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General Business Vocabulary

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a business owner are controlled by two or more people who have entered into a written agreement
partnership
a short, specific written statement of the reason a business exists and what it wants to accomplish
mission statement
one who has no explicit or implicit control for long-term employment
contingent worker
descriptions of the way work is to be done
procedure
a specific statement of results the business expects to achieve
goal
a written legal document that identifies ownership and operating procedures and conditions for the business
articles of incorporation
businesses involved in selling the goods and services of producers to consumers and other businesses
intermediaries
a separate legal entity, formed by documents filed with the state, which is owned by one or more shareholders and managed by the board
corporation
a written contract granting permission to operate a business to sell products and services in a prescribed way
franchise
business owned and controlled by just one person
proprietorship
a written agreement along all owners that specifies the rules and procedures that guide ownership and operation
partnership agreement
guidelines used in making consistent decisions
policies
a diagram that shows the structure of an organization, classifications of jobs, and the relationships among those classifications
organization chart