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Impact of unity in a partnership firm.
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[QUOTE="Jasz, post: 217955, member: 61772"] Unity is important to a business, but even more so in a partnership firm. The first step in creating a partnership firm, or any company, is forming the company. A partnership firm is an organization of two or more people who have agreed to share responsibility for the management of some project or business. The people involved in the project are called partners and there can be an unlimited number of them. There are three basic types of partnership: general partnerships, limited partnerships, and joint ventures. The team members are known as partners and each partner has equal control over the business. What makes a firm unique from other businesses is that it is managed by its own partners, who can decide on the rules and regulations for the workplace with minimal regulatory interference from the government. After forming the company comes making decisions about how to make decisions within that company. This is where unity comes into play. Unity in a partnership firm is directly related to decision-making. Decision-making within a firm involves choosing courses of action in response to problems that cannot be solved by existing policies or procedures alone (Parmenter, 2011). Unity is important because it allows a group of people to come together and make decisions that they all agree on rather than letting one individual within that group have complete power over [/QUOTE]
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