COURSE: Business Chapter: 9 TEACHER: Mr. Blair Grade: 11
I. Objectives
1. After completion of the unit the students will be able to identify and define, in
writing, the three forms of business organizations with 100% accuracy using
in class worksheets.
2. Given a class note outline the students will be able to identify and list, in writing, the advantages and disadvantages of the three forms of business with 100% accuracy.
II. Beginning Activities (2-3)
A. Preliminary Activities
1. Greet class
2. Set up and test equipment.
3. Test overhead.
4. Organize transparencies.
5. Overview of lesson.
B. Materials needed
1. Chalkboard/Dry erase board.
2. Calk/Dry erase marker.
3. Overhead projector.
4. Overhead transparencies.
5. Class outlines.
III. Introduction (3-5)
A. Review Lesson
1. Introduce the three forms of business.
a. Proprietorship
b. Partnership
c. Corporation
2. Introduce the advantages and disadvantages of the three forms of business.
IV. Development (3-5)
A. Examples of the three forms of business.
1. Proprietorship
a. Kiesel Funeral
b. HomeMimo's
c. PizzaPatty's restaurant
2. Partnership
a. Smith & Smith Lumber
b. Saylor Brothers' Hardware
c. Delaney Ford
3. Corporation
a. Nike
b. McDonald's
c. Ford
V. Application (10-15)
A. Identify and define the three forms of business organizations.
1. Proprietorship
2. Partnership
3. Corporations
B. Identify the advantages and disadvantages of proprietorship.
1. Advantages:
a. Easy to start
b. Little governmental regulations
c. Profits stay with the owner
d. Pride of ownership
e. Complete control
f. Lower taxes
2. Disadvantages:
a. Unlimited liability
b. Limited life of the business
c. Difficult to raise money
d. Rick of loss not shared
C. Identify the advantages and disadvantages of partnership.
1. Advantages:
a. Easy to start
b. Little governmental regulation
c. Not difficult to raise money
d. Combination of skills
2. Disadvantages:
a. Unlimited liability
b. Profits are shared
c. Limited life of business
d. Disagreements
D. Identify the advantage and disadvantages of a corporation
1. Advantages:
a. Easy to raise funds
b. Limited liability
c. Unlimited life
d. Specialization management
e. Risks are shared
2. Disadvantages:
a. Difficult to start
b. Less direct control
c. Double taxation
d. Limited activities
VI. Review (5-7)
A. Review forms and definitions of the three forms of business.
B. Review the advantages and disadvantages of the three forms of business.
TRANSPARENCIES FOR CLASS
THREE FORMS OF BUSINESS T-1
Proprietorship:
Is a form of business in which there is one owner.
Partnership:
Is a type of business organization in which there are two or more owners.
Corporation:
Is an organization of people legally bound together by a charter to conduct some type of business.
ADVANTAGES OF PROPRIETORSHIP:
1. Easy to start
2. Little governmental regulations
3. Profits stay with the owner
4. Pride of ownership
5. Complete control
6. Lower taxes
DISADVANTAGES OF PROPRIETRORSHIP:
1. Unlimited liability
2. Limited life of the business
3. Difficult to raise money
4. Risk of loss not shared
ADVANTAGES OF A PARTNERSHIP:
1. Easy to start
2. Little government regulations
3. Not difficult to raise funds
4. Combination of skills
DISADVANTAGES OF A PARTNERSHIP:
1. Unlimited liability
2. Profits are shared
3. Limited life of business
4. Disagreements
ADVANTAGES OF A CORPORATION:
1. Easy to raise funds
2. Limited liability
3. Unlimited life
4. Specialized management
5. Risks are shared
DISADVANTAGES OF A CORPORATION:
1. Difficult to start
2. Less direct control
3. Double taxation
4. Limited activities
