Thursday, August 9, 2007

Sole Proprietorship

Ques. "A one man show is the best in this world provided this one man is big enough to manage everything." elaborate the statement.

1 comment:

bindu dewan said...

“A one man show is the best in this world”.
I fully agree to the statement. A sole proprietorship is the form of business organization, which is owned, managed & controlled by an individual who bears all risks & all profits. He takes all the decisions pertaining to the business and is not even required to consult anybody. This is an especially suitable business for small scale operations and where personal contact with the customer is essential.
BUT
This business will be said to be the best only if the owner is able to overcome his limitations. One man can't have all the skills and knowledge about every thing like decision making related to sale, purchase, production, finance etc. Moreover his financial abilities are also limited.
...If the sole proprietor has got the sufficient & good knowledge of his work, enough experience, supervision ability, control, good management, leadership, and also sufficient finances, it will definitely be the best form of business organization.
AND HENCE IT IS VERY MUCH JUSTIFIED THAT, “A ONE MAN SHOWS HIS BEST WORLD PROVIDED THIS ONE MAN IS BIG ENOUGH TO MANAGE EVERYTHING”.
Combined and edited answer as given by Sahil, Ashish and Bhawna Piplani.