Unit 2 Vocabulary

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Across
  1. 4. financing: the amount of money needed to open the business.
  2. 7. the function of a manager including all of the activities involved in obtaining, preparing, and compensating the employees of a business.
  3. 9. capital: money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.
  4. 10. influence: power resulting from the personal characteristics of a leader rather than the formal structure of an organization.
  5. 12. business: a business that carries out activities that are consumed by its customers.
  6. 15. statement: short, specific written statement of the reason a business exists and what it wants to achieve.
  7. 16. a designed change that increases the usefulness of a product, service, or process.
  8. 18. values: the important principles that guide decisions and actions in the company.
  9. 20. plan: a written description of the business idea and how it will be carried out, including all major business activities.
  10. 21. influence: power based on a leader’s position within the formal structure.
  11. 22. the ability to motivate individuals and groups to accomplish important goals.
  12. 24. of incorporation: a written legal document that defines ownership and operating procedures and conditions for the business.
  13. 25. chart: a diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications.
  14. 27. the process of starting, organizing, managing, and assuming the responsibility for a business.
  15. 30. owned by members, serves their needs, and is managed in their interest.
  16. 31. the function of a manager that involves analyzing information, setting goals, and making decisions about what needs to be done.
  17. 33. business: an independent business with fewer than 500 employees.
  18. 34. a separate legal entity formed by documents filed with a state. It is owned by one or more shareholders and managed by a board of directors.
  19. 36. businesses involved in selling the goods and services of producers to consumers and other businesses.
  20. 37. a business owned and controlled by two or more people who have entered into a written agreement.
  21. 38. a manager’s effort to direct and lead people to accomplish the planned work of the organization.
  22. 39. an invention or creation that is brand new.
Down
  1. 1. the process of accomplishing the goals of an organization through the effective use of people and other resources.
  2. 2. style: the way a manager treats and involves employees.
  3. 3. financing: the money needed to pay for the current operating activities of a business.
  4. 5. relations: the way people get along with each other.
  5. 6. the function of a manager involving identifying and arranging the work and resources needed to achieve the goals that have been set.
  6. 8. guidelines used in making consistent decisions.
  7. 11. a business owned and run by just one person.
  8. 13. worker: one who has no explicit or implicit contract for long-term employment.
  9. 14. determines to what extent the business is accomplishing the goals it set out to reach in the planning stage.
  10. 17. agreement: a written agreement among all owners detailing the rules and procedures that guide ownership and operations.
  11. 19. power enabling a person to affect the actions of others.
  12. 23. financing: money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years.
  13. 26. business practices: practices that ensure the appropriate standards of conduct are observed in a company’s relationships with everyone who is a part of the business or affected by the business’ activities.
  14. 28. someone who takes a risk in starting a business to earn a profit.
  15. 29. Business Administration (SBA): a government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
  16. 31. a list of steps to be followed for performing a particular work activity; a description of the way work is to be done.
  17. 32. a written contract granting permission to operate a business to sell products and services in a set way.
  18. 35. a precise statement of results the business expects to achieve.