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Definition
a corporation whose stock can be bought and sold by any individual
*stock price |
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| a corporation whose stock is owned by relatively few people and is not sold to the general public |
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| stock owned by individuals or firms who may vote on corporate matters but whose claims on profit and assets are subordinate to the claims of others |
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| stock owned by individuals or firms who usually do not have voting rights but whose claims on dividends are paid before those of common stock owners |
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| a legal form listing issues to be decided at a stockholders' meeting and enabling stockholders to transfer their voting rights to some other individual or individuals |
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| a distribution of earnings to the stockholders of a corporation |
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| a legal concept that holds a business owner personally responsible for all the debts of the business |
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| tax on company income and stockholders |
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Term
Characteristics of a
Sole Proprietorship |
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Definition
simplest form of ownership
easy to start and close
retailing, service, agriculture
retention of all profits
no special taxes |
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Charateristics of a
Partnership |
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Definition
voluntary association of 2 or more
2nd oldest form of ownership
no legal maximum on # of partners
easy start-up
availability of Capital and Credit
No special taxes |
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Term
Characteristics of a
Corporation |
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Definition
artificial person created by law
board of directors
corporate officers
limited liability
easy transfer of ownership
perpetual life |
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Definition
| a license to operate an individually owned business as though it were part of chain of outlets or stores |
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Definition
| a person or organization purchasing a franchise |
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Definition
| an individual or organization granting the franchise |
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| a carefully constructed guide for the person starting a business |
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| What advantages of small business to our economy? |
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Definition
internet most favored growth strategy
tech gives reach/power
..? |
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Definition
| dude in college didnt know what to do and then became really big. first place to have pokemon cards |
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| a statement of the basic purpose that makes an organization different from others |
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| a specific statement detailing what the organization intends to accomplish over a shorter period of time. |
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| the ability to influence others |
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Definition
TQM
the coordination of efforts directed at improving customer satisfaction, increasing employee participation, strengthening supplier partnerships, and facilitating an organizational atmosphere of continuous quality improvement. |
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| 4 Functions of Management |
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Definition
| Planning, Organizing, Leading and Motivating, Controling |
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Term
Define 4 Basic Things
Management |
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Definition
Planning is establishing organizational goals and deciding how to accomplish them.
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| The systematic shifting of employees from one job to another to reduce boredom and dissatisfaction |
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| The separation of activities into distinct tasks and the assignment of different tasks to different people |
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| Departmentalization by product, function, location, customer |
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Definition
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| an organizational structure that combines vertical and horizontal lines of authority, usually by superimposing product departmentalization on a functionally departmentalized organization |
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| assigning part of a managers work and power to other workers |
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| the obligation to accomplish an assigned job or task |
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| Characteristics of a centralized organization |
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