Study sets matching "intro to business chapter 6"

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Study sets matching "intro to business chapter 6"

30 terms
Introduction to Business- Chapter 6
Sole proprietorship
Partnership
General partnership
Corporation
A form of business ownership with a single owner who usually…
A voluntary agreement under which two or more people act as c…
A partnership in which all partners can take an active role i…
A form of business ownership in which the business is conside…
Sole proprietorship
A form of business ownership with a single owner who usually…
Partnership
A voluntary agreement under which two or more people act as c…
19 terms
Introduction to Business - Chapter 6
Sole Proprietorship
Partnership
Corporation
Franchise
A business owned by one person
A business owned by two or more people
A company that is registered by a state & operates apart from…
A contract allowing you to use the name & sell the products o…
Sole Proprietorship
A business owned by one person
Partnership
A business owned by two or more people
35 terms
Introduction to Business Chapter 6
Active listening
Behavioral theory of leadership
Big hairy audacious goal (BHAG)
Change agent
The ability to focus on the speaker, block out distractions,…
Principle of leadership that attributes employee and organiza…
A goal that is clear and compelling, serves as a... unifying foc…
Someone who is comfortable... with instigating and managing chan…
Active listening
The ability to focus on the speaker, block out distractions,…
Behavioral theory of leadership
Principle of leadership that attributes employee and organiza…
11 terms
Introduction to Business - Chapter 6
entrepreneur
classic entrepreneur
serial entrepreneur
social entrepreneur
person who seeks a profitable opportunity and takes the neces…
person who identifies a business opportunity and allocates av…
person who starts one business, runs it, and then starts and…
person who recognizes societal problems and uses business pri…
entrepreneur
person who seeks a profitable opportunity and takes the neces…
classic entrepreneur
person who identifies a business opportunity and allocates av…
Introduction to Business: Chapter 6
Management
Managers
Planning
Mission Statement
a process designed to achieve an organization's objectives by…
make decisions about the use of the organization's resources…
the process of determining the organization's objectives and…
is a declaration of an organization's fundamental purpose and…
Management
a process designed to achieve an organization's objectives by…
Managers
make decisions about the use of the organization's resources…
10 terms
Introduction to Business - Chapter 6
Sole Proprietorship
Partnership
Corporation
Franchise
A business owned by one person
A business owned by two or more people
A company that is registered by a state & operates apart from…
A contract allowing you to use the name & sell the products o…
Sole Proprietorship
A business owned by one person
Partnership
A business owned by two or more people
57 terms
Introduction to Business Chapter 6
Management
Efficiency
Effectiveness
Planning
The process of planning, organizing, leading, and controlling…
Achieving the greatest level of output with a given amount of…
Achieving set organizational goals.
That portion of a manager's job concerned with determining wh…
Management
The process of planning, organizing, leading, and controlling…
Efficiency
Achieving the greatest level of output with a given amount of…
11 terms
Introduction to Business Chapter 6
Entrepreneur
Entrepreneurship
Venture Capital
Innovation
Someone who takes a risk in starting a business to earn a pro…
The process of starting, organizing, managing, and assuming t…
Money provided by large investors to finance new products and…
Invention or creation that is brand new.
Entrepreneur
Someone who takes a risk in starting a business to earn a pro…
Entrepreneurship
The process of starting, organizing, managing, and assuming t…
18 terms
Introduction to Business Chapter 6--Types of Business Ownership
Sole Proprietorship
Unlimited Liability
Partnership
Corporation
A business owned by one person.
Owner is responsible for the business debts.
A business owned by 2 or more people.
A company that is registered by a state and operates apart fr…
Sole Proprietorship
A business owned by one person.
Unlimited Liability
Owner is responsible for the business debts.
