The business is electic dustbins, society there is a greater eye on keeping elct

Question

The business is electic dustbins, society there is a greater eye on keeping elctric dustbins wherin the two different dustbins is to be provided one wet garbage and the other for dry garbage, when the people throw their garbage it will automaically recycle by there an dthen itsely, obviously since it is electric therefore there are chances of elcetric shock. THIS IS THE BUSINESS I CAME UP WITH CAN YOU HELP ME, ANSWER THE QUESTION BELOW??

1. Write appropriate vision and mission statements for your venture. 

2. Which type of legal form of business ownership will you use: sole proprietorship, partnership, or corporation? Why?

3. Many small businesses operate in an industry dominated by big brand franchises. Evaluate the pros and cons and explain why you will or will not be part of a franchise system.

4. Regarding your decision-making and control/authority, will you deploy a centralizedor a decentralized organizational structure? Explain your rationale.

Explanation / Answer

For the business of electric dustbins the answer are as follows :-

1.Vision - To promote cleanliness and hygiene consciousness in the society with the help of technology.

Mission - To make noteworthy contributions by providing technology enabled cleanliness solutions in a safe and environmental friendly manner.

2. I will choose a partnership type of legal form of business. This type of structure will help as the responsibilities and liabilities are equally shared by the partners. Since the business is new and still in trial stage of its safety standards and improvements it needs more focus and control. Risks and profits will be shared equally between the partners.

3.For the electric dustbins business, franchising options will be helpful. Being part of a franchise system has the pros like reducing the risk for the business, quick expansion, ownership by franchisees help in better management and profitability. There are more opportunities to have a better distribution network and increasing awareness about the product.

The cons of Franchisee businesses are that the quality of operations and service of the franchises affect the image of the product and brand. A small business may not be able to maintain control over a vast franchising network and sharing profits with franchisors may not be profitable for the company or brand. For a technology product, it is important that the features and maintenance should be carried out well so that the product can be used properly.

4.For decision making and control/authority, it will be helpful to start with a centralized organizational structure so that various functions, processes and quality of product can be maintained at desired levels. Once the fundamentals of the business are set and a team is in place to control the business based on common goals and philosophies the business can be decentralized gradually with growth and expansion. It will help in maintaining work standards and collective efforts as per the market experience and feedback. The control and decison making will be based on consensus and goals of the business.

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