Chapter 1 : Reading Assignment First, let’s refresh our memories to recall and appreciate what the major forms of Business Ownership choices are. When reading the materials, please make written notes

Chapter 1 : Reading Assignment First, let’s refresh our memories to recall and appreciate what the major forms of Business Ownership choices are. When reading the materials, please make written notes in reference of your present business and business idea. Compare it to other forms of business. What it means is to envision your business having some elements of all the described above business ownerships. So, to give you an example: when you are reading about the sole proprietorship you will need to know what elements of this form of ownership your business already has, and what elements will you be losing if you chose to switch from this form to a franchise. You will need this information in this unit as well as for the final exam (hint, hint).Do not forget to note your findings in this week’s Learning Journal.

There are essentially four forms of traditional business ownership in North America:

• the sole proprietorship
• the partnership
• the corporation
• and the cooperative

To read more about these options, please visit: http://sbinfocanada.about.com/od/formsofbusinessownership/a/formbusinesshub.htm

There are two less traditional forms: franchising and intrapreneurship.

To find out information about franchising, including franchising-pros and cons, please visit: http://www.quintcareers.com/franchising_pros_cons.html

To find out information on intrapreneurs, please read: http://www.forbes.com/sites/onmarketing/2012/05/21/move-over-entrepreneurs-here-come-the-intrapreneurs/ (Click "Continue to Site" in upper right corner)To read about social entrepreneurs, please visit: https://www.ashoka.org/en/focus/social-entrepreneurship

Globalizing your business:

In order to prepare for this task, please read the following:

http://www.i7marketing.com/small-business/globalize-new-product/

Part 1

1. Describe your smart watch business as a franchise.  Refer to at least three other forms of business ownership by saying why you designed your franchise the way you did. Indicate what factors evident in other forms of ownership you took into account. Make sure that this is clear to your readers. Have at least three paragraphs in your entry. Describe your franchise in the first paragraph, describe how it will function in the second paragraph and invite others to consider it in the third paragraph.

2. Pose your question trying to attract investors in the fourth paragraph. Make it an attractive choice by marketing your global business and by comparing it to other forms of ownership—show off your knowledge and showcase your product offered in a franchise. Remember, there is a lot of competition out there, so make your ad as attractive as possible in order to elicit interest.

part 2

Please share your learnings from this week in your Learning Journal. Concentrate on how you decided to make your business into a franchise and what factors you took into consideration. Do not copy into your Learning Journal any material already available. The focus this week is on originality, so please share your thoughts and your decision making process in a written form.

minimum of 250 words.