30 terms
Introduction to Business- Chapter 6
Sole proprietorship
Partnership
General partnership
Corporation
A form of business ownership with a single owner who usually…
A voluntary agreement under which two or more people act as c…
A partnership in which all partners can take an active role i…
A form of business ownership in which the business is conside…
Sole proprietorship
A form of business ownership with a single owner who usually…
Partnership
A voluntary agreement under which two or more people act as c…
14 terms
Introduction to Business: Chapter 6
Entrepreneurship
Entrepreneurial Team
Micropreneurs
Affiliate Marketing
Accepting the risk of starting and running a business
A group of experienced people from different areas of busines…
Entrepreneurs willing to accept the risk of starting and mana…
An online marketing strategy in which a business rewards indi…
Entrepreneurship
Accepting the risk of starting and running a business
Entrepreneurial Team
A group of experienced people from different areas of busines…
14 terms
Introduction to Business Chapter 6
Entrepreneurship
Entrepreneurial Team
Micropreneurs
Affiliate Marketing
Accepting the risk of starting and running a business.
A group of experienced people from different areas of busines…
Entrepreneurs willing to accept the risk of starting and mana…
An online marketing strategy in which a business rewards indi…
Entrepreneurship
Accepting the risk of starting and running a business.
Entrepreneurial Team
A group of experienced people from different areas of busines…
Introduction to Business Chapter 6
Entrepreneur
Classic Entrepreneurs
Serial Entrepreneur
Social Entrepreneur
Risk taker in the private enterprise system; a person who see…
Person who identifies a business opportunity and allocates av…
Person who starts one business, runs it, and then starts and…
Person who recognizes societal problems and uses business pri…
Entrepreneur
Risk taker in the private enterprise system; a person who see…
Classic Entrepreneurs
Person who identifies a business opportunity and allocates av…
14 terms
Introduction to Business - Chapter 6
Sole Proprietorship
Partnership
Corporation
Franchise
A business owned by one person... -disadvantage is that there is…
A business owned by two or more people... -draw up partner agree…
is a business owned by many people but treated by law as one…
A contractual agreement to sell a company's products or servi…
Sole Proprietorship
A business owned by one person... -disadvantage is that there is…
Partnership
A business owned by two or more people... -draw up partner agree…
Introduction to Business chapter 6
sole proprietership
unlimited liability
corporation
limited liability
a business owned by one person
the owner is responsibilty for the company debts
a company that is registered by a state and operates a point…
holds a firms owners responsibly for no more than the capital…
sole proprietership
a business owned by one person
unlimited liability
the owner is responsibilty for the company debts
30 terms
Introduction to Business- Chapter 6
Sole proprietorship
Partnership
General partnership
Corporation
A form of business ownership with a single owner who usually…
A voluntary agreement under which two or more people act as c…
A partnership in which all partners can take an active role i…
A form of business ownership in which the business is conside…
Sole proprietorship
A form of business ownership with a single owner who usually…
Partnership
A voluntary agreement under which two or more people act as c…
34 terms
Introduction to Business Chapter 6
Management
Four main Resources of Management
Planning
Organizing
the process of coordinating people and other resources to ach…
p.161 Figure 6-1... 1.) Material Resources... 2.) Human Resources... 3…
establishing organizational goals and deciding how to accompl…
the grouping of resources and activities to accomplish some e…
Management
the process of coordinating people and other resources to ach…
Four main Resources of Management
p.161 Figure 6-1... 1.) Material Resources... 2.) Human Resources... 3…
Introduction to Business Chapter 6
Motivation
Classical Theory of Motivation
Scientific Management
Intrinsically Motivated Behavior
set of processes that direct, arouse, and maintain human beha…
asserted that workers are motivated solely by money
Time & Motion, Methods, Rules of Work
Deriving from within the person or from the activity itself,…
Motivation
set of processes that direct, arouse, and maintain human beha…
Classical Theory of Motivation
asserted that workers are motivated solely by money
80 terms
Introduction to Business Chapter 6
Management
Four main Resources of Management
Planning
Organizing
the process of coordinating people and other resources to ach…
p.161 Figure 6-1... 1.) Material Resources... 2.) Human Resources... 3…
establishing organizational goals and deciding how to accompl…
the grouping of resources and activities to accomplish some e…
Management
the process of coordinating people and other resources to ach…
Four main Resources of Management
p.161 Figure 6-1... 1.) Material Resources... 2.) Human Resources... 3…
34 terms
Introduction to Business: Chapter 6
Organizational Structure
Organization Chart
Chain of Command
Specialization
specification of the jobs to be done within an organization a…
diagram depicting a company's structure and showing employees…
reporting relationships within a company
determining who will do what
Organizational Structure
specification of the jobs to be done within an organization a…
Organization Chart
diagram depicting a company's structure and showing employees…
24 terms
Introduction to Business Chapter 6
sole proprietorship
sole proprietorship advantages
sole proprietorship disadvantages
partnership
business owned, and usually operated by a single individual.
