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Study sets matching "intro to business chapter 5"

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Study sets matching "intro to business chapter 5"

10 terms
Introduction to Business - Chapter 5
Small Business
virtual business
Being your own boss
Sole Proprietorships
an independently owned business that usually has the owner as…
a business that operates on the internet
the main reason people become entrepreneurs
owned and operated by one person
Small Business
an independently owned business that usually has the owner as…
virtual business
a business that operates on the internet
10 terms
Introduction to Business - Chapter 5
Small Business
virtual business
Being your own boss
Sole Proprietorships
an independently owned business that usually has the owner as…
a business that operates on the internet
the main reason people become entrepreneurs
owned and operated by one person
Small Business
an independently owned business that usually has the owner as…
virtual business
a business that operates on the internet
27 terms
Introduction to Business - Chapter 5
small business
home-based business
business plan
Small Business Administration
independent business with fewer than 500 employees, not domin…
firm operated from residence of the business owner
written document that provides an orderly statement of a comp…
principal government agency concerned with helping small U.S.…
small business
independent business with fewer than 500 employees, not domin…
home-based business
firm operated from residence of the business owner
22 terms
Introduction to Business - Chapter 5
Small Business
virtual business (dot-com company)
Sole Proprietorships
Partnership
an independently owned business that usually has the owner as…
a business that operates on the internet... -a dot-com company m…
owned and operated by one person, have unlimited liability
owned and run by two or more people
Small Business
an independently owned business that usually has the owner as…
virtual business (dot-com company)
a business that operates on the internet... -a dot-com company m…
36 terms
Introduction to Business Chapter 5
Acquisition
Analytical skills
Communication
Conceptual skill
The process of recruiting and hiring talented employees.
The ability to identify key factors and understand how they i…
The transference of a message from one individual to another.
The ability to see the big picture, the complexities of the o…
Acquisition
The process of recruiting and hiring talented employees.
Analytical skills
The ability to identify key factors and understand how they i…
11 terms
Introduction to business- Chapter 5
Communication
Noise
Communication barriers
Intercultural communication
The transmission of information between a sender and a recipi…
Any interference that causes the message you to send to be di…
Obstacles to effective communication, typically defined in th…
Communication among people with differing cultural backgrounds.
Communication
The transmission of information between a sender and a recipi…
Noise
Any interference that causes the message you to send to be di…
10 terms
Introduction to Business - Chapter 5
Small Business
virtual business
Being your own boss
Sole Proprietorships
an independently owned business that usually has the owner as…
a business that operates on the internet
the main reason people become entrepreneurs
owned and operated by one person
Small Business
an independently owned business that usually has the owner as…
virtual business
a business that operates on the internet
29 terms
Introduction to Business - Chapter 5
Contingent Worker
Intermediary
Service Business
Proprietorship
one who has no explicit or implicit contract for long term em…
businesses involved in selling the goods and services from pr…
carries out the activities that are consumed by its customers
a business owned and run by just one person
Contingent Worker
one who has no explicit or implicit contract for long term em…
Intermediary
businesses involved in selling the goods and services from pr…
27 terms
Introduction to Business Chapter 5
Small Business
Home-based Business
Business Plan
Small Business Administration
Independent business with fewer that 500 employees, not domin…
Firm operated from the residence of the business owner.
Written document that provides an orderly statement of a comp…
Principal government agency concerned with helping small U.S.…
Small Business
Independent business with fewer that 500 employees, not domin…
Home-based Business
Firm operated from the residence of the business owner.
