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Marketing/Business
Vocab
Term | Definition |
---|---|
Functions of Business | The activities needed to operate a business can be divided into a number of functional areas: management, operations,marketing, accounting, and finance. |
Business Ethics | It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. |
Corporate Social Responsibility | Corporate citizenship refers to an organizations responsibility to create business value by caring for the well-being of all stakeholders including the environment. |
Sole Proprietor | These firms are owned by one person, usually the individual who has day-to-day responsibilities for running the business, own all the assets of the business and the profits generated by it, they also have complete responsibility for any false or debts. |
Corporation | Form of business ownership that is a legal entity on its own and puts stockholders/ shareholders and the board of directors in control. A corporation has unlimited life and in most cases is taxed as an entity on its own. |
Partnership | The tax burden is shared by all the partners at their personal rate, and the general partners have unlimited liability. Limited partners have limited liability. |
Shareholder | Elects a board of directors to oversee the major policies and decisions in a corporation. |
Management | Getting people to work together for the attainment of an organization, directing and controlling. |
Planning | Setting strategic direction (long -range) and determining actions or programs to achieve the objectives. |
Functions of Business | The activities needed to operate a business can be divided into a number of functional areas: management, operations,marketing, accounting, and finance. |
Business Ethics | It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. |
Corporate Social Responsibility | Corporate citizenship refers to an organizations responsibility to create business value by caring for the well-being of all stakeholders including the environment. |
Sole Proprietor | These firms are owned by one person, usually the individual who has day-to-day responsibilities for running the business, own all the assets of the business and the profits generated by it, they also have complete responsibility for any false or debts. |
Corporation | Form of business ownership that is a legal entity on its own and puts stockholders/shareholders |
Partnership | The tax burden is shared by all the partners at their personal rate, and the general partners have unlimited liability. Limited partners have limited liability. |
Shareholder | Elects a board of directors to oversee the major policies and decisions in a corporation. |
Management | Getting people to work together for the attainment of an organization, directing and controlling. |
Planning | Setting strategic direction (long-range) and determining actions or programs to achieve the objectives. |
Organizing | Creating a structure with which to achieve company goals forms the core of organizing. |
Leading | The management of the company. |
Controlling | The process of measuring performance, comparing results to objectives and taking action to correct or improve is the last function of management. |