Chapter 5 vocab

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Across
  1. 3. a written legal document that defines ownership and operating procedures and conditions for the business.
  2. 5. business owned and controlled by two or more people who have entered into an agreement.
  3. 8. a diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications.
  4. 11. company purchasing the rights to run the business is the franchisee.
  5. 12. one who has no explicit or implicit contract for long-term employment.
  6. 13. businesses involved in selling the goods and services of producers to consumers and other businesses.
  7. 14. Policies are guidelines used in making consist decisions.
Down
  1. 1. is a written agreement among all owners. It details the rules and procedures that guide ownership and operation.
  2. 2. a separate legal entity formed by documents filed with a state.
  3. 4. descriptions of the way work is to be done.
  4. 6. a precise statement of results the business expects to achieve.
  5. 7. a short, specific written statement of the reason a business exists and what it wants to achieve.
  6. 9. a business owned and run by just one person.
  7. 10. carries out activities that are consumed by its customers.