Business Types & Characteristics Retake Max 80

Maslow’s Hierarchy of Needs is the

• pyramid expressing the needs of people in levels: basic needs, safety, belongingness, love, esteem and self-actualization

• process of effectively working together in group settings

The Human Resources Department is...

• responsible for maintaining the employment process, training and developing staff and following laws and proper procedures

• responsible for recording, classifying, summarizing and reporting the financial position of a business

Non-profit organizations are...

• businesses which move finished goods from one business to another by buying, storing and reselling goods; often referred to as “middlemen”

• businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit

A business owned and operated by one individual is 

• Corporation

• Sole Proprietorship

Loans are

• amounts of money borrowed which will accumulate interest

• amounts of money made from work you do

• amounts of money that are not required to be paid back

The following are considered to be soft skills EXCEPT

• Leadership

• Teamwork

• Communication

• Physical Strength

The following are examples of Corporations except

• Nike

• Apple

• Kerr Middle School

The Finance department is

• responsible for creating products which meet consumer wants and needs, guiding products through the product life cycle

• responsible for managing the use of company funds, obtaining needed funds and creating a financial plan

• responsible for handling the social media and marketing plan