Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
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

Chatpers for class

for class

Sole Proprietorship A business that is owned (and usually operated) by one person.
Unlimited Liability A legal concept that holds a business owner personally responsible for all the debts of the business.
Partnership A voluntary association of two or more persons to act as co-owners of a business for profit.
Gereral Partner A person who assumes full or shared responsibility for operating a business.
Limited Partner A person who contributes capital to a business but has no management responsiibility or liability for losses beyond the amount he or she invested in the partnership.
Master limited Parnership (MLP) A business partnership that is owned and managed like a corporation but often tazed like a partnership.
Advantages of Partnership Ease of start up Availability of capital and credit Personal Interest Combined Business Skills and knowledge Retention of Profits No special taxes
Disadvantages of Partnership Unlimited Liability Management Disagreements Lack of continuity Frozen Investment
Small Business One that is independently owned and operated for profit and is not dominant in its field communication management planning
Business Plan A carefully constructed guide for the person starting a business
Small business Administration (SBA) A governmental agency that assists, counsels, and protects the interests of small businesses in the United States
Service Corps of Retired Executives (SCORE) A group of business people who volunteer their services to small business through the SBA
Small-business institutes (SBIs) Groups of senior and graduate students in business administration who provide management counseling to small businesses
Small-business development Centers (SBDCs) university-based groups that provide individual counseling and practical training to owners of small businesses
3 types franchise Retail (oldest) License (CocaCola) Service (McDonalds)
Venture Capital Money that is invested in a small (and sometimes struggling) firms that have the potential to become very successful
Small-business investment companies (SBICs) Privately owned firms that provide venture capital to small enterprises that meet their investment standards.
Franchise A license to operate an individually owned business as though it were part of a chain outlets or stores.
Franchising the actual granting of a frinchise
Franchisor An individual or organization granting a franchise.
Franchisor An individual or organization granting a franchise.
Frannchisee A person or organization purchasing a franchise
Materal Resources Human Resources Finalial Resources Informational
Materal Resources Human Resources Finalial Resources Informational
Management the process of coovdinating people and other resources to achieve the goals of an orgainization
Management the process of coovdinating people and other resources to achieve the goals of an orgainization
Planning Establishing organizational goals and deciding how to accomplish them
Planning Establishing organizational goals and deciding how to accomplish them
Strategie planning The process of establishing an organization's major goals and objectives and allocating the resources to achieve them.
Mission A statement of the basic purpose that makes an organization different from others
Strategie planning The process of establishing an organization's major goals and objectives and allocating the resources to achieve them.
Goal an end result that an organization is expected to achieve over a one to ten year period
Objective A specific staement detailing what an organization intends to accomplish over a shorter period of time
Plan An outline of the actions by which an organization intends to accomplish its goals and objectives
Strategic Plan An organization's broadest plan, developed as a guide for major policy setting and decision making
Tactical Plan A smaler-scale plan developed to implement a strategy.
Operational Plan A type of plan designed to implement tactical plan
Contingency plan A plan that outlines alternative courses of action that may be taken if an organizations other plans are disrupted of become ineffective
Organizing the grouping of resources and activities to accomplish some end result in an efficient and effective manner
Leading the process of influencing people to work toward a common goal
Motivating the process of providing reasons for people to work
Experience Manager Has the expertiece in their field
Directing the combined process of leading and motivating
Controlling the process of evaluating and regulating on going activies to ensure that goals are achieved.
Top Manager an upper-level excutive who guides and controls the overall fortunes of organization
Middle Manager A manager who implement the strategy and major policies developed by top management
First-line Manager A manager who coordinates and supervises the activities of opening employees
Financial Manager A manager who is primarily responsible for an organizations financial resources.
Operation manager A manager who manages the systems that convert resources into good and services
Marketing Manager A manager who is responsible for facilisating the exchange of products between an organization and its customers or clients
Human resources Manager a person charged with managing an organizations human resources programs
Administrative Manager A manager who is not associated with any specific functional area but who provides overall administrative guidance and leadership
Technical Skill A specific skill needed to accomplish a specialixed activity
Conceptual skill the ability to think is abstract terms
Interpersnal skill the ability to deal effectively with other people
Decisional Role a role that involves various aspects of management decision making
Interpersonal Role a role in which the manager deals with people
Informational Role A role in which the manager either gathers or provides information
Leadership the ability to influence others
Authoritarian Leader One who holds all authority and responsibility with communication usually moving from top to bottom
Laissez-faire leader One who gives authority to employees and allows subordiantes to work as they choose with minimum of interference communication flows horizontally among group members
Demoncratic Leader one who holds final responsibility but also delegates authority to others who help to determine work assignment; communication is active upward and downward
Decision Making the act of choosing one alternatives from a set of alternatives
Three types of small Industries Distribution Ind. Service Ind. Production Ind.
Problem The discrepance between an actual condition and a desiced condition
Total Quality amanagement (TQM) the coordiration of efforts directed at improving customer satisfaction, increasing employee participation, strengthering supplier partnerships, and facilitating an organizational atmosphere of continuous quality improvement
Created by: Toria1253



Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards