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Maarketing Vocab 2

Unit 2

TermDefinition
Functions of Business Activities needed to operate a business, can be divided into Functional Areas ; Management, operations , marketing , accounting , and finance.
Business Ethics a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that come up in a business environment. Applies to all business conduct aspects and is relevant to the conduct of individuals or entire orgs.
Corporate Social Responsibility Corporate Citizenship refers to an organization responsibility to create business value by caring for the well being of all stake holders including the environment
Sole Proprietor Firms owned by one person , usually someone who has daily responsibilities for running the business, own all the assets of the business and the profits it generates, they also assume responsibility for debts and Liabilites
Corporation Form of business ownership that is a legal entity on its own and puts stock/stake holders and board of directors in control. Owners have limited liability for the Corps actions . A corps has an unlimited life and in mast cases is taxed as an entity
Partnership general or limited, but in either case the partners are in control. The taxes are shared by all partners at a personal rate, and the partners have unlimited liability but limited partners have limited liability
Shareholder Shareholders choose a board of directors to oversee the major policies and decisions in a corp.
Management Getting people to work together to reach an organizations goal and objective. Includes planning organizing directing and etc
Created by: Lisandro
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