Professional Practice T2 2013 Flashcards
Code of Ethics
What is the purpose of a code of (ethical) conduct in Professional Photographic Practice
- To serve as a general guide & framework within which a photographer would (ethically) operate their business
- To protect the photographer from possible abuse from any person/entity that they interact with professionally
- To protect any person/entity that interacts professionally with the photographer from abuse by them-photographer
- To protect and safeguard the general status of the photographic profession.
The definition of an ‘Entrepreneur’
The seven components/aspects
(These points must come with “discussion”)
> an entrepreneur is an individual [+discussion]
> who having conceptualized (who has come up with) [+discussion]
> a marketable service &/or product [+discussion]
> &challenged with many calculated risks [+discussion]
> is prepared to commit capital [+discussion]
> in a capitalistic economy [+discussion]
> to start a profitable commercial venture [+discussion]
List 4 legal business forms/types recognized in South Africa
- Sole Proprietorship
- Partnership
- Private Company
- Close Corporation
What are the most appropriate business types for a young entrepreneur ( that is just starting out/after being a photographer’s assistant)
- The Sole proprietor
2. The Partnership
What is the best business type for an individual/individualist photographer ?
A Sole proprietor.
What are the advantages of a sole proprietor?
- you need to know 3
- It is easier to start & close a sole proprietorship (from a legal point of view)
- All income belongs to the owner
- The functioning of the business(enterprise) is simple & is able to adapt easily to changes in the business (circumstances)
- You’re your own boss & have the power to come & go as you please .
- All income belongs to the owner
- You can work from home. (Depending on your type of business)
- Minimal paper work (if you take proper care of your bookkeeping & pay your taxes)
- You can work from home. (Depending on your type of business)
What are the disadvantages of a sole proprietor?
- you need to know 3
1. The creditworthiness of your enterprise is limited to the assets of the owner
2. You as the owner are fully responsible for the losses & can lose your private possessions if the enterprise fails
3.
4.
5.
6.
You find yourself ready to rent premises (to start out on your own-own business)
Identify 5 expert professionals that may be of assistance to you at this point.
*must be able to explain each one (one line explanation)
- the bank manager
- the estate agent
- the architect
- the plumber
- the electrician
- the accountant or the bookkeeper
- the insurance broker
- the security company
- the doctor
- the gym
- the post office
What are the five advantages of renting a studio space ?
- Renting is an affordable option
- Renting allows the person to feel out/ assess whether the profession is really for them
- Renting allows the beginner to confirm their choice of speciality at low risk
- Renting allows the beginner to feel out/assess the suitability of the location at low risk
- Renting allows the beginner to feel out/assess the suitability of the premises.
What is meant by ‘buying’ (according to lecture) ?
Buying : this means buying an existing or established studio/photographic business.
What is meant by ‘starting anew’ (according to lecture)?
Starting anew : this could mean
(1) physically to buy a new building ,
or to
(2)buy existing premises , and then to plan & establish
your own studio /photographic business from scratch
Tabulate 5 advantages & disadvantages of buying an existing business.
Table
Location ,location, location.
Briefly/ concisely discuss any 5 criteria that may be applied in the choice of a business location.
- Is there a market for the particular type of business ?
- Is labour readily available?
- Are the necessary backup services available ?
- How does the cost of premises , rates & utilities compare with other area
- How accessible is the site by( road,rail , air) ?
- Are there competing businesses in the immediate neighbourhood
Elaborate on any 5 considerations regarding the suitability of your photographic premises.
- Will any structural changes be necessary ?
- Is the premises of appropriate size ?
- Will you lease or buy ?
- What opening hours will you keep &; why ?
- Can the premises be used for extended business ?
Question 9
Answer