MGT211 Assignment 1 Complete Solution 2017
CS411 Assignment No 01 Solution & Discussion Fall 2017
There are three basic forms of business organization widely existed in an economy i.e. Sole Proprietorship, Partnership, and Company. Formation of these three businesses requires different legal requirements and obligations. Their success not only depends upon the capital, leadership and the innovation but it also depends upon the wise and well thought decisions taken by the stakeholders.
Mr. Irshad was running his own business in the vicinity of Lahore. He established a small unit of processing of masala recipes for preparing different traditional and local dishes. With a limited starting capital he was performing well and leading a workforce of 10 employees in his unit. All the employees were well managed under his supervision. One day a bunch of his old friends came to visit him and they were really impressed with his expertise in Masala recipes. They gave him an idea about the expansion of business by forming a company. Actually, they were interested in investing in his business for expansion. Mr. Irshad was also thinking of business expansion and it was good opportunity for him although he was aware of the challenges associated with business expansion.
If you were Mr. Irshad
1. Would you accept/reject the proposal given by his friends? Provide at least five logical arguments in accepting or rejecting the proposal.
2. From the legal perspective, how would you elaborate those requirements that must be fulfilled to form a company?
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