Introduction to Business test terms (March)
cooperative
a business consists of owners who join forces to collectively operate all or part of the functions in their industry
conglomerate merger
a merger of firms in unrelated industries
alien corporation
a type of business ownership formed in one country but that operates in another country
vertical merger
combines firms operating at different levels in the production and marketing process
business plan
having a _________ improves the chances of success for a new business by providing an orderly statement of a company's goals
acquisition
occurs when one firm purchases the property and assumes the obligations of another firm
preferred stock
owners of _______ have limited voting rights, but are entitled to the earliest dividends
corporation
the form of business ownership that establishes the firm as a separate legal entity
sole proproetorship
the form of business ownership that is least subject to legal red tape
merger
two or more firms combine to form one company
small business
independently owned and operated and is responsible for more than half of the nation's gross domestic product
franchising
is a contractual agreement that specifies the methods by which a dealer can produce and market a supplier's good or service
horizontal merger
joins firms in the same industry that wish to diversify, increase their customer base, cut costs, or offer expanded product lines
business incubators
small start up ventures looking for low cost shared facilities can utilize this, which is offered by local community agencies