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PBF Ch 5 Business Organization

Mrs. Susan Smith

Ch 5 vocabulary, Intro to Business textbook

1                 2        
3                               4

1.businesses involved in selling goods and services of producers to consumers and other businesses
3.short, specific written statement of the reason a business exists and what it wants to accomplish (2 Words)
6.written agreement among all owners that specifies rules and procedures to guide ownership and operations (2 Words)
7.separate legal entity formed by documents filed with the state, owned by shareholders, managed by a board of directors
8.descriptions of the way work is to be performed
9.written contract granting permission to operate a business to sell products and services in a set way
11.a business owned and controlled by 2+ people via a written agreement
12.person without an explicit or implicit contract for long-term employment (2 Words)
13.businesses that complete activities consumed by customers vs. offering products for sale (2 Words)
2.written legal document defining ownership and operating procedures and conditions for the business (3 Words)
4.diagram showing the structure of an organization, job classifications, and relationships among the classifications (2 Words)
5.specific statement of the results the business expects to achieve
6.business owned and controlled by just one individual
10.guidelines used in making consistent decisions

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