Forms of Business and Objectives

?
Aims
what a business tries to achieve in the long term
1 of 30
Articles of Association
a document that provides details of the internal running of a limited company
2 of 30
Certificate of Incorporation
a document that declares a business is allowed to trade as a limited company
3 of 30
Choices
in business, deciding between alternative uses of resources
4 of 30
Co-operative
`a business organisation owned by its members, who have equal voting rights
5 of 30
Deed of Partnership
a binging legal document that states the formal rights of partners
6 of 30
Franchise
a business model in which the franchisor allows another operator to trad under their name
7 of 30
Lifestyles Business
a business that aims to make enough and provide the flexibility needed to support a particular lifestyle for the owner
8 of 30
Limited Company
a business organisation that has a separate legal entity form that of its owner
9 of 30
Limited Liability
a legal status which means that a business owner is only liable for the original amount of money invested in the business
10 of 30
Limited Partnership
a partnership where some members contribute capital and enjoy a share of the profit, but do not participate in the running of the business. At least one partner must have unlimited liability
11 of 30
Memorandum of Association
a document sets out the constitution capital and stats key external details about a limited company
12 of 30
Mutual Organisation
a business owned by its members, who are customers not shareholders
13 of 30
Objectives
the goal for targets set by a business to help achieve its long-term purpose
14 of 30
Opportunity Cost
when choosing between different alternatives, the opportunity cost is he benefit lost from the net best alternative to the one that has been chosen
15 of 30
Online Business
a business that uses the global communications infrastructure of the internet as a trading base
16 of 30
Partnership
a business organisation that usually owned by between 2-20 people
17 of 30
Primary Sector
production involving the extraction of raw materials from earth
18 of 30
Private Equity Company
A company usually owned by private individuals backed by finical institutions
19 of 30
Public Limited Company
a company owