Forms of Business Ownership
In this form of business ownership, you are responsible for all debts and liabilities sustained by the business.
What is Sole Proprietorship?
This type of leadership style micromanages employees' work.
What is Autocratic Leadership?
This process is a series of steps to help an individual make the best possible choice to meet the business's needs.
What is the Decision Making Process?
Practicing this in business means applying standards of fairness, or moral rights and wrongs, to marketing decision-making, behavior, and practice in the organization.
What is ethics?
This is an inspirational statement that describes what a company wants to become.
What is a Vision Statement?
It takes a lot of time, money, and people to start this form of business ownership.
What is a Corporation?
This leadership style can become ineffective when too many team members are involved, creating a time issue with decision-making.
What is Democratic Leadership?
When executed well, this function can include establishing who has authority and responsibility; creating structure; and clarifying job tasks for employees.
What is the Organizing Function?
Focusing on ethical business decisions allows you to gain what? There are 4 possible answers.
What is:
Consumers' Trust
Brand Credibility
Customer Satisfaction
Happy Employees
Treating others with _______ is essential to forming positive relationships, both in your personal life and professionally.
In this form of business ownership, there can be one or many owners
What is a Limited Liability Company (LLC)
When employees are highly skilled, motivated, and able to make decisions, this style of leadership works well.
What is Laissez-faire?
This function of management is the process of influencing other to work towards a common goal.
What is Leading?
Businesses train their employees on what is __________ and ________ in their company.
What is ethical and unethical?
_____________ is where a group of people collaboratively work together to achieve agoal.
What is Teamwork?
This form of business ownership has no specific owners.
What is a Non-Profit?
Leaders must be able to ____________ ________ to the employee(s) whose skills best match the task to run an efficient operation.
What is Delegate Tasks?
This function is essential in business management because it helps facilitate progress.
What is Planning?
When difficult situations arise where the ethical course of action will not always be clear., these are called ...
What is Ethical Dilemmas?
Managers can either make a business ___________________or they can make it __________, as their decisions impact others and the outcome of a business.
What is Succeed or Fail?
In this form of business ownership, there is often a contract and you have little say in how the business operates.
What is a Franchise?
What level of management are role models for their employees?
What is all three?
This function is a continuous process of keeping an organization on track, monitoring employee performance, and evaluating the effectiveness of the planning process.
What is the Controlling Function?
When businesses exercise this, it helps bolster their image, build it’s brand, and attract very admirable employees.
What is Social Responsibility?
Managers must be extremely good at this skill in order to create a successful working environment.
What is Communication?