Forms of business ownership
The abbreviation 'plc' stands for this.
public limited company
How many industry sectors are listed in your handout?
three
A collective noun for employees of an organization.
personnel, staff
This shows the internal structure of a business and the roles and responsibilities of staff.
organisation chart
What does CV stand for?
curriculum vitae
In this business model, you acquire the right to use an existing business idea.
franchising
In the primary sector, acquired goods such as metals, coal, crops and wood are known as what?
raw materials
A person who has submitted the required documents to be considered for a job position.
applicant
This type of organisation has relatively few levels of hierarchy.
flat organisation
vacancy
These types of company are incorporated, which means they have their own legal identity and can sue or own assets in their own right.
limited company
Name two verbs describing activities typical of the secondary sector.
manufacture, produce, assemble, convert, build
The training given to new workers so that they understand the responsibilities of their position.
induction
What are the four main areas of business activity?
finance
human resources
marketing
operations
An advantage of opening a franchise...
less risky
The shares of this company type do not trade on the stock exchange.
private limited company (ltd)
Name some typical examples of tertiary sector businesses.
insurance, transport, advertising, warehousing, teaching, health care, selling
Two main methods by which employees can further develop and acquire job-related skills.
on-the-job and off-the-job training
A supervisor is ____ ____ ____ her subordinates.
in charge of
Name the four types of organisation
tall
flat
centralised
decentralised
In the eyes of the law, there is no distinction between the owner and the business of these two business types.
Sole trader and Partnerhsip
Primary production is also known as...
Extraction production
A chance for an employee to discuss their recent work and future training needs with their manager in a meeting.
staff appraisal / evaluation
Entrusting tasks or decisions to subordinates...
delegation
What does CEO stand for?
Chief Executive Officer