Question: Read the case study below and answer ALL the questions in this section. KFC s Colonel Sanders Colonel Harland Sanders was born in 1 8

Read the case study below and answer ALL the questions in this section.
KFCs Colonel Sanders
Colonel Harland Sanders was born in 1890in Henryville, Indiana. When he was six years old, his father passed away leaving Sanders to cook and care for his siblings. In seventh grade, he dropped out of school and left home to work as a farmhand. At 16,he faked his age to enlist in the United States army. After being honourably discharged a year later, he got hired by the railway as a labourer. In 1920,he founded a ferry boat company. Later, he tried cashing in his ferry boat business to create a lamp manufacturing company, only to find out that another company already sold a better version of his lamp.
At the age of 40,he began selling chicken dishes in a service station. He later bought a motel which burnt to the ground along with his restaurant. Out of sheer determination, he rebuilt and ran a new motel until World War II forced him to close it down. Following the war, he tried to franchise his restaurant. His recipe was however rejected 1,009times before anyone accepted it.He however continued running his restaurant which boomed until it was crippled when an interstate opened nearby. Sanders then sold it for two million dollars and finally pursued his dream of spreading KFC franchises and hiring KFC workers across the country.
In current times, Sanders remains central in KFC's branding and his face still appears in their logo.His beard, white suit and western string tie continue to symbolise delicious country fried chicken all over the world. At age 90,Sanders passed away from pneumonia. At that time, there were around 6,000KFC locations in 48countries. By 2013,there were an estimated 18,000KFC locations in 118countries. KFC continues to expand internationally. We can all learn from Sanders story. Despite his business being negatively impacted by the Great Depression, fires and World War II,he still created one of the largest fast-food chains in the world. He did not allow failures, setbacks and misfortunes to defeat him.
QUESTION 4(25 Marks)
Your colleague is in the process of setting up a small shop to sell fried and grilled chicken but is unsure of whether to set up the business as a sole proprietorship or as a partnership. Advise him/her on the business form that you think will be best suited for this business and suitably justify why this form rather than the other will be the most suitable for the business

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!