Module 03 Course Project – Contracts and Leases

Module 03 Course Project – Contracts and Leases
OPERATION MANAGEMENT 5 Deciding on the Right Entity for Your Business Name: Rodney Wheeler Institution: Rasmussen College Course: B412/ENT4177 Section 01 Law, Ethics, and Entrepreneurship Date: 08/26/17 Brief Summary of the Business The business choice selected is Directional Educational Solution LLC, which is a company that is aimed at improving the educational aspect of the learning institutions. The purpose of the firm is to provide online and digital solutions to learning whereby the courses are covered from an online portal, and these courses can be easily updated for an adequate education. According to Hammer, (2015), most students and learning institutions are in need for online solutions for the learning process and this business opportunity would be important to utilize. Directional Educational Solution LLC will consider the needs of the students as well as those for the institutions which will employ the solutions. The business will focus on targeting organizations providing engineering and management education as courses, and hence the solutions will use online technology such as web sites for the provision of the learning resources. The business will use the human resources in the process of providing these services. The skills that may be targeted will involve skills in Information Technology, Business Management, Sales and Marketing, and operations management. According to Becker, Kugeler, & Rosemann, (2013), these are the vital workers that are essential to most businesses. Appropriate Business Organization The business organization of Directional Educational Solution LLC will be of importance since the team will help to ensure the operations of the business are conducted efficiently for proper organization performance. In this regard, the business structure will be streamlined in that the management of the same will be delegated from top to bottom. In this respect, the operations of the company will be managed by the senior management involving the managers and the operations will be delegated to all the other departments concerning the events that must be undertaken. This is helpful as the structure will ensure the business is well managed and hence the provide the same with increased profits. The different departments will be responsible for the updating of the courses on the online portal, ensuring the portal is online at all times and ensuring that the resources within the website are available at all times in the entrance. The ownership of the business will be a Limited Liability Company. According to, Kugeler, & Rosemann, (2013), when an organization has a proper structure in the management, the same experiences right management and increased efficiency in work delegation. It would thus be paramount that the Directional Educational Solution LLC business consider the named structure for them to benefit from the same. Hammer, (2015) suggests that the leadership of the company should be reviewed and selected appropriately to ensure that they are capable of standing with the firm for the same to be efficient. Assessment of the Business Structure With the business as a Limited Liability Company, the owners of the firm will benefit from not being liable for the debts of the enterprise. According to, Kugeler, & Rosemann, (2013), if the firm has any loans that they are unable to pay, the personal finances cannot be used to repay the debts of the firm due to the nature of being a limited liability company. In this regard, the character of the firm is critical and hence will be useful in the industry. References Becker, J., Kugeler, M., & Rosemann, M. (Eds.). (2013). Process management: a guide for the design of business processes. Springer Science & Business Media. Hammer, M. (2015). What is business process management? In Handbook on Business Process Management 1 (pp. 3-16). Springer Berlin Heidelberg.