Chapter 5

4. Articulates a company's purpose. It announces to the world at large why your company exists.
6. someone who establishes their brand's trademark or trade name and a business system.
8. persons or organizations that agree to provide some funds for a new business in exchange for an ownership interest or stake.
9. the practice of funding a project or venture by raising small amounts of money from a large number of people, in modern times typically via the Internet.
10. any independently owned and operated business that is not dominant in its competitive area.
12. a high-net-worth individual who provides financial backing for small startups or entrepreneurs, typically in exchange for ownership equity in the company.
14. To reduce management layers corporate staff and work tasks to make the firm more flexible, resourceful.
15. have 10 million businesses nationwide.

1. an independent agency of the federal government that offers managerial and financial assistance to small businesses.
2. have 15% businesses nationwide.
3. Individuals from large firms who take responsibility for the development of inventions within the organization
5. A precise statement of the business rationale and a step by step explanation of how it will achieve its goal.
7. Someone who pays a royalty and often an initial fee for the right to do business under the franchisor's name and system.
11. the process and managing a business to achieve desired objectives
13. A marketing strategy used by fast food industries used to expand.