Ownership Types
a person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses.
Sole Trader
a group of people who provide support to a company's customers before, during, and after they buy or use a product or service:
Customer Service
a structured document that collects and organizes information for business purposes, such as record-keeping, data gathering, and administrative tasks
Form
a type of organizational structure that uses a chain of command to define reporting relationships and roles within a company
hierarchical structure
Lucas's favorite color
Blue
Partnership
part of a company that ensures that products or services are produced and delivered efficiently and to a high standard
Operations
a set of rules and guidelines that establish how a business operates and helps shape its culture
Policies and Procedures
a business structure that organizes a company into departments based on areas of expertise
Ameer's favorite clothing Brand
Prada
a business entity that is set up with shareholders as the owners of the company. Shareholder liability is to the liabilities of the company, meaning their personal assets are not at risk.
Corporation
company department charged with finding, screening, recruiting, and training job applicants, as well as administering benefits.
HR
the process or activity of running a business, organization, etc.
"the day-to-day administration of the company"
an organizational structure where employees report to more than one manager, creating two chains of command
Matrix Structure
Irisa's favorite city
Athens
a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.
Joint Venture
Department responsible for promoting and selling the company's products or services.
Marketing & Sales
a pre-designed document or system that can be used as a model for creating similar documents or systems
Template
An organizational structure where a company is divided into semi-autonomous business units that operate independently but towards the overall organizational goals
Divisional Structure
Yi's favorite food
Oreo Ice cream
corporation where ownership is distributed among the public through the trading of shares on stock exchanges or over-the-counter markets.
Publicly traded company
They focus on innovation and technological advancements within the company.
R&D
a company's preferred manner of presentation and layout of written material.
House Style
Network
Tulay's favorite country
England