Category 1
This type of business seeks to make a profit from its operations.
For Profit Organization
This type of business functions like a business but uses the money it makes to fund the cause identified in its charter.
Nonprofit Organization
These are guidelines for good behavior.
Ethics
Reporting an illegal action of one's employer.
Whistle-blowing
This is pricing products unreasonably high when the need is great or when consumers do not have other choices.
Price gouging
What is a public sector job?
The government owns the company.
What is a private sector job?
Any business that is not associated with the government.
Which branch has the greatest impact on business because it makes the laws that businesses must follow?
Legislative
The social effort to protect consumer rights by putting legal, moral, and economic pressure on businesses,
Consumerism
This allows workers to choose their work hours.
Flextime
What are the 3 branches of government?
Executive
Judicial
Legislative
This consists of groups of establishments primarily engaged in producing or handling the same product or group of products
Industry
This is the function of business that involves money management.
Finance
This is the discipline that keeps track of a company's financial situation
Accounting
This involves working at home usually on a computer.
Telecommuting
This regulates the labeling and safety of food, drugs and cosmetics sold in the US.
FDA (Food and Drug Administration)
This is responsible for overseeing the safety of products such as toys, electronics, and household furniture. Their prime concern is the safety of children's products.
Consumer Product Safety Commission (CPSC)
This is responsible for the fair and equitable treatment of employees with regard to hiring, firing, and promotions.
EEOC Equal Employment Opportunity Commission
This sets guidelines for workplace safety and environmental concerns.
Occupational Safety and Health Administration (OSHA)
This regulates the sale of securities (stocks and bonds)
Securities and Exchange Commission (SEC)
This protects human health and the environment. Responsibilities include monitoring and reducing air and water pollution. Oversees recycling and hazardous waste disposal.
Environmental Protection Agency (EPA)
This has the responsibility of enforcing the principles of a free enterprise system and protecting consumers from unfair or deceptive business practices.
Federal Trade Commission (FTC)
What are the 4 main functions involved in an organization
Marketing
Management
Production and Procurement
Accounting and Finance
This involves all the activities from the time a product leaves the producer or manufacturer until it reaches the final consumer.
Marketing activities
This is the process of achieving company goals by effective use of resources through planning, organizing, and controlling.
Management