Business Concepts

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Across
  1. 2. business which develops products for distribution from raw goods
  2. 3. Business Structure business structural design which continuously adapts and changes
  3. 5. Partnership form of partnership which partners have an unequal share and liability in the business and are responsible only for the amount invested
  4. 9. of Command principle in which an employee should have only one supervisor to whom they are responsible; decreases conflicting demands and priorities
  5. 10. business which moves finished goods from one business to another by buying, storing and reselling goods; often referred to as “middlemen”
  6. 11. Proprietorship business owned and operated by one individual
  7. 16. Authority straightforward form of authority; gives the supervisor the right to direct the work of their employees without consulting others
  8. 17. Structure clearly defined and organized organizational structure
  9. 19. Employees employees who produce an organization’s goods and services and generally do not manage or oversee the work of other employees
  10. 24. category of the organizational functions of business which utilizes resources to make sure the business runs smoothly to meet goals
  11. 25. part of an organization’s management team which oversees the work of operative employees; considered first-level managers
  12. 27. category of the organizational functions of business which delivers produced goods and services to consumers in a timely manner
  13. 30. category of the organizational functions of business which manages the use of business funds, obtains needed funds and creates a financial plan
  14. 31. business which changes raw goods into a more finished form, known as processed goods
  15. 32. Resources category of the organizational functions of business which maintains the employment process and trains and develops employees
  16. 34. intermediary which sells goods and services to the consumer
  17. 35. Domestic Product total market value of all goods and services produced within the borders of a country during a specific time period; also referred to as GDP
  18. 36. tangible or physical items
  19. 37. period of the business cycle in which business activity is at a maximum
  20. 38. category of the organizational functions of business which creates goods and services in the most efficient and cost-effective manner
  21. 40. Chain connects the producer to the processor to the manufacturer to the intermediaries and ultimately to the consumer and can include the many businesses in between such as, shipping and storage, to provide goods or services to satisfy consumer wants or needs
Down
  1. 1. Decision-Making occurs when decisions are made by the individuals who are the closest to the problem; more conducive to making changes in a process
  2. 4. Managers employees who manage other managers and are responsible for establishing and achieving the goals of a specific department
  3. 6. goods and services a person requires for survival
  4. 7. intermediary which buys finished goods from manufacturers in large quantities and sells them to businesses or retailers in smaller quantities
  5. 8. Organization business which provides goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit
  6. 10. Structure laid-back and undefined organizational structure; involves employees completing tasks which may not always fit their job description
  7. 12. Authority supports line authority; allows others to advise, service and assist the supervisor if needed; allows for input and suggestions from additional staff members, but does not guarantee implementation
  8. 13. business which changes raw or processed goods into finished goods
  9. 14. category of the organizational functions of business which performs functions related to recording and reporting financial transactions
  10. 15. goods and services a person desires, yet are unnecessary for day-to-day life
  11. 18. Business Structure business structural design which is divided by products or services produced and subdivided by functions
  12. 20. Decision-Making occurs when only a select few people at the top of an organization make the decisions
  13. 21. category of the organizational functions of business which promotes goods and services, guides products through the product life cycle and understands consumers through marketing research
  14. 22. Business Structure business structural design which consists of teams with the authority to make decisions and has no chain of command
  15. 23. separate legal entity which forms a board to act as governing bodies
  16. 26. Business Structure business structural design which is a non-elaborate, informal design with centralized authority
  17. 28. category of the organizational functions of business which sells goods and services
  18. 29. period of the business cycle in which business activity decreases for two consecutive quarters
  19. 33. period of the business cycle in which business activity is increasing toward full production
  20. 39. period of the business cycle in which business activity is at its lowest