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17 Cards in this Set
- Front
- Back
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proprietorship |
A business owned and run by one person. |
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Partnership |
A business owned and controlled by two or more people who have entered into a written agreement. |
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corporation |
A legal entity registered with the state that is run by a board of directors. |
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articles of incorporation |
A written legal document that defines the ownership and operating procedures for a business. |
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franchise |
Written contract granting permission to operate a business to sell products and services in a set way. |
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Nonprofit Corporation |
A group of people that join together to do some activity that benefits the public (ex. Red Cross) |
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Cooperative |
A type of business that is owned by its members and managed in their interest. |
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Organizational Chart |
A diagram that shows the structure an organization. |
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Extractor |
A business that takes resources from nature for direct consumption or to be used in other products. |
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Contingent Worker |
A worker who has no long term contract to work with a company. |
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Goal |
A precise statement of the results a business expects to achieve. |
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Service Business |
Carries out activities that are consumed by its customers. |
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Mission Statement |
A written statement that gives the reasons a business exists and what it wants to achieve. |
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Procedure |
A description of the way work is to be completed. |
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Intermediaries |
Businesses that sell goods and services to consumers or other businesses. |
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Marketing |
Activities directed at providing the goods and services wanted by a businesses customers. |
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Policies |
Guidelines used in making consistent decisions. |
