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Chapter-five

QuestionAnswer
What is a contingent worker? one who has no explicit or implicit contract for longterm employment.
What are the six basic activities that all businesses do? Generate ideas, Raise capital, employ and train personnel, buy goods and services, market their goods and services, and maintain business records.
What are intermediaries? Businesses involved in selling the goods and services of producers to consumers and other businesses.
What is a service business? A business that carries out activities that are consumed by its costumers.
What is a proprietorship? A business owned and run by just one person
What is a partnership? A business owned and controlled by two or more people who have entered into a written agreement.
What is a corporation? A serperate legal entity formed by documents filed with your state.
What is a partnership agreement? A written agreement among all owners.
What is an article of incorporation? A written legal document that defines ownership and operating procedures and conditions for the business.
What is a franchise? A written contract granting permission to operate a business to sell products and services in a set way.
What is a mission statement? A short, specific written statement of the reason a business exist and what is wants to achieve.
What is a businesses goal? What the business wants to achieve.
What is the difference between a policy and procedures? policies are guidelines used for making decisions, while procedures are descriptions of the way work is done.
what is an organization chart? A diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications.
Created by: stephhansen
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