Business Structures
This business structure limits owners’ personal liability.
What is a corporation?
This type of manager directly oversees operative employees.
What is a supervisor?
The structure that divides a company by product or service lines.
What is a divisional structure?
The department responsible for promoting goods and services.
What is marketing?
The phase where the economy is growing.
What is expansion?
In this type of partnership, one partner has limited liability and investment.
What is a limited partnership?
A manager with ten employees directly reporting to them has this type of authority.
What is line authority?
A structure with two supervisors sharing authority is known as this.
What is a matrix structure?
This process records and reports a business’s financial transactions.
What is accounting?
Devon’s video store closed because of streaming—this phase.
What is a trough?
This is the easiest type of business to start and end.
What is a sole proprietorship?
This level of management includes CEOs and presidents.
What is top management?
A business structure based on job functions like marketing or production.
What is a functional structure?
A dance studio is an example of this type of business.
What is a service firm?
The phase with the highest level of economic activity.
What is the peak?
This business allows people to buy into an established brand and operate under its name.
What is a franchise?
This manager type works between top management and supervisors.
What is a middle manager?
This defines roles, responsibilities, and a chain of command.
command.What is organizational structure?
These businesses change raw goods into usable products.
What are processors or manufacturers?
The phase marked by a slowdown in economic activity.
What is a recession?
This type of business has shareholders who own part of the company.
What is a corporation?
When decisions are made by a few people at the top, the company is said to be what?
What is centralized?
This type of structure eliminates boundaries between departments.
between departments.What is a boundaryless structure?
What are processors or manufacturers?5The correct order of the supply chain starts with this type of business.
What is the producer?
One cause of business growth in the cycle is this.
What is the introduction of a new product?