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