ease of formation, greater control and flexibility, no specif…
unlimited liability, potential difficulty in borrowing money
type of business entity in which two or more entities (partne…
sole proprietorship
business owned, and usually operated by a single individual.
sole proprietorship advantages
ease of formation, greater control and flexibility, no specif…
6 terms
Introduction to Business (Chapter 6)
Entrepreneurial team
Micropreneurs
Intrapreneurs
Enterprise zones
A group of experienced people from different areas of busines…
Entrepreneurs willing to accept the risk of starting and mana…
Creative people who work as entrepreneurs within corporations
Specific geographic areas to which gov't try to attract priva…
Entrepreneurial team
A group of experienced people from different areas of busines…
Micropreneurs
Entrepreneurs willing to accept the risk of starting and mana…
8 terms
chapter 6 introduction to business
cooperative
nonprofit organization
franchise
sole proprietorship
a business owned and operated by its members in order to save…
an organization that focuses on providing a service
a agreement to use the name of and sell a certain product
is a business owned by one person
cooperative
a business owned and operated by its members in order to save…
nonprofit organization
an organization that focuses on providing a service
14 terms
Chapter 6 Introduction to business
Entrepreneurship
Entrepreneurial Team
Micropeneurs
Affiliate Marketing
Accepting the risk of starting and running a business
A group of experienced people from different areas of busines…
Entrepreneurs willing to accept the risk of starting an manag…
An online marketing strategy in which a business rewards indi…
Entrepreneurship
Accepting the risk of starting and running a business
Entrepreneurial Team
A group of experienced people from different areas of busines…
Introduction to Business- Chapter 6
Sole proprietorship
Partnership
General partnership
Corporation
A form of business ownership with a single owner who usually…
A voluntary agreement under which two or more people act as c…
A partnership in which all partners can take an active role i…
A form of business ownership in which the business is conside…
Sole proprietorship
A form of business ownership with a single owner who usually…
Partnership
A voluntary agreement under which two or more people act as c…
Introduction to Business - Chapter 6
Affiliate marketing
Business plan
Enterprise zones
Entrepreneurial team
An Internet based marketing strategy in which a business rewa…
A detailed written statement that describes the nature of the…
Specific geographic areas to which governments try to attract…
A group of experienced people from different areas of busines…
Affiliate marketing
An Internet based marketing strategy in which a business rewa…
Business plan
A detailed written statement that describes the nature of the…
22 terms
Introduction to Business (Chapter 6)
Organizational structure
Organization chart
Chain of command
Specialization
specification of the jobs to be done within an organization a…
diagram depicting a company's structure and showing employees…
reporting relationships within a company
determining who will do what
Organizational structure
specification of the jobs to be done within an organization a…
Organization chart
diagram depicting a company's structure and showing employees…
Introduction to Business Chapter 6
Management
Four main Resources of Management
Planning
Organizing
the process of coordinating people and other resources to ach…
p.161 Figure 6-1... 1.) Material Resources... 2.) Human Resources... 3…
establishing organizational goals and deciding how to accompl…
the grouping of resources and activities to accomplish some e…
Management
the process of coordinating people and other resources to ach…
Four main Resources of Management
p.161 Figure 6-1... 1.) Material Resources... 2.) Human Resources... 3…
Introduction to Business Chapter 6
Management Defined
Efficiency
Effectively
Making Decisions/Utilization of Resour…
A process defined to achieve an organization's objectives by…
Doing things rightly.... Is it possible to do the wrong things…
Doing the right things.
Planning... Organizing... Staffing ... Directing... Controlling
Management Defined
A process defined to achieve an organization's objectives by…
Efficiency
Doing things rightly.... Is it possible to do the wrong things…
11 terms
Chapter 6 -Introduction To Business
Entrepreneur
Entrepreneurship
Characteristics of Entrepreneur-
What does an Entrepreneur have?
is an actual person
is a process of doing so. Securing Finance.
