Benefits Of Owning The Corporation Essay - 786 Words

According to Longenecker, Petty, Palich, and Hoy (2014), â€Å"an entrepreneur is a person who relentlessly pursues an opportunity, in either a new or an existing enterprise, to create value while assuming both the risk and the reward for her or his efforts† (p, 6). In other words, entrepreneurs are risk takers that are motived by profits, achievements, or success. This motivation helped Chairman Michael German (i.e., German) help grow his family business from startup to a forty-six employee company. Although German shared how the organization has successfully grown over the years, there are advantages and disadvantages of owning the corporation; therefore, his recommendations are important for future entrepreneurs. Founded by German and his son Alex German (i.e., CEO) in May 2004, German Son, Inc. (G S) is a New York based, family-owned, third party logistics provider. A brief interview with German was conducted on December 16, 2016. As per German, he decided to start the business with his son because â€Å"Alex had the expertise in the industry† while he had the business experience (M. German, personal communication, December 16, 2016). German obtained most of his business experience in the telecommunications industry. On the other hand, Alex obtained most of his experience and working relationships in the distribution industry. At the end of 2003, Alex’s employer relocated and paid him severance that equaled to his one year’s salary. As a result, Alex made theShow MoreRelatedEssay about Lockheed Martin Stakeholder Analysis1328 Words   |  6 Pageson stakeholders. Corporations have impacts on a variety of people ranging from shareholders, to governments, to ordin ary citizens. This paper analyzes the impact Lockheed Martin has on all stakeholders, both positive and negative. | Matthew Vogt Business, Government and Society 26 April 2010 Lockheed Martin: Stakeholder Analysis What is a stakeholder? 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