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Chapter 5

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Term
Definition
Contingent Worker   show
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Producer   show
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show A business that takes resources from nature for direct consumption or for use in developing other products.  
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Farmer   show
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show Get supplies from other producers and convert them into products. Sell products to consumers and other businesses.  
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show Businesses involved in selling goods and services of producers to consumers and other businesses. Most common are retailers and wholesalers.  
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show Carries out activities that are consumed by its customers. It does not sell products.  
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show Business owned and run by one person.  
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show Business owned and controlled by two or more people who have entered into an agreement.  
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Corporation   show
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show A written agreement among all owners.  
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Articles of Incorporation   show
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Corporate Bylaws   show
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show The people who will make the major policy and financial decisions for the business.  
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show Provides liability protection for owners.  
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show A group of people who join to do some activity that benefits the public.  
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Cooperative   show
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show A written contract granting permission to operate a business to sell products and services in a set way.  
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show The company that owns the product or service and grants the rights to another business.  
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Franchisee   show
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Mission Statement   show
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show A precise statement of results the business expects to achieve.  
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show Guidelines used in making consistent decisions.  
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Procedures   show
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Responsibility   show
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Authority   show
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show Taking responsibility for the results achieved.  
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show Means there is a clear reporting relationship for all staff of a business.  
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show The number of employees who are assigned to a particular work task and manager.  
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Organization Chart   show
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Functional Organizational Structure   show
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Matrix Organizational Structure   show
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Created by: cruz.umphrey0213
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