10.Forms of ownership

Sole Proprietorship

The legal form of business organization that has only one owner is known as a sole proprietorship, that’s why firm owned by a single person. When a person decides to open business, that person is responsible for it.

Sole proprietor has many advantages. He can make decisions quickly, he, by law, pays fewer taxes than a corporation, also any profits go to the owner.

There are disadvantages to this form of business organization. A sole proprietorship ends with the incapacity or death of the owner, also since it is dependent upon the amount of money the owner has saved or can borrow, usually it doesn’t develop into a large-scale enterprise.

Sole proprietor is well adopted to many kind of small business.

Partnership

A partnership is a n association of two or more persons to carry on a business for profit. General partners are partnership has unlimited liability. And limited partners are partners have limited liability. There is silent partner, he is known to the public and without authority in management. The secret partner is the reverse of the silent partnership.

Partnership have advantages. Like a sole proprietorship they have a tex benefits from the government.

Partnership have certain disadvantages too. One is unlimited liability. Another is that partners may disagree with each other.

Corporation

A business corporation is an institution established for the purpose of making profit. Their shares of ownership are represented by stock certificates. A person who has a stock certificates called a stock-holder.

There are several advantages of the corporate form of ownership. The first is ability to attract financial resources. A corporation attracts a large amount of capital, and corporation can offer higher salaries.

Educational, religious, charitable institutions can also incorporate.

In some western countries, cities, states, federal government and special agencies can established governmental corporation. Governmental corporation are non-profit as a rule and usually they do not issue stock certificates.

11.WCS and WMS.

Although there is some functionality overlap, the differences between warehouse management systems (WMS) and warehouse control systems (WCS) can be significant. Simply put, a WMS plans a weekly activity forecast based on such factors as statistics and trends, whereas a WCS acts like a floor supervisor, working in real time to get the job done by the most effective means. For instance, a WMS can tell the system it is going to need five of stock-keeping unit (SKU) A and five of SKU B hours in advance, but by the time it acts, other considerations may have come into play or there could be a logjam on a conveyor. A WCS can prevent that problem by working in real time and adapting to the situation by making a last-minute decision based on current activity and operational status. Working synergistically, WMS and WCS can resolve these issues and maximize efficiency for companies that rely on the effective operation of their warehouse or distribution center.