Business environment

midterm

32 cards·by legacy-5429136029908992@noemail.invalid

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limited liability, ease of ownership change, and perpetual life are examples of what?

advantages of a corporation

List the three business types?

Sole proprietorship, partnership, and corporation

limited growth, limited life span, and few fringe benefits are examples of what?

disadvantages for a sole proprietorship

nationally recognized name, lower failure rate, and personal ownership are examples of what?

advantages of a franchise

What does LLP stand for?

Limited liability partnership

The process and policies that determine how an organization interacts with its stakeholders, both internal and external, definition for what

Corporate governance

a legal authorization from government for a company to use the corporate format, is the definition of what?

articles of incorporation

Intrapreneurs work as entrepreneurs, within or outside of a corporation?

within

private individuals who invest money into potentially, hot new companies, are?

angle investors

raising funds through the collection of small contributions from the general public, using internet, is called?

crowdfunding

what are the four traits of an entrepreneur?

energetic, action-oriented, tolerant of uncertainty, and able to learn quickly

five functions of a small business?

planning, financing, marketing, human resources, and accounting

what are the four functions of management?

planning, organizing, controlling, leading

four types of planning?

strategic, tactical, operational, contigency

setting precise standards, is an example of what management?

planning

giving assignments explaining routines, are examples of what management?

leading

allocting resources, assigning tasks, and establishing procedures are examples of what management?

organizing

monitoring performance relative to standards are examples of what management?

controlling

PMI stands for? and is for what?

pulses, minuses, and interest points for a solution

decide which alternative is best, is the what step in the decision making model?

4th

management function that includes hiring, motivating, and retaining the best ppl. available to accomplish the company's goals, what is this?

staffing

what are the three skills a manager should have?

technical, human relation, and conceptual

workers who do not have regular full-time employment are called _____ workers?

contigent

the set of activities used to obtain a sufficient # of the right people at the right time is ______?

recruitment

vestibule training has to do with what?

school

flextime plan allows a worker to ____ when to work?

choose

what are the four types of union security clause agreements?

closed shop, union shop, agency shop, and open shop

two strategies for management in a strike?

stikeberakers, lockouts

strategy for union in a strike?

boycotts

what rate measures employees covered by the collective agreement?

coverage rate

LRB stands for?

Labour relations board

a charge by employees that management is not abiding by or fulfilling the terms of the negotiated labour management agreement is a ______?

grievance