- 3. Plan/ a precise statement of the rationale for the business and a step by step explanation of how it will achieve its goals.
- 6. the rivalry among businesses for consumers' dollars
- 8. is an individual who risks his or her wealth, time, and effort to develop for profit an innovative product or way of doing something
- 10. Business/ any independently owned and operated business that is not dominant in its competitive area and does not employ more than 500 people
- 11. tries to earn a profit by providing products that satisfy peoples needs.
- 13. obligation, to employees to carry out assigned tasks satisfactorily and holds the accountable for the proper execution of their assigned work.
- 15. the grouping of jobs into working units usually called departments, units, groups, or divisions.
- 16. is a form of licensing in which a company-the franchiser- agrees to provide a franchisee the name, logo, method of operation, advertising, products, and other elements associated with the franchiser's business in return for a financial commitment and the agreement to conduct business in accordance with the franchiser's standard of operations.
- 18. a process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment
- 20. the process of determining the organization's objectives and deciding how to accomplish them, the first function of management
- 1. building relationships and sharing information with colleagues who can help then achieve the items on their agendas
- 2. the sale of goods and services to foreign markets
- 4. an association of two or more persons who carry on as co-owners of a business for profit
- 5. employees who accept an assignment and the authority to carry it out are answerable to a superior for the outcome
- 7. prohibits trade in a particular product
- 9. a declaration of an organization's fundamental purpose and basic philosophy
- 12. the division of labor into small, specific tasks and the assignment of employees to do a single task
- 14. motivating and leading employees to achieve organizational objectives
- 17. the elimination of significant numbers of employees from an organization, which has been a pervasive and much talked about trend
- 18. make decisions about the use of the organization's resources and are concerned with planning, organizing, staffing, directing, and controlling the organization's activities to reach its objectives.
- 19. occurs when two companies (usually corporations) combine to form a new company