MGM101H5 Lecture Notes - Lecture 5: Contract, Succession Planning, General Partnership

101 views5 pages
8 Oct 2017
School
Department
Course
Professor
thomasjalarcon and 38454 others unlocked
MGM101H5 Full Course Notes
25
MGM101H5 Full Course Notes
Verified Note
25 documents

Document Summary

Started the company on his own, worked for himself. He put a lot of time into. Just because a business has 1 or 10000 employees, doesn"t mean it"s one type. It"s more about understanding the needs of the business and the conditions the business is facing at the time, that will drive an manager to choose the appropriate business model. Franchising allowed him to maintain control of stores but still expand the business. If the franchise fails he doesn"t lose much. Though, his reputation is on the line if the franchise doesn"t do well. Allowed him to expand his business without incurring high costs. Buy franchising, he can open many stores, gets the money from franchisees purchasing rights, and gets royalties from sales. Franchisees have skin in the business , they"ve invested large amounts of money and have a lot at stake. A form of marketing and he builds a national brand. Being the first into a market is critical.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents