Business Key words 0.0 / 5 ? Business StudiesPeople in businessGCSEOCR Created by: PascaleCreated on: 08-04-14 09:58 PLC Public limited company Limited liability. Sells its shares on the stock exchange 1 of 7 LTD Private limited company Unlimited liability. Private shareholders 2 of 7 Franchise Selling the rights to use a successful business e.g. Mac Donolds. 3 of 7 Dividends A percentage of profits received annually 4 of 7 Piece rate Get paid for each item the worker makes/produces 5 of 7 Tall structure-flat structure Tall structure has a lots of layers within the hierarchy whereas flat structure doesn't 6 of 7 Vertical communication Communication between different layers of the hierarchy. 7 of 7
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