Vocabulary
What is a Priorietorship
Creates products and services used by individuals and other businesses
The process of starting, organizing, managing and assuming responsibility for a business.
Entreprenuership
The process for success or failure of a business held responsible when goals are not met
Management
Made up of people 16 and older employed or seeking a job.
What is a workforce.
One who has no explicit or implicit contract for long-term employment
Contingent Worker
People who make the major policy and financial decisions in a corporation are the
What are the Board of Directors
A government agency that helps entrepreneurs develop business plans and obtain financing is
Small Business Administration
Tactical, Strategic and Mixed are all examples of..
Management Styles
Consumer preferences, economy conditions, new technology, and business competition
What are changes in the workforce.
Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.
Diagram that shows the structure of an organizations classifications of work, jobs and relationships among classifications
What is an organization chart.
Independent business with less than 500 employees
Small Business
Planning, Organizing, Staffing, Implementing, and Controlling
What are the 5 functions of management
A person whose work is more mental than physical and involves handling and processing information.
What is a white collar worker.
Direct, controlling, oversees workers closely
Tactical Management
Lack of interest, lose track of goals, employees don't want to work
What finance options are there for financing?
What are start-ups, short term and long term.
The ability to motivate individuals and groups to accomplish goals.
Leadership
Organized group of employees to negotiate wages and working conditions
What is a Labor Union.
Environment where people work, atmosphere, behavior, beliefs and relationships
What is an organizational culture.
Employing and training personnel, generating ideas, raising capital, buying goods and services, marketing goods and services, maintaining business records
What are the six basic activities completed by all businesses.
Explain the three options of financing and what each is used for.
Start up - open the business
Short Term - less than year - advertising, marketing activities
Long Term - more than a year - buildings, machines, vehicles
What are some important aspects of ethical management?
Actions and activities of the business are legal, honest, and ethical.
People and other companies are treated fairly.
Work of the company improves the communities and countries in which it operates.
Resources are used efficiently with consideration of the effect on people and the environment.
Identify the 4 Main Human Resource Activities and explain each in your own words.
Planning and staffing, Performance Management, Compensation and Benefits, and Employee Relations