2 ANSWER ALL THE QUSTIONS 1. Explain four methods used to create departments in firms.(8 marks). 2. Give four reasons why departments are essential (2 marks). 3. What is decentralization?(2 marks) 4. What is the implication of decentralization on the environment?(8 marks) 5. What job analysis? a) Give the importance of job analysis in an organization. (6mks) b) Distinguish between the following; Job specification and job description (4mks)

To be submitted next Friday 5.3.2010 Limited liability means the responsibility of the owner(s) is limited to the dollar amount invested in the business. If financial obligations are larger than this, then the owner is not obligated to cover the obligation. For instance, personal assets could not be taken to meet the obligation.

Unlimited liability means the responsibility of the owner(s) is unlimited. If financial obligations are more than the owner has invested in the company, then the owner could have to give up personal assets, like a car, in order to satisfy the financial obligation.

Advantages of a Limited Partnership:

It is easier to attract investors as limited partners. This arrangement allows for general partners to use their expertise, make key decisions, and manage the business. Limited partners can leave the business or be replaced, without the need for the limited partnership to be dissolved.

Disadvantages of a Limited Partnership:

There are more filings, formalities, and state requirements with limited partnerships. General partners assume personal liability.

An interesting aspect of the limited partnership is that partners are able to allocate profits, losses, and gains as they see fit, regardless of the equity interest of a specific partner; subject to compliance with tax laws. This, too, can be attractive to prospective investors. A limited company in the United Kingdom or Republic of Ireland is a corporation with shareholders whose liability is limited by shares (Ltd), which is the most common form of privately held company. Setting up as a limited company is an attractive option for many people as, unlike sole traders, personal assets are completely distinct from company finances.[1]