Persistence... Inquisitive... Energetic... Goal Oriented ... Independent…
Tolerance for ambiguity... Problem Solving skills... Strong Integri…
Entrepreneur
is an actual person
Entrepreneurship
is a process of doing so. Securing Finance.
Introduction to Business - Chapter 6
Sole Proprietorship
Partnership
Corporation
Franchise
A business owned by one person
A business owned by two or more people
A company that is registered by a state & operates apart from…
A contract allowing you to use the name & sell the products o…
Sole Proprietorship
A business owned by one person
Partnership
A business owned by two or more people
20 terms
Introduction to Business - Chapter 6
Sole Proprietorship
Partnership
Corporation
Franchise
A business owned by one person
A business owned by two or more people
A company that is registered by a state & operates apart from…
A contract allowing you to use the name & sell the products o…
Sole Proprietorship
A business owned by one person
Partnership
A business owned by two or more people
23 terms
Introduction to Business- Chapter 6
Sole proprietorship
Partnership
General partnership
Corporation
A form of business ownership with a single owner who usually…
A voluntary agreement under which tow or more people act as c…
A partnership in which all partners can take an active role i…
A form of business ownership in which the business is conside…
Sole proprietorship
A form of business ownership with a single owner who usually…
Partnership
A voluntary agreement under which tow or more people act as c…
38 terms
Introduction to Business Chapter 6
Product Features
Value Package
Consumer
Industrial Buyer
tangible and intangible qualities that a company into its pro…
a product is marked as a bundle of value adding attributes, i…
person who purchases products for personal use
a company or other organization that buys products for use in…
Product Features
tangible and intangible qualities that a company into its pro…
Value Package
a product is marked as a bundle of value adding attributes, i…
14 terms
Introduction to Business Chapter 6
entrepreneurship
entrepreneurial team
micropreneurs
Affiliate Marketing
accepting the risk of starting and running a business
a group of experienced people from different areas of busines…
Entrepreneurs willing to accept the risk of starting and mana…
An online marketing strategy in which a business rewards indi…
entrepreneurship
accepting the risk of starting and running a business
entrepreneurial team
a group of experienced people from different areas of busines…
Introduction to Business: Chapter 6
Organizational Structure
Organization Chart
Chain of Command
Specialization
specification of the jobs to be done within an organization a…
diagram depicting a company's structure and showing employees…
reporting relationships within a company
determining who will do what
Organizational Structure
specification of the jobs to be done within an organization a…
Organization Chart
diagram depicting a company's structure and showing employees…
Introduction to Business Chapter 6
Affiliate Marketing
Business Plan
Enterprise Zones
Entrepreneurial team
An internet-based marketing strategy in which a business rewa…
A detailed written statement that describes the nature of the…
Specific geographic areas to which governments try to attract…
A group of experienced people from different areas of busines…
Affiliate Marketing
An internet-based marketing strategy in which a business rewa…
Business Plan
A detailed written statement that describes the nature of the…
31 terms
Introduction to Business Chapter 6
Planning
Mission
Strategic Planning Process
Goal
Establishing organizational goals and deciding how to accompl…
A statement of the basic purpose that makes an organization d…
The establishment of an organization's major goals and object…
An end result that an organization is expected to achieve ove…
Planning
Establishing organizational goals and deciding how to accompl…
Mission
A statement of the basic purpose that makes an organization d…
15 terms
Introduction to Business Chapter 6 Review
producers
raw goods
processors
processed goods
a business that gathers raw products in their natural state
materials gathered in their natural state such as land or water
a business that changes raw materials into more finished prod…
goods may from raw materials and may require further finishing
producers
a business that gathers raw products in their natural state
raw goods
materials gathered in their natural state such as land or water
introduction to business chapter 6 vocab
producer
processors
manufacturer
wholesaler
business that gathers raw materials in their natural state
businesses that change raw materials into more finished produ…
businesses that make finished products out of processed goods
business that distributes goods: also known as a distributor
producer
business that gathers raw materials in their natural state
processors
businesses that change raw materials into more finished produ…
23 terms
Introduction to Business; Chapter 6 Vocabulary
Sole Proprietorship
Advantages of Sole Proprietorship
Disadvantages for Sole Proprietorship
Partnership
a business owned by only one person
-Easy to start... -Own Boss... -Keep all Profits... -Taxes are low on…
-Pay for everything you self... -There may be Lack of Business S…
a business owned by 2 or more people
Sole Proprietorship
a business owned by only one person
Advantages of Sole Proprietorship
-Easy to start... -Own Boss... -Keep all Profits... -Taxes are low on…
17 terms
Intro. to Business - Chapter 6 Business Ownership and Operations
Sole Proprietorship
Unlimited liability
Partnership
Corporation
A business owned by one person.
