Business Ownership
A business owned by one person
What is a sole proprietorship?
Structure shaped like a pyramid
Hierarchical
The top leader of a company
CEO
This department handles advertising
Marketing
Communication between different levels
Vertical
A business owned by two or more people
What is a partnership?
Structure with few or no levels of management
Flat
The person who oversees daily work
Supervisor
This department manages money and budgets
Finance
Communication between coworkers
Horizontal
A business model where you use someone else’s branding
What is a franchise?
Structure where employees report to more than one manager
Matrix
Leadership style where the leader asks for input
Democratic
This department handles hiring and training
HR (Human Resources)
Casual conversation at work is this type
Informal communication
The business type that is a separate legal entity
What is a corporation?
Structure built around teams working on projects
Team-based
Leadership style with very little direction
Laissez-faire
This department maintains computer systems
IT
Shows who reports to whom
Organizational chart
One advantage of a partnership
Shared responsibility / Shared decision-making / Easier to raise capital (any valid
The purpose of having an organizational structure
Organizes roles, clarifies reporting, improves efficiency (any valid)
Leadership style that inspires and motivates
Transformational
This department handles customer issues and returns
Customer Service
The number of employees reporting to a manager
Span of control