25 terms
Introduction to Business: Chapter 5
Sole Proprietorship
Partnership
Corporation
Unlimited Liability
A business that is owned, and usually managed, by one person
A legal form of business with two or more owners
A legal entity with authority to act and have liability apart…
The responsibility of business owners for all of the debts of…
Sole Proprietorship
A business that is owned, and usually managed, by one person
Partnership
A legal form of business with two or more owners
62 terms
Introduction to Business Chapter 5
Marketing
Value
Utility
Consumer Goods
organizational function and a set of processes for creating,…
relative comparison of a product's benefits versus its costs…
ability of a product to satisfy a human want or need
physical products purchased by consumers for personal use
Marketing
organizational function and a set of processes for creating,…
Value
relative comparison of a product's benefits versus its costs…
35 terms
Introduction to Business Chapter 5
Contingent worker
Producers
Extractor
Manufacturers
One who has no explicit or implicit contract for long term em…
Create the products and services used by individuals and othe…
A business that takes resources from nature for direct consum…
Get supplies from other producers and convert them into produ…
Contingent worker
One who has no explicit or implicit contract for long term em…
Producers
Create the products and services used by individuals and othe…
34 terms
Introduction to Business - Chapter 5
Sole Proprietorship
Partnership
Corporation
Advantages of "Sole Proprietorship"
A business that is owned and usually managed, by one person.
A legal form of business with 2 or more owners.
A legal entity with authority to act and have liability apart…
1. Ease of starting and ending the business... 2. Being your own…
Sole Proprietorship
A business that is owned and usually managed, by one person.
Partnership
A legal form of business with 2 or more owners.
20 terms
Introduction to Business Chapter 5
Role of Small Businesses
Industries that Attract Small Businesses
Advantages of Small Business Ownership
Disadvantages of Small Business Owners…
Job Creation... Innovation... Exporting
Retailing and Wholesaling ... Services... Manufacturing... High Techno…
Independence... Costs... Flexibility... Focus ... Reputation
High Stress Level... High Failure Rate... -90% of all businesses f…
Role of Small Businesses
Job Creation... Innovation... Exporting
Industries that Attract Small Businesses
Retailing and Wholesaling ... Services... Manufacturing... High Techno…
27 terms
Introduction to Business - Chapter 5
small business
home-based business
business plan
Small Business Administration
independent business with fewer than 500 employees, not domin…
firm operated from residence of the business owner
written document that provides an orderly statement of a comp…
principal government agency concerned with helping small U.S.…
small business
independent business with fewer than 500 employees, not domin…
home-based business
firm operated from residence of the business owner
25 terms
Introduction to Business Chapter 5
Sole Propiertorship
Partnership
Corporation
Unlimited Liability
A business that is owned, and usually managed, by one person.
A legal entity with authority to act and have liability apart…
A legal entity with authority to act and have liability apart…
The responsibility of business owners for all of the debts of…
Sole Propiertorship
A business that is owned, and usually managed, by one person.
Partnership
A legal entity with authority to act and have liability apart…
Introduction to Business Chapter 5
Management Changing Environment
Management Skills
Conceptual Skills
Human Relations Skills
Managers must observe changes in their environment in order t…
Conceptual Skills, Human Relations skills, Technical skills
refer to the ability of manager to think creatively, analyze…
"Interpersonal skills", skills that allow managers to work ef…
Management Changing Environment
Managers must observe changes in their environment in order t…
Management Skills
Conceptual Skills, Human Relations skills, Technical skills
37 terms
Introduction To Business Chapter 5:
Baby Boomers
Contingent Worker
marketing
producers
people who were born between 1946-1964
one who has no explicit contract for long term employment
activities directed at providing the goods and services wante…
create the products and services used by individual and other…
Baby Boomers
people who were born between 1946-1964
Contingent Worker
one who has no explicit contract for long term employment
10 terms
Introduction to Business-Chapter 5
partnership
venture
small business
dot-com business
a business owned by 2 or more people who share its risks and…
a new business undertaking that involves risk
an independently owned business that usually has the owner as…
a business that operates on the Internet
partnership
a business owned by 2 or more people who share its risks and…
venture
a new business undertaking that involves risk
41 terms
Introduction to Business-Chapter 5
Globalization
Import
Export
Per-Capita Income
Process by which the world economy is becoming a single inter…
Product made or grown abroad but sold domestically.
Product made or grown domestically but shipped and sold abroad
The average income per person of a country.