Full responsibility for your company's debt.
A business owned by two or more persons who share the risks a…
A business owned by many people but treated by law as one per…
Sole Proprietorship
A business owned by one person.
Unlimited liability
Full responsibility for your company's debt.
20 terms
Introduction to Business - Chapter 6
Name reasons as to why people take the…
What does it take to be an entrepreneur?
Define entrepreneurial teams
Define mircropreneurs
- Opportunity (American dream..) ... - Profit ... - Independence (D…
- Self directed (disciplined)... - Self nurturing (believe in yo…
A group of experienced people from different areas business w…
Entrepreneurs willing to accept the risk of starting and mana…
Name reasons as to why people take the…
- Opportunity (American dream..) ... - Profit ... - Independence (D…
What does it take to be an entrepreneur?
- Self directed (disciplined)... - Self nurturing (believe in yo…
15 terms
Introduction to Canadian Business - Chapter 6
Free Enterprise
Private Sector
SME (Small & Medium Enterprises)
Need for Power (nPow)
An expression used to indicate that individuals have the free…
The part of the economy that is run by private individuals, u…
meaning any business with fewer than 500 employees
motivated to have authority and they need to be influential.…
Free Enterprise
An expression used to indicate that individuals have the free…
Private Sector
The part of the economy that is run by private individuals, u…
11 terms
Introduction to Business Chapter 6 Vocabulary
Entrepreneur
Entrepreneurship
Venture Capital
Innovation
Someone who takes a risk in starting a business to make a pro…
The process of starting, organizing, managing, and assuming t…
Money provided by large investors to finance new products and…
Invention or creation that is brand new
Entrepreneur
Someone who takes a risk in starting a business to make a pro…
Entrepreneurship
The process of starting, organizing, managing, and assuming t…
Chapter 6 Introduction to Business
Human Resources
Human Resources Management
Job description
Recruitment
the people employed in a business, commonly referred to as pe…
the process of finding, selecting, training, and evaluating e…
a detailed outline of the duties, qualifications, and conditi…
the activity of looking for qualified people to fill a job
Human Resources
the people employed in a business, commonly referred to as pe…
Human Resources Management
the process of finding, selecting, training, and evaluating e…
26 terms
Introduction to Business Procedures Chapter 6
check
debit card
forge
internal control
a written order to a bank to make payments against the deposi…
a kind of bank card that allows amounts to be automatically d…
imitate or counterfeit for illegal purposes
a method used by a business to safeguard assets
check
a written order to a bank to make payments against the deposi…
debit card
a kind of bank card that allows amounts to be automatically d…
15 terms
Introduction to Business Chapter 6 Terms by Gwen Davidson
Partnership
Stock
Intermediary
Sole Proprietorship
A business organization with two or more owners who share the…
Shares of ownership in a corporation.
A business that buys and resells goods.
A business owned by one person.
Partnership
A business organization with two or more owners who share the…
Stock
Shares of ownership in a corporation.
Introduction to Business Procedures Chapter 6
check
debit card
forge
internal control
a written order to a bank to make payments against the deposi…
a kind of bank card that allows amounts to be automatically d…
imitate or counterfeit for illegal purposes
a method used by a business to safeguard assets
check
a written order to a bank to make payments against the deposi…
debit card
a kind of bank card that allows amounts to be automatically d…
Introduction to Business Chapter 6 Vocabulary
operating costs
reserve fund
private financing
commercial debt financing
the ongoing expenses for operating a business
money that can be made available for the future expansion of…
borrowing money from family or friends
borrowing money from a bank or other financial institution to…
operating costs
the ongoing expenses for operating a business
reserve fund
money that can be made available for the future expansion of…
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