Questions for a start up company which is opening my own photography business:
Describe the ownership structure you use for your new company. Justify your decision fully.
Describe the management structure you will use for your new company. Justify your decision fully.
Discuss how much ownership you are willing to give up to fund your company. Explain how you came to this decision.
Describe fully the market strategies and tactics you intend to use with your new company in terms of the 4Ps of marketing: product, price, place (distribution), and promotion.
The ownership structure will be sole proprietorship because it is a small business and I wish to retain full control over the business. I do not want to share ownership with any partners, neither want to dilute equity at this stage. Hence, sole proprietorship is simple, easy to manage and cost effective structure for me at the startup stage.
In terms of management structure, I want to keep the operations as lean as possible to control costs and keep minimal level of hierarchy going into the future as well. This will help me in ensuring flexible structure, multi tasking among employees and low overheads. I want to develop a corporate culture which fosters innovation and creativity and provides high degree of ...
What is the ownership and management structure you will use in your new company, (photography business) and what marketing strategies and tactics will you use?