Ch. 5 Vocab Intro to Business

Front

Businesses that provide services consumed by customers

Back

service business

Front

Descriptions of how work is done

Back

Procedures

Front

Guidelines for consistent decisions.

Back

policies

Front

A business owned and controlled by one person.

Back

proprietorship

Front

Written agreement among owners specifying rules for ownership and operations.

Back

Partnership agreement

Front

A business owned by two or more people with a written agreement.

Back

partnership

Front

Diagram showing organizational structure, job classifications, and relationships.

Back

organization chart

Front

A concise statement of a business's purpose and goals.

Back

mission statement

Front

Businesses selling goods/services of producers to consumers and other businesses.

Back

intermediaries

Front

Result statement the business expects to achieve.

Back

goal