Globalization
Process by which the world economy is becoming a single inter…
Import
Product made or grown abroad but sold domestically.
21 terms
Introduction to Business (Chapter 5)
Management
Planning
Organizing
Leading
process of planning, organizing, leading, and controlling an…
management process of determining what an organization needs…
management process of determining how best to arrange an orga…
management process of guiding and motivating employees to mee…
Management
process of planning, organizing, leading, and controlling an…
Planning
management process of determining what an organization needs…
58 terms
Introduction to Business - Chapter 5
contingent worker
service business
Baby Boomer
In the next 10 years the average age o…
-one who has no explicit or implicit contract for long-term e…
carries out activities that are consumed by its customers
1946-1964
a mini-boom of younger workers ages 20-30.
contingent worker
-one who has no explicit or implicit contract for long-term e…
service business
carries out activities that are consumed by its customers
6 terms
Introduction to Business-Chapter 5
partnership
venture
small business
dot-com business-virtual business
a business owned by 2 or more people who share its risks and…
a new business undertaking that involves risk
an independently owned business that usually has the owner as…
a business that operates on the Internet
partnership
a business owned by 2 or more people who share its risks and…
venture
a new business undertaking that involves risk
11 terms
Introduction to Business-Chapter 5
partnership
venture
small business
dot-com business
a business owned by 2 or more people who share its risks and…
a new business undertaking that involves risk
an independently owned business that usually has the owner as…
a business that operates on the Internet
partnership
a business owned by 2 or more people who share its risks and…
venture
a new business undertaking that involves risk
25 terms
Introduction to Business (Chapter 5)
Sole Proprietorship
Partnership
Corporation
Unlimited Liability
A business that is owned, and usually managed, by one person
A legal form of business with 2 or more owners
A legal entity with authority to act and have liability separ…
The responsibility of business owners for all of the debts of…
Sole Proprietorship
A business that is owned, and usually managed, by one person
Partnership
A legal form of business with 2 or more owners
26 terms
Chapter 5 introduction to business
Sole proprietorship
Unlimited liability
Partnership
General partnership
A business owned by a single person
A legal condition under which any damages or debts incurred b…
An unincorporated company owned by 2 or more people
A partnership in which all partners have joint authority to m…
Sole proprietorship
A business owned by a single person
Unlimited liability
A legal condition under which any damages or debts incurred b…
27 terms
Introduction to Business - Chapter 5
small business
home-based business
business plan
Small Business Administration
independent business with fewer than 500 employees, not domin…
firm operated from residence of the business owner
written document that provides an orderly statement of a comp…
principal government agency concerned with helping small U.S.…
small business
independent business with fewer than 500 employees, not domin…
home-based business
firm operated from residence of the business owner
24 terms
Chapter 5 Introduction to Business
Sole Proprietorship
Partnership
Corporation
Unlimited liability
A Business that is owned, and usually managed, by one person
A legal form of business with two or more owners
A legal entity with authority to act and have liability apart…
The responsibility of business owners for all of the debts of…
Sole Proprietorship
A Business that is owned, and usually managed, by one person
Partnership
A legal form of business with two or more owners
15 terms
Introduction to Business Chapter 5
Small Business
Industries that attract small businesses
Advantages of Small Business
Disadvantages of Small Business
Personally owned and operated for profit, and not dominant in…
•Distribution Services... •Service Industries ... •Production Indus…
•Personal Relationship w/ customers & employees... •Ability to a…
•Risk of Failure... •Limited Potential... •Limited Liability to Rai…
Small Business
Personally owned and operated for profit, and not dominant in…
Industries that attract small businesses
•Distribution Services... •Service Industries ... •Production Indus…
7 terms
Introduction to Business-Chapter 5
partnership
venture
small business
dot-com business
a business owned by 2 or more people who share its risks and…
a new business undertaking that involves risk
an independently owned business that usually has the owner as…
a business that operates on the Internet
