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| One who has no explicit or implicit contract for long-term employment |
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| Businesses involved in selling the goods and services of producers to consumers and other businesses |
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| Carries out activities that are consumed by its customers |
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Definition
-generating ideas
-raising capital
-employing and training personnel
-buying goods and services
-marketing goods and services
-maintaining business records |
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Definition
-business owned and run by just one person
-easiest to start and end |
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Definition
| business owned and controlled by two or more people who have enetered into an agreement |
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| separate legal entity formed by documents filed with a state |
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Definition
-written agreement among all owners
-details rules and procedures that guide ownership and operations |
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Term
| Articles of Incorporation |
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Definition
| written legal document that defines ownership and operating procedures and conditions for the business |
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Definition
| written contract granting permission to operate a business to sell in a certain way |
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Definition
| short, specific written statement of the reason a business exists and what it wants to achieve |
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-precise statement of results the business expects to achieve
-written after a mission statement |
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| guidelines used in making consistent decisions |
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| descriptions of the way work is to be done |
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| diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications |
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Definition
| Invention or creation that is brand new |
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| designed change that increases the usefulness of a product, service or process |
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Definition
| someone who takes a risk in starting a business to earn a profit |
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Definition
| process of starting, organizing, managing, and assuming the responsibility for a business |
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Definition
| process of starting, organizing, managing, and assuming the responsibility for a business |
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Definition
| money provided by large investors to finance new products and new businesses that have a good chanve to be very profitable |
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Term
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Definition
Independent business with fewer than 500 employees
-approx. 99% of the 26 million US businesses
-owner is usually the manager
-operates in one or very few locations
-typically serves small market
-not dominant in its field |
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| Small Business Administration |
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Definition
| Government agency that helps small business owners develop business plans and obtain financing and other support for their companies |
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Definition
| -amount of money needed to open business |
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Definition
money needed to pay for the current operating activities of a business
-needed/used for less than a year |
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Definition
| money needed for the main resources of a business that will last for many years |
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Term
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Definition
-written description of the business idea and how it will be carried out
-includes all major business activities
-description of business
-customer analysis
-operations plan
-marketing plan
-financial plan |
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Definition
| process of accomlishing the goals of an organization through the effective use of people and other resources |
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Definition
| analyzing information, setting goals, making decisions about what needs to be done |
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Definition
| identifying and arranging the work and resources needed to achieve the goals that have been set |
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Definition
| all of the activities involved in obtaining, preparing, and compensating the employees of a business |
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Definition
| effort to direct and lead people to accomlish the planned work of the organization |
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Definition
| the extent the business is accomlishing the goals it set out to reach in the planning stage |
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Definition
| the way a manager treats and involves employees |
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Definition
| ability to motivate individuals and groups to accomlish important goals |
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Definition
the way people get along with each other
-largely determines whether a manager is successful or not |
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Definition
| enables a person to affect the actions of others |
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Term
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Definition
| leadership isn't part of the formal structure |
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Term
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Definition
| the leadership position is part of the orgaizations structure |
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Term
| Ethical Business Practices |
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Definition
| Ensure that the highest standards of conduct are observed in a company's relationships with everyone who is part of the business or is affected by the business' activities |
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Definition
| important principles that will guide decisions and actions in the company |
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Term
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Definition
| made up of all the people 16 years and older who are employed or who are looking for a job |
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Definition
| planned reduction in the number of employees needed in order to reduce costs and make business more efficient |
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Definition
| removes work from one company and sends it to another company that can complete it at a lower cost |
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Definition
| specific study of a job to identify in detail the job duties and skill requirements |
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Definition
| amount of money paid to an employee for work completed |
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Definition
| direct payment of maoney to an employee for work completed |
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Definition
| compensation in forms other than direct payment |
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Definition
| connect the amount of compensation to the quality or quantity of an employee's performance |
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Definition
| advancement of an employee to a position with greater responsibility |
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Definition
| the assignment of an employee to another job in the company with a similar level of responsibility |
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Definition
| ends the employment relationship between a company and employee |
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Definition
| environment in which people work |
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Definition
| Physical conditions and the psychological atmosphere in which employees work |
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Definition
| Physical conditions and the psychological atmosphere in which employees work |
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Term
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Definition
| Physical conditions and the psychological atmosphere in which employees work |
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Definition
| Organization group of employees who negotiate with employers about issues like work conditions and wages |
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Definition
| comprehensive inclusion of people with differences in personal characteristics and attributes |
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Term
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Definition
| Artificial llimit placed on minority groups moving into positions of authority and decision-making |
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