sole proprietorships
a sole proprietorships is also called simply a proprietorship is a business owned by one person
what is sole proprietorships
a corporation is a business that is owned by a group of people and operates under a license
what is corporation
a franchise is a business in which the owner is the only seller of a certain product in a certain area
what is franchise
a strike is when workers deliberately stop working in order to force an employer to give in to their demands
what is strike
with this method,the third party listens to both sides and then decides how to settle the dispute
what is arbitration
the monetary assets required for a business to provide goods and services
what is financial capital
the state where the corporation is formed grants the company a charter.
what is charter
they are organized to make a profit.however,there is another type of business organization
what is nonprofit organization
picketing a union tactic in which striking workings walk with signs that express their grievances
what is picketing
the obligation business have to pursue goals that benefit society as well as themselves
what is social responsibility
the state of being responsible for something, especially by law.
what is liability
at this meeting,the stockholders elect a board of directors to represent them.
what is board of directors
a labor union is an organization of workers that seeks to improve the wages and working conditions of its members
what is labor union
lockout is when management closes a workplace to prevent union members from working
what is lockout
an organization established by a company or an individual to provide money for a particular purpose
what is foundation
partnership is a business that two or more people own and operate together
what is partnership
the corporation's biggest advantages is the ease of raising financial capital.
the corporation's advantages
nearly half the states have right-to-work laws,which ban union shops
what is right-to-work laws
a court order to stop some kind of actions
what is injunction
this is crucial,or important,for corporation
what is crucial
a partnership is formed when two or more people sign a legal agreement called articles of partnership. this document states what role each partner will play in the business
how partnerships are structured
corporations also have some disadvantages. the government regulates them more than any other form of business
the corporation's disadvantages
in this process,officials from the union and the company meet to discuss the workers' contract
what is collective bargaining
they bring in a third party who tries to help them reach an agreement
what is mediation
the process of making business deals or conditions more visible to everyone
what is transparency