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Quality control and quality assurance are often used interchangeably. Explain the similarities/differences. How might you use these processes in other areas besides operations management?

Be sure to support your point of view with reasons and/or examples from your own experience, observations, or reading.

Postings require a minimum of three paragraphs and each paragraph should have at least three sentences.

Today, there are more corporations than there are sole proprietorships and partnerships in the United States. For a sole proprietorship and partnership, unlimited liability is a legal concept that holds a business owner personally responsible for all the debts of the business. Limited partners in a limited partnership can lose no more than the money they invest in the business. Before a corporation can obtain a corporate charter, it must submit charter information to the county clerk where the business is located. The corporate officers of a corporation are elected by the stockholders. There are more sole proprietorships in the United States than there are partnerships or corporations. The term limited partnership is used to describe a business where all partners have general partnership status. The people who start a corporation are called incorporators. Preferred stockholders are paid dividends before common stockholders. A vertical merger takes place between firms in completely different industries. A small business is one that is dependent, is operated as a not-for-profit organization, and is not dominant in its field. The primary reason for small-business failure is mismanagement resulting from lack of business know-how. The type of person likely to start a small business is independent, has a desire to determine his or her own destiny, and is willing to find and accept a challenge. The SBA is more likely to help non minority small businesses. Franchising is the actual granting of a franchise. An advantage to the franchisor is that he or she gains fast and selective distribution of the product. An advantage for the franchisee is the opportunity to start a business with limited

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