Business Management 2019

Front

Operational planning is planning that is

Back

Short-term planning

Front

A formal summary of a businesses goals and values is a

Back

Mission statement

Front

What is a business plan?

Back

A document that defines a businesses strategies.

Front

Strategic planning is

Back

Long term planning

Front

What business type has full liability? Options: Sole Proprietorship, Partnership, LLC, Corporations

Back

Sole Proprietorship

Front

Which business type is the easiest and commonly formed? Options: Sole proprietorship, Partnership, Corporation, LLC

Back

Sole proprietorship

Front

What is an advantage for centralized organizations?

Back

Clear chain of command

Front

Owners of stocks are called what?

Back

Shareholders

Front

When a business has made enough money to pay its costs and begin to make a profit, it has reached its

Back

break-even point

Front

Which function of management requires an organization chart and sets up the framework needed for staffing?

Back

organizing