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ap business unit 1B
| Question | Answer |
|---|---|
| core values | beliefs, principles |
| core competencies | strengths, skills |
| vision statement | long term |
| mission statement | now/short term |
| sole proprietorship | single owner |
| partnership | 2+ owners |
| limited liability coporation (LLC) | many members, manager, 1 taxation |
| corporation | shareholders, board/ceo's, 2 taxation, more laws |
| Unlimited liability | Personal responsibility for business debts and obligations |
| order of supply chain | raw materials --> manufacturing --> transportation --> retail --> customer/consumer |