PBM - 2nd Semester Final

A business plan is a written description of a new business venture that describes all _________ of the business.

• Aspects
• Goals
• Products
• Strategies

Company values and beliefs are established in the ______________.

• executive summary
• mission statement
• organizational plan
• vision statement

A contractual agreement to use the name and sell the products or services of a company in a designated geographic area is called a ___________.

• cooperative
• charter
• franchise
• Partnership

The easiest way to organize a business is as a ____________.

• cooperative
• corporation
• partnership
• sole proprietorship

A business that turns raw materials into finished goods is called a ________.

• Manufacturer
• Producer
• Processor
• Wholesaler

A company that gathers materials in their original state from natural resources is called a _________.

• Procurer
• Producer
• Processor
• Wholesaler

_________is a term that is used to refer to the people who are in charge of running business.

• Management
• Officers
• Principals
• Stakeholders

Controlling, leading, organizing, and planning are the four _________ of management.

• characteristics
• cornerstones
• functions
• Objectives

A firm that has a centralized organization concentrates authority with __________.

• individual contributors
• line managers
• middle managers
• top managers

Many managers begin their career in a(n) __________.

• entry-level job
• staff position
• manager training program
• minimum-wage job