General
What is an enterprise that produces goods or provides services?
What is a Business Organization
What is a business owned and managed by a single person?
What is a Sole Proprietorship
What is a Stock?
Of a Nonprofit Organization
The Salvation Army; Soup Kitchens; UNICEF; the Red Cross
Who is the principle at Richwoods High?
Mr. Robison
What is a business owned by stockholders called?
What is a Corporation
What is a partnership in which partners share responsibility for managing the business and each one is liable for all business debts and losses?
What is a General Partnership
What is a dividend?
What is a portion of a corporation's profit that is paid to its shareholders
Of a Horizontal Merger
Coca-Cola & PepsiCo; Mars & The Hershey Co.; Ford & Chevrolet
How Many High Schools are in the Peoria School District (#150)?
What is 3
How does a Conglomerate form?
What is a merger of companies that produce underrated goods or services
What is a Cooperative?
SWITCH UP:What is the difference between a horizontal and vertical merger?
Horizontal - Merger of businesses that offer similar services
Vertical - Merger of businesses that are involved in the production of a product along the way
Of a Franchise
McDonalds; Burger King; Subway; 7-11
SWITCH UP: What are the advantages and disadvantages of each type of partnerships?
Gen. P: Shared Liability & Equal Profits
Limit. P: Limited partners are (mostly) not liable, but receive a smaller share of the profits
LLP: Limited partners are not liable for financial compensation, but only make money when they contribute directly to their work
What is a business that licenses the right to sell its products in a particular area?
What is a partnership in which all partners are not responsible for the debts and other liabilities of other partners?
What is a Limited Liability Partnership (LLP)
Switch Up: What are some of the advantages and disadvantages of a corporation?
Advantages - Access to resources; professional managers; limited liability
Disadvantages - Start-up Cost & Effort; Heavy Regulation; Double Taxation; Loss of Control
Law firm or hospital
In what year did Richwoods open?
1957
Story Time: Explain how to start up a Sole Proprietorship
Access funding, buy a license, buy a site permit, legally register a name
What is a partnership in which at least one partner is not involved in the day-to-day running of business and is liable only for the funds he or she has invested?
What is a Limited Partnership
What is the difference between a Public and Private Company?
What is a corporation that freely trades its shares versus restricting the trade of shares
SWITCH UP: What are the disadvantages of owning a franchise
Franchise Standards; No assurance of success; Profits are shared with the bureaucracy
What advantages would the Peoria Community High Schools see if they Consolidated?
Increased efficiency; unified Peoria identity; diversifying availability of classes (diversifying the product line)