Business Stuff
These are things people must have in order to survive.
What is a need?
This function of business carries out the employment process.
What is human resources?
McDonald's, Subway and Raising Canes are an example of this type of business ownership.
What is a Franchise?
This type of organizational structures are laid back and undefined.
What are informal structures?
These are things people desire, but do not need in order for survival.
What is a want?
Child care is an example of this.
What is a service?
This function of business makes sure businesses run smoothly to meet goals.
What is management?
This type of partnership has an unequal share and liability in the business; owners are responsible only for the amount they invested.
What is a limited partnership?
This business structure continuously adapts and changes.
What is a learning business structure?
A pair of shoes is an example of this.
What is a good?
Characteristics of this part of the business cycle include: expansion, increased business activity & decreased employment.
What is growth?
This function of business is responsible for the promotion of goods and services.
What is marketing?
This type of business is owned and operated by one individual.
What is a sole proprietorship?
This type of business structure is group oriented and has no chain of command.
What is a team-based business structure?
Characteristics of this part of the business cycle include: maximum business activity & full employment.
What is peak?
Characteristics of this part of the business cycle include: lowest level of business activity & least amount of output.
What is trough?
This function of business helps ensure that goods and services are delivered in the most efficient and cost-effective way.
What is distribution?
In this type of partnership, the partners share equal liability in the profits and losses of the business.
What is a general partnership?
This type of business structure divides employees by the function they perform in the company.
What is a divisional business structure?
Characteristics of this part of the business cycle include: consecutive quarterly declines in GDP & declining value of the dollar.
What is recession?
An assembly line worker is an example of this type of employee.
What is an operative employee?
Functions are often combined for these types of businesses.
What are small businesses?
This type of business ownership typically has stockholders that own the business that are legally separated from the company.
What is a corporation?
This is the principle in which an employee should have only one supervisor to whom he or she is responsible.
What is the chain of command?
This type of business changes raw goods into a more finished form for product development.
What is a processor?