Business Marketing Homework
Rating: G
Quality: (Quality: Unrated)
March 26, 2003
Sarah Turman
1. A group of people elected by shareholders to guide a corporation. 8211;Board of Directors
2. A business owned by one person. 8211;Sole Proprietorship
3. An organization that provides services for the citizens with revenue from their taxes and that does not have earning a profit as a goal. 8211;Municipal Corporation
4. An association of two or more people operating a business as co-owners and sharing profits or losses according to a written agreement. 8211;Partnership
5. A business made up of a number of owners but authorized by law to act as a single person. - Corporation
6. A document, generally issued by a state government, giving permission to start a corporation. 8211;Certificate of Incorporation
7. The part of the profits of a corporation that each shareholder receives. - Dividend
8. A person who owns stock in a corporation. 8211;Shareholder
9. A business that is owned by the members it serves and is managed in their interest. 8211;Cooperative
10. A written contract granting permission to sell someone else8217;s product or service in a prescribed manner, over a certain period of time, and in a specified area. 8211;Franchise
11. The person or group of people who have received permission from a parent company to sell its product or services. 8211;Franchisee
12. The parent company that grants permission to a person or group to sell its products or services.
Reviewing
1. Advantages of Julie Alcess- All profits were hers, all losses were hers, and
2. Disadvantages of Julie Alcess-Long hours, much decision making, needed help
3. 5 activities as manager-planning, organizing, staffing, leading, controlling
5. 6 items agreed to in partnership-the name of new business, how much to invest, salary, profits and losses will be shared, manager has main responsibility, in death remaining partner can buy business
6. Two advantages corporation over partnership- more sources of capital available, owners liable to their own investments
7. Two disadvantages of corporation 8211; have to take personal risks, difficult to start, owners do not have control of decisions
8. Evidence of ownership- stock certificates
9.Manages Corporation- Board of directors
10. Keep part of profit- for business profit expansion
11. 3 agreements of Franchise- the name of business, products or services offered, design and color of building, price of product or service, uniforms of employees
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