Business Organizations

3. A written legal document that identifies ownership and operating procedures and conditions for the business.
7. A business owned and controlled by just one person.
10. A short, specific written statement of the reason a business exists and what it wants to accomplish.
14. A written agreement among all owners that specifies the rules and procedures that guide ownership and operations.

1. A written contract granting permission to operate a business to sell products and services in a prescribed way.
2. A separate legal entity, formed by documents filed with the state, which is owned by one or more shareholders and managed by a board of directors.
4. A diagram that shows the structure of an organization, classifications of jobs, and the relationships among those classifications.
5. One who has no explicit or implicit contract for long-term employment.
6. Guidelines used in making consistent decisions.
8. Descriptions of the way work is to be done.
9. Businesses involved in selling the goods and services of producers to consumers and other businesses.
11. A business owned and controlled by two or more people who have entered into a written agreement.
12. A business that completes activities that are consumed by customers rather than offers products for sale.
13. A specific statement of results the business expects to achieve.