General Business
What problems can result from the use of a functional organizational structure?
Problems that can result from it is that the people become more focused on their specific function than on the success of the whole business.
What are the other specialized forms of business ownership?
Proprietorship Corporation Partnership Other
List several groups that will increase as a percentage of the total U.S. workforce in the next decade.
16-24 age group Asian Hispanic African-Americans
How does a manufacturer differ from and extractor?
A manufacturer is someone who gets supplies from other producers and converts them into products, where an extractor is someone who takes resources from nature for direct consumption or for developing other products.
What is the difference between a mission statement and a goal?
A mission is a direction a business comes from, which is a short written statement of the reason why the business exists, and what it wants to achieve. Meanwhile, a goal is a precise statement of results that the business expects to achieve.
Why do most businesses have no employees other than the owner? Do you believe most of those business owners earn their entire income from that business? Why or why not?
Most businesses have no employees other than the owner because it is the easiest form of business to run. I believe most of the business owners don't earn their entire income from the business because they have to pay all the bills for it, and etc.
What are the differences between the three main forms of business ownership?
The differences between the three is that a proprietorship is the easiest and most common business to run, ran only by one person. A partnership is the business being owned and controlled by two or more people who have entered a written agreement, and a corporation is a separate legal entity formed by documents filed with the state, that is owned by one or more shareholders and managed by a board of directors.
Which form of business ownership is the most complex and difficult to form?
The form of business that is the most complex and difficult to form is a corporation.
What are the six basic activities completed by all businesses?
Generating Ideas Raising Capital Employing and Training Personnel Buying Goods and Services Marketing Goods and Services Maintain Business Records
Would you like to start your own business? Why or why not? What do you believe are the risks and benefits you would face if you decided to start a business?
No, because it sounds like a tedious job to do. What I think the risks are is that if I were to invest my entire savings into the business, and it were to go downhill, I would be bankrupt. The benefits I think I would face though, is that the business will end up being successful and my general income will increase by a large amount.