partnership
a business owned by 2 or more people who share its risks and…
venture
a new business undertaking that involves risk
11 terms
Introduction to Business-Chapter 5
partnership
venture
small business
dot-com business
a business owned by 2 or more people who share its risks and…
a new business undertaking that involves risk
an independently owned business that usually has the owner as…
a business that operates on the Internet
partnership
a business owned by 2 or more people who share its risks and…
venture
a new business undertaking that involves risk
10 terms
Introduction to Business-Chapter 5
partnership
venture
small business
dot-com business
a business owned by 2 or more people who share its risks and…
a new business undertaking that involves risk
an independently owned business that usually has the owner as…
a business that operates on the Internet
partnership
a business owned by 2 or more people who share its risks and…
venture
a new business undertaking that involves risk
10 terms
Introduction to Business-Chapter 5
partnership
venture
small business
dot-com business
a business owned by 2 or more people who share its risks and…
a new business undertaking that involves risk
an independently owned business that usually has the owner as…
a business that operates on the Internet
partnership
a business owned by 2 or more people who share its risks and…
venture
a new business undertaking that involves risk
Introduction to Business - Chapter 5
small business
home-based business
business plan
Small Business Administration
independent business with fewer than 500 employees, not domin…
firm operated from residence of the business owner
written document that provides an orderly statement of a comp…
principal government agency concerned with helping small U.S.…
small business
independent business with fewer than 500 employees, not domin…
home-based business
firm operated from residence of the business owner
14 terms
Introduction to Business Chapter 5
Contingent Worker
Intermediaries
Service Business
Proprietorship
One who has no explicit or implicit contract for long-term em…
Businesses involved in selling the goods and services of prod…
Carries out activities that are consumed by its consumers.
A business owned and run by just one person.
Contingent Worker
One who has no explicit or implicit contract for long-term em…
Intermediaries
Businesses involved in selling the goods and services of prod…
25 terms
Introduction to Business Chapter 5
Acquisition
Conglomerate merger
Conventional (C) Corporation
Cooperative
One company's purchase of the property and obligations of ano…
The joining of firms in completely unrelated industries
A state-chartered legal entity with authority to act and have…
A business owned and controlled by the people who use it-prod…
Acquisition
One company's purchase of the property and obligations of ano…
Conglomerate merger
The joining of firms in completely unrelated industries
43 terms
Introduction to Business: Chapter 5
Management
Leading
Controlling
Planning
process of planning, organizing, leading, and controlling an…
management process of guiding and motivating employees to mee…
management process of monitoring an organization's performanc…
management process of determining what an organization needs…
Management
process of planning, organizing, leading, and controlling an…
Leading
management process of guiding and motivating employees to mee…
20 terms
Introduction to Business Procedures Chapter 5
modulated
prejudgements
enunciation
colloquialism
adjusted to a proper level
conclusions reached before having full information
pronouncing words clearly
informal language used among a particular group
modulated
adjusted to a proper level
prejudgements
conclusions reached before having full information
15 terms
Introduction to Business Chapter 5
Three Business Types
Sole-Proprietorship
Partnership
Corporation
Sole-Proprietorship, Partnership, Corporation
a business that is owned by one person
a voluntary association of two or more people to act as co-pe…
Many owners in a business made up of shareholders and stockho…
Three Business Types
Sole-Proprietorship, Partnership, Corporation
Sole-Proprietorship
a business that is owned by one person
35 terms
Introduction to Business Chapter 5-Business Organization
Contingent worker
Producers
Extractor
Manufacturers
one who has no explicit or implicit contract for long term em…
create the products and services used by individuals and othe…
business that takes resources from nature for direct consumpt…
get supplies from other producers and convert them into produ…
Contingent worker
one who has no explicit or implicit contract for long term em…
Producers
create the products and services used by individuals and othe…
17 terms
Introduction to Business - Chapter 5 Definitions
Contingent Worker
Intermediary
