Business Organization
Which type of business creates the products and services used by individuals and other businesses?
What are producers?
A(n) ______________ is a designed change that increases the usefulness of a product, service, or process.
What is an improvement?
To ____________ a person means to affect the actions of others.
What is influence?
List the two broad types of workers that occupations are broken into.
What is the white collar workers and the blue collar workers?
A ____________ is a natural, inborn aptitude to do certain things.
What is talent?
Which type of business carries out activities that are consumed by its customers?
What are service businesses?
Business plans are usually developed for a 1 year period and then reviewed and updated for the next year.
What is true?
All unethical activities are illegal.
What is false?
A good manager will interview all applicants for an available position.
What is false?
Spending time with a worker on the job to learn about a career is called _________________.
What is job shadowing?
A(n) _________________ is a group of people who join to do some activity that benefits the public.
What is a nonprofit corporation?
A ____________ is a written description of the business idea and how it will be carried out.
What is a business plan?
Give an example of vertical communication.
What is when a manager communicates with an employee or visa versa?
In order to be considered full-time, an employee must work ________ hours or more per week.
What is 30 hours?
An experienced employee who serves as a counselor to a new employee to help them learn their job is a(n) ___________________.
What is a mentor?
A __________ is a more specific statement of what a business expects to achieve.
What is a goal?
An ____________ is an invention or creation that is brand new.
What is an innovation?
_________________ management is a style in which the managers involve the employees in decision making. This type of style expects employees to work without direct supervision.
What is strategic management style?
A _______________ is the advancement of an employee to a position with greater responsibility.
What is promotion?
________________ is the process of studying careers, assessing yourself in terms of careers, and making decisions about a future career.
What is career planning?
A _______________ is one who has no explicit or implicit contract for long-term employment. In other words, people who have short term employment.
What is a contingent worker?
The SBA considers a business small if it employs fewer than ___________ employees.
What is 500?
The ability to motivate individuals and groups to accomplish important goals.
What is leadership?
Which type of termination is used to reduce the number of employees due to changing business conditions?
What is layoff?
What is the first job task when applying for employment?
What is filling out the application form or preparing a personal data sheet.
A ____________________ is the first thing a business sets up to determine the direction the business is going to take.
What is a mission statement?
What type of financing is needed to pay for the current operating activities of a business. This type is obtained for a period of less than a year and often for one or two months.
What is short-term financing?
The principles of conduct governing an individual or a group is known as _____________.
What is ethics?
_______________ is a planned reduction in the number of employees needed in a firm in order to reduce costs and make the business more efficient.
What is downsizing?
_______________ are things that are important to you.
What are values?
Which form of business ownership gives an individual sole control over all business decisions?
What is proprietorship
On the average, what percentage of all new jobs are created by small businesses?
What is 60%-80%?
_________________ management is a style where the manager is the decision maker and stays in close contact with the employees while they work to make sure the work is done well.
What is tactical management style?
____________ means that some employees can complete part or all of their work away from the business site.
What is flex place?
A(n) ______________ is a planned discussion with a worker who is willing to help you find out about the work that a person does, the preparation needed for that career, and the person's feelings about the career.
What is an informational interview?
Which major form of business ownership is the most difficult to form, and they must meet more legal requirements.
What is corporation?
A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
What is the Small Business Administration (SBA)?
Give an example of horizontal communication.
What is when a manager speaks to another manager within that company?
Which type of incentive system pays an employee a specific amount for each unit of work produced?
What is piece rate?
A desire to assist others in your job is an example of your _____________.
What are values?
Which form of ownership will not have access to profits unless a board of directors approves it?
What is a corporation?
Someone who takes a risk in starting a business to earn a profit is called a(n) __________________________.
What is an entrepreneur?
Core values are the important principles that will guide decisions and actions in the company.
What is true?
Which type of incentive system pays an employee a percentage of sales for which he/she is responsible?
What is commission?
A(n) ____________________ asks for information related to employment. This gives the employer standard information about the job applicant.
What is an application form?
Why would people take contingent work?
What is they like the flexible hours and/or they are unable to find a permanent job.
_________________ is money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.
What is venture capital?
List the three levels of management.
What are executives, middle managers, and supervisors?
_______________ and ______________ are the two parts to the work environment.
What are physical conditions and psychological atmosphere?
The willingness and ability of a person to move to where jobs are located.
What is mobility?