Intro to business

_____ are organizations formed by individuals or businesses with similar interests to achieve greater economies of scale and economic power through collective ownership

Cooperatives

Coca-cola enterprises (CCE) is the largest bottler and distributor of coke products in the world. It's organized around its North American and European divisions. This departmentalization by _____ allows CCE to respond to the demands of different markets

Geography

Which statement accurately describes a business plan

It describes in detail the idea for the new business and how it will be operated

The typical problem-solving team

Meets regularly to share information and discuss ways to improve processes

The combination of two companies that join to form one company is called a

Merger

A/an _____ is a picture of the relationships among tasks and those employees given the authority to do the tasks

Organizational chart

Another term for the matrix structure is the

Project management approach

A type of business entity that provides liability protection but is taxed like a partnership is a/an

S Corporation

The form of business ownership that has the most difficulty in raising capital is the

Sole proprietorship

The C Corporation is another term for

The conventional form of corporation

One of the advantages of owning a small business is

The flexibility to change constantly in response to society's demands

Division of labor refers to

The process of dividing work into separate jobs

Which of the following is an example of a disadvantage associated with a partnership

Unlimited liability

_______ is financing obtained from investment firms that specialize in financing small high growth companies and receive an ownership interest and a voice in management in return for their money

Venture capital

Which statement about a corporation is accurate

A corporation doesn't have a size limitation

Articles of incorporation do not include

A list of all stockholders names

______ are individual investors or groups of experienced investors who provide funding for start-up businesses

Angel investors

A formal written statement that describes in detail the idea for a new business and how it will be carried out

Business Plan

The _____ defines the relationships of authority from one level of organization to the next, from top to bottom

Chain of command

A structure in which authority and responsibility are held by a group of workers rather than a single manager is called a ____ structure

Committee