Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Business
| Question | Answer |
|---|---|
| Small Business | One that is independently owned and operated for profit and is not dominant in its field |
| Advantages to Small Business | Personal relations, ability to adapt to change, Independence |
| Disadvantages to Small Business | Risk of failure, limited potential, limited ability to raise capital |
| Contributions small business makes to the economy | Providing technical innovation, providing employment, providing competition, filling needs |
| Money that is invested in small (and sometimes struggling) firms that have potential to become successful | Venture Capital |
| What is SBA | Small Business Administration, Government agency that assists, counsels, and protects the interests of small business in the United States |
| What are the two types of mergers | Horizontal: similar products/ similar markets Vertical: operate at different but related production |
| SCORE | Service Corps of Retired Executives: group of business people who volunteer their services to small businesses through SBA |
| When management and board of directors of a firm targeted for acquisition disapprove of a merger | Hostile Takeover |
| A study of right and wrong in the choices individuals make? (acceptable and ethical behavior) | Code of Ethics |
| What is the law of protecting employees who report corporate misconduct | Sarbanes-Oxley Act |
| Guide to acceptable and ethical behavior as defined by the organization | Code of Ethics |
| Informing the press or government officials about unethical practices within one's organization | Whistle Blowing |
| What is social responsibility | Recognition that business activities have an impact on society and the consideration of that impact in business decision making |
| 3 examples of social responsibility | Clean Energy, donate to the community, donate to charity |
| A market economy is referred to as | Free Market |
| Capitalism | Individuals own and operate the majority of business that provide goods and services (USA) |
| Communism | gov. owns everything (North Korea) |
| Socialist | Collective governmental ownership and administration of the means of production and distribution of goods (Ireland) |
| What are the four factors of production | Land,Labor, Capital, Entrepreneurship |
| Person who risks time and effort | Entrepreneur |
| What is the contamination of land, water, and air | Pollution |
| Business owned and operated by one person | Sole proprietorship |
| Gov. agency that provides ownership for minority own business | SBA |
| License to operate an individually owned business as though it were part of a chain of outlets or stores | Franchise |
| What is the Federal Reserve and who is in charge | Janet Yellen, central banking of the United States, Regulate interest rates |
| 3 rights a franchise has | use of trademarks, use of brand image, use of secret methods |
| 3 obligations a franchise has | observe minimum operating house, pay franchise fee, follow the accounting system |
| University based groups that provide individual counseling and practical training to owners of small business | SBDC's, Small Business Development Centers |
Created by:
sjohnson32