Service Business
Proprietorship
one who has no explicit or implicit contract for long term em…
businesses involved in selling the goods and services from pr…
carries out the activities that are consumed by its customers
a business owned and run by just one person
Contingent Worker
one who has no explicit or implicit contract for long term em…
Intermediary
businesses involved in selling the goods and services from pr…
18 terms
Chapter 5-Introduction to Business
Types of Businesses:
Intermediaries:
Producers:
Services:
-Intermediaries... -Producers... -Services
Businesses involved in selling the goods and services of prod…
Create the product and services used by individuals and other…
Carry out intangible activities that are consumed by its cons…
Types of Businesses:
-Intermediaries... -Producers... -Services
Intermediaries:
Businesses involved in selling the goods and services of prod…
11 terms
Introduction to Business; Chapter 5 Vocabulary
Entrepreneurship
Virtual Business or dot-com company
Entrepreneur
Profit
is a small business started by someone who notices a need for…
is a business that operates on the internet and get majority…
is a person who recognizes a business opportunity and organiz…
the money left over after a business has paid all cost of pro…
Entrepreneurship
is a small business started by someone who notices a need for…
Virtual Business or dot-com company
is a business that operates on the internet and get majority…
7 terms
Introduction to Business: Chapter 5 Vocab
Small Business
Virtual Business
Venture
Sole proprietorship
-An independently owned business that usually has the owner a…
-A business that operates on the Internet... -Also known as a Do…
-A new business undertaking that involves risk
-A business that is owned and operated by one person
Small Business
-An independently owned business that usually has the owner a…
Virtual Business
-A business that operates on the Internet... -Also known as a Do…
20 terms
Introduction to Business Procedures Chapter 5
modulated
prejudgements
enunciation
colloquialism
adjusted to a proper level
conclusions reached before having full information
pronouncing words clearly
informal language used among a particular group
modulated
adjusted to a proper level
prejudgements
conclusions reached before having full information
15 terms
Introduction to Canadian Business - Chapter 5
GDP
GDP Growth
Recession
Business Cycle
Gross Domestic Product. ... Total value of all the goods and ser…
percentage change from one period to the next in the total va…
Two consecutive quarters (two periods of three months each) w…
The expansion and contraction of a nation's economic activity…
GDP
Gross Domestic Product. ... Total value of all the goods and ser…
GDP Growth
percentage change from one period to the next in the total va…
44 terms
Introduction to Business Chapter 5 & 6
Entrepreneurship
Small business
External shocks
Undercapitalization
the process of creating and managing a business to achieve de…
any independently owned and operated business that is not dom…
unanticipated events that occur in a firm external environmen…
the lack of funds to operate a business normally
Entrepreneurship
the process of creating and managing a business to achieve de…
Small business
any independently owned and operated business that is not dom…
12 terms
Intro To Business, Chapter 5 Vocabulary
Antitrust Law
Monopoly
Social Responsibility
Copyright
Laws that prevent monopolies and promote competition and fair…
Exists when a business has control of the market for a produc…
Refers to the duty of a business to contribute to the well-be…
Protects the creative work of authors, composers, and artists.
Antitrust Law
Laws that prevent monopolies and promote competition and fair…
Monopoly
Exists when a business has control of the market for a produc…
Introduction to Business Chapter 5 Vocab
Contingent Worker
Intermediaries
Service Business
Proprietorship
One who has no explicit or implicit contract for long-term em…
Businesses involved in selling the goods and services of prod…
Carries out activities that are consumed by it's customers.
A business owned and run by just one person.
Contingent Worker
One who has no explicit or implicit contract for long-term em…
Intermediaries
Businesses involved in selling the goods and services of prod…
16 terms
Introduction to Business chapter 5-8
Sole proprietorship
General partnership
Limited partnership
Corporation
One owner has complete control
Two or more powers with equal control unless agreement specif…
Two or more owners with one or more general partners that man…
Unlimited number of shareholders with no limits on stock clas…
Sole proprietorship
One owner has complete control
General partnership
Two or more powers with equal control unless agreement specif…
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