Business structures
A business owned and operated by one person.
What is a sole proprietorship?
What is a franchisor?
Any person who starts a business to make profit
What is an entrepreneur?
What is a shareholder?
A decision for a business to trade at a smaller capacity, through reducing staff, products etc
What is "Downsizing"
A business in which the owners share profits and losses equally.
What is a partnership?
The name of a person who is granted the right to use a business name and sell their products.
What is a franchisee?
Something that businesses are always searching for or must take advantage of.
Opportunities
When owners of a business can be held personally liable.
What is unlimited liability?
To manufacture products in a home country and then send them to be sold in another
What is "Export"
A business viewed as a separate legal entity.
What is a company/corporation?
The main benefit or appeal of operating under a franchise
Using an established business name/reputation
A way businesses can respond to opportunities in the market.
Developing a new product.
A franchise that recently had trouble after widespread incidents of explosive diarrhea.
What is Taco Bell?
A business where an individual holds property or assets for the benefit of a different individual or group of individuals.
What is a trust?
Aspects of operating a franchise which are limited.
Innovation, control or freedom.
A word used to describe a particular sector of the population which a business wants to appeal to.
What is a target market?
Portion of a corporation's earnings distributed to stockholders.
What is a Dividend?
A situation in which businesses actively compete against one another for customer attention and market share
What is "Hostile Environment"
Another term for enterprises established as cooperatives
What is a joint venture?
An international fast food franchise "the colonel".
What is KFC?
A word used to describe different sectors of a population.
What are demographics?
Business that is legally separate from its owners and has most of the legal rights of an actual person.
What is a Corporation/company?
Establishing and using a set of procedures and processes that will prevent product defects and assure a stated level of quality
What is "Quality Assurance"