ch4
when you start a business by yourself
What is a proprietorship?
professional connections and business associations
What are people?
company's broad of directors, president, and high ranking managers
who is top level management
the ability to hear what a person is says and understand what they are saying
what is Listening skills?
the process of changing goods to create good and services
What is Conversion?
a Business that was started with two or more people
what is a partnership?
Determination to work through obstacles
What is persistence?
division managers and department heads
Who is middle management
the ability to analyze a situation, interpret information , and make reasonable decisions
what is critical thinking skills ?
A business that sells materials, supplies ,or services
What is a supplier
the type of market called where you buy items for personal use
what is a consumer market?
is something people believe in
What is passion?
supervisors, foreman , and shift managers
who is first-line management
A group of two or more people work together
What is a team?
finding materials needed for production
What is sourcing?
two types of intermediaries
what are Wholesalers and Retailers?
being driven to be independent and successful
what is purpose
A backup plan if something goes wrong
what is a Contingency plan?
cooperative efforts of team members to achieve a goal
What is teamwork?
using a new package for a item
What is repackaging?
two types of producers
what are Extractors and Manufacturers ?
a person willing to risk starting a business
what is a entrepreneur?
designed to reach day-to-day goals
what are operational plans?
coming together to discuss a compromise
a working model of a new design
what is a prototype?