Adam Aircraft Essay Example | Topics and Well Written Essays - 2500 words

Adam Aircraft - Essay Example The strategies of the company were typically customer oriented that were endeavored towards producing light, comfortable, affordable and fast aircrafts. Findings The company faced many severe challenges. One of the prime challenges faced by the company was the availability of limited fund. The aspects of inadequate time and lack of skilled workforce were the other vital challenges for the company. At the same time, the company realized that in order to succeed in aircraft industry, it must develop new and innovative products. Recommendations Addressing the challenges faced by the company, certain recommendation have been given. In this regard, the company must cautiously utilize the available time and funds. Any kind of wastage within the company should be quickly curtailed. Further, it should seriously consider the rules and regulation prescribed by FAA in order to prevent any delays during the work process. Table of Contents Memo 2 Table of Contents 4 Introduction 5 Thesis Statemen t 5 Identification and Evaluation of the Company’s Existing Mission, Objectives and Strategies 5 Identification of the Key Strategic Issues (Problem Statement) 7 The Causes of the Problem 8 Identification of the Key Inferences and Assumptions 9 Alternative Solutions 10 Recommendations 12 Conclusion 15 Works Cited 16 Introduction Rick Adam, a successful entrepreneur who had a passion for flying, founded Adam Aircraft Company in the year 1998. Adam identified the market needs and conducted an efficient market research as well as analysis; as the result of his efforts, Adam Aircraft was founded. Rick Adam’s passion for flying has developed since his childhood - he got inspiration from his father, George Adam Sr who had served as an Air Force Officer during the World War II (Hedberg and Hamilton, â€Å"Adam Aircraft†). Thesis Statement This paper is all about making a thorough analysis of the case study relating to Adam Aircraft Company by concerning certain signifi cant aspects. In this regard, the aspects include the identification as well as the evaluation of the company’s existing mission, objectives and recognition of chief strategic issues along with the reasons for the problems. Various aspects such as the identification of the key facts and the assumptions drawn from the aforementioned aspects, proposition of alternative solutions and specific recommendations for action will also be portrayed in the paper. Identification and Evaluation of the Company’s Existing Mission, Objectives and Strategies During the period of the establishment of Adam Aircraft, it has been viewed that the airplane market possessed high entry barriers and required to invest huge capital in order to formulate as well as to implement effective business strategies. In this similar context, Rick identified the pitfalls associated with aircraft manufacturers that included the problems relating to aircraft designing, building and certifying new aircraft. F urthermore, he also identified the prime reasons behind the success and the failure of those companies who had entered the aircraft manufacturing industry with high enthusiasm. The detailed analysis of these significant factors ultimately led him towards recognizing new as well as innovative ways for entering into the aircraft industry. Rick founded the company with the purposeful mission of delivering quality and efficient products or services to its potential customers and ensuring greater customer satisfaction by meting their respective expectations and needs. At the same time, the objectives of the company were to manufacture and deliver advanced aircraft support structure sin the finest way to its valuable

The Law of Enterprise Organization Assignment Example | Topics and Well Written Essays - 2000 words

The Law of Enterprise Organization - Assignment Example This is then followed by a discussion of the pros and cons for each investor and for the business as a whole with a focus on Limited Liability Company, Limited Liability Partnership, and â€Å"S" and "C† corporations. Discussion Sole proprietorship In Massachusetts there are no statutory requirements governing the creation of a sole proprietorship. Hence, a sole proprietor interest in the business is represented by the assets of the business, and he or she is not considered as a separate legal entity, in particular for federal income tax. Therefore, every income, loss, credit and profits are taxed under the owner marginal tax level. The other major reason why sole proprietorships cannot benefit this group is that they will each be completely liable for the responsibility of the business to the degree of his or her individual and business assets. Every personal assets committed to the enterprise can be seized to make payments. Even though homeowner insurance can help in excludi ng liabilities arising in the course of the business transaction, they will still need further riders and policies (Griffin 2). Given that the owner of any sole proprietorship is in complete and absolute command of the business such a structure would not work in a group like this due to dissimilar vested interests, ideas, and contributions. General Partnerships General Partnerships would not work very well for this group since the partners would be liable for the debts as well as obligations arising from any wrongful acts by another partner. Specifically when that partner performs during the commonplace itinerary of the business or otherwise acted with the say-so of other partners. This group comprises ambitious people who have their own idea on how to run the business with each seeking to be more active in the management. Hence, any business debt or liabilities due to one of them implies that they will be liable for the risk also as they are legally tied. Therefore, it is going to be difficult to create lasting trust (Miller and Jentz 530). Limited Partnerships Based on the stipulations of Chapter 109, section 2 of the Uniform Limited Partnership Act, a limited partnership would not work very well for this group since it would imply some members possessing minimal level of control and rather limited liability and the one who is active will be liable for any debt or obligation. For instance, to Charlie such a structure would imply him having minimal control of the business since he would not be active, even though he has contributed significant amount of capital and clientele and publicity. Furthermore, the fact that one general partner responsible for running the partnership implies that he or she will be responsible for debts plus liabilities beyond the sum of their contributions, and this would definitely make it hard for any of them to accept to be a general partner, as it will be a great risk on their part. For Leila this would entail placing her parentsà ¢â‚¬â„¢ retirement and property at risk and Andrew and Indira would lose a lot in terms of their contribution, in particular Indira who is willing to mortgage her house as part of her capital contribution (O'Neill and Warda 14). Limited Liability Partnerships Based on the Uniform Partnership Act Chapter 108A, Section 48 one of the key benefits of Limited liability partnerships is that, there is a