Business Management Concepts

Front

Planning

Back

the most basic of all managerial functions which involves establishing goals, setting out objectives and defining the methods by which these goals and objectives are to be attained

Front

means “owner”

Back

Proprietor

Front

Sole Proprietorship

Partner Proprietorship

Community Proprietorship

Back

Types of Proprietorship:

Front

a business owned by one person

- the oldest and most common form of business ownership

- mostly small-business operations

Back

Sole proprietorship

Front

business owned by two or more persons

- co-owners agree voluntarily to operate the business for profit

Back

Partnership

Front

- is a business partner who has decision-making authority

Back

General Partner

Front

- is a business partner who has decision-making authority

Back

Limited Partner

Front

a business organization that operates as a legal entity that is separate from its owners and is treated by the law as if it were an individual person

Back

Corporation

Front

meaning one who individually or with partners is in control of monetary and operational decision-making, we are talking about a true sense of ownership

- has ultimate control over the company and decides what to delegate and to whom

Back

Business Owner

Front

is accumulated assets or ownership - in the form of assets (thing of value

Back

Capital