Chapter 5 Vocabulary

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Across
  1. 2. a diagram that shows the structure of an organization, classification of work and jobs, and the relationship among those classifications
  2. 4. guidelines used in making consistent decisions
  3. 7. a precise statement of results the business expects to achieve
  4. 8. 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.
  5. 10. a business that carries out activities that are consumed by its customers
  6. 11. a written legal document that defines ownership and operating procedures and conditions for the busines
  7. 12. a business owned and controlled by two or more people who have entered into a written agreement
  8. 13. businesses involved in selling the goods and services of producers to consumers and other businesses
  9. 14. one who has no explicit or implicit contract for long-term employment
Down
  1. 1. short, specific written statement of the reason a business exists and what it wants to achieve
  2. 3. a list of steps to be followed for preforming a particular work activity; a description of the way work is to be done
  3. 5. a written contract granting permission to operate a business to sell products and services in a set way
  4. 6. a written agreement among all owners detailing the rules and procedures that guide ownership and operations
  5. 9. a business owned and run by just one person