Types of Businesses
A type of business where one person owns, operates, profits from and makes all the decisions.
What is a sole proprietorship
This is stock that shows basic ownership in a corporation.
What is common stock?
Richard Rawlings owns Gas Monkey Garage in Dallas, Texas.. he makes all of the decisions in this type of business.
What is a sole proprietorship?
This guy has built a real estate empire and in his spare time likes to play politics and has even been POTUS.
All businesses are in business to earn _____________.
What are profits?
A type of business where it is owned and operated by at least 2 people who own, operate, profit from and make all the decisions for.
What is a partnership?
When one is liable for all debts and expenses for a sole proprietorship.
What is liabilty?
If Chuck and Dave go into business and open a restaurant that sells Italian food and they both make decisions and profit from the business in this type of business situation.
What is a partnership?
This fellow loves to invent things and likes to play in space in his spare time, he has given us electric cars (Tesla) and Space X.
A mom and pop grocery store at the end of the block where all of their family members work is most accurately described as this type of business.
What is a sole proprietorship?
This type of business is owned stock holders and all decisions are made by a board of directors.
What is a corporation?
In this business, one pays to use the name, sell the products and use the business model and training methods of the main business... most associated with the fast food industry.
What is a franchise?
Nestle is an example of this type of business because they make a whole bunch of different products like bottled water, cookies, candy bars and drumsticks (ice cream cones).
What is a conglomerate?
This very famous fellow started Walmart back in the 1960s and grew it into one of the largest retail corporations in the world.
Who is Sam Walton?
These type of stockholders usually don't have a say so in how a corporation is run.
What is preferred stock?
This business is a firm with 4 or more businesses, each making different products to diversify.
What is a conglomerate?
When firms that produce the same product are bought by one of their competitors to make a larger company this is called a __________ merger.
What is horizontal?
The Ford Motor company bought rubber manufacturing plants to produce tires, a glass factory to produce windshields and a steel mill to produce steel for their car bodies they became this type of merger.
This fellow was once the owner of the Dallas Mavericks NBA franchise, he also is one of the sharks on Shark Tank.
Who is Mark Cuban
This type of business has the least amount of risk or liability.
What is a corporation?
A corporation that operates in multiple countries worldwide and mostly import and export goods and services.
What is a multinational corporation?
When a firms buys up the companies of the entire production process from the ground up. Keeps all profit and cuts out the middle-man this is a _______________ merger.
What is vertical?
Amazon, Coca-Cola, and McDonalds operate all of the world making them all examples of a _________________ corporation.
What is a multinational corporation?
You have probably ordered something from this guy's company very recently or browsed his company's website of Amazon.
Who is Jeff Bezos?
In a ______________, or a membership company, provides discounts/benefits to members only. A Credit Union is an example of one....
What is a cooperative?