A corporation is an independent legal formation owned by a group of shareholders. Due to its distinct legal status, a corporation is awarded several rights and responsibilities, including the ability to borrow and lend funds, hire and fire employees, pay taxes, own assets and enter into contracts.Know More
As a distinct legal entity, the corporation itself — and not the shareholders who collectively own the corporation — is liable for all debts and claims made against the business. This limited liability structure allows shareholders to claim portions of the corporation's profits, while eliminating personal liability for the entity's debts.
Corporations are established through the process of incorporation, which requires strict adherence on the part of the shareholders to the laws of the state where the corporation files. Due to the complexity, substantial tax requirements and administrative obligations of corporations, incorporation is sought typically by large and established businesses. Corporations are required to pay federal and state income taxes.
Following the incorporation process, shareholders elect a board of directors who are collectively responsible for managing the entity. Corporations can be held privately or can operate by selling ownership shares on the stock market. Some corporations offer stock shares, and therefore ownership status, to employees as a benefit and incentive.Learn more about Corporations
Some examples of multidomestic corporations are Coca-Cola, Wal-Mart, Honda and Nestle. There are also many examples of small- and medium-size multidomestic companies. Multidomestic companies localize their products and services, so the products and services sold in various countries are tailored to the consumers in each country.Full Answer >
Microsoft Corporation features a divisional organizational style that allows each of its business sectors to operate independently of one another while still reporting to a central command. Various portions of infrastructure like retail, development and support are all part of the enterprise landscape. Microsoft uses a horizontal management landscape to minimize communication interference.Full Answer >
The Target Corporation was determined to be worth $38.35 billionin May of 2014. Target was also ranked number 78 on a list of the World's Most Powerful Brands in 2012.Full Answer >
The Microsoft Corporation considers the concepts of global diversity and inclusion to be key components of the organization's culture and vision. The Office of Diversity & Inclusion was formed to represent Microsoft's dedication to an inclusive workforce.Full Answer >