One who has no explicit or implicit contract for long-term employment is called a ___________________.

______________________ create the products and services used by individuals and other businesses

Basic business activites include

Businesses involved in selling the goods and services of producers to consumers and other businesses is called a(an) _____________________________.

A business that provides a service as opposed to a product is called _____________________.

____________________ gets supplies from other producers and convert them into products.

Types of ownership include proprietorship, partnerships, corporations and entrerpeneurial ownerships.

A business owned and run by just one person is called a _____________.

A business in which two or more persons combine their assets and skills _ is called a(an)_____________.

A legal entity chartered by a state; ownership is represented by transferable shares of stock is called a _________________.

A written agreement among all owners detailing the rules and procedures that guide ownership and operations is called a(an) __________________.

A written legal document that defines ownership and operating procedures and conditions for the business is called a(an)________________.

The basic rules governing how a corporation is organized and how it conducts its business is called _____________________.

A group of people elected by the stockholders of a corporation to set the policies for the corporation is called ___________________.

A partnership created by two or more companies for a specific purpose over a set period of time is called a _______________.

A group of people who join to do some activity that benefits the public is called a __________________.

A business that is owned by the members it serves and is managed in their interest is called a ______________.

A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area is called a __________________.

A short, specific written statement of the reason a business exists and what it wants to achieve is called a(an) ________________.

A precise statement of results the business expects to achieve is called a(an)

Guidelines used in making consistent decisions is called _______________.

An established or official way of doing something is called procedures.

Principles of an effective organization does not include a(an) _____________.

The obligation to complete specific tasks is called ________________.

Taking responsibility for results achieved is not referred to as accountability.

The right to make decisions about how responsibilities should be accomplished is referred to as __________________.

A reporting relationship in which an employee receives order from, and reports to only one superior is referred to ________________.

_________________ refers to the number of individuals who report to a supervisor.

A diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications is called a organization chart.

An organization where each employee has a one clear supervisor. Staff members are grouped by specialty, such as production, marketing, engineering and accounting and work is completed independent of other functional departments is called a (an)_______________________.__

A work is structured around specific projects, products, or customer groups is called a(an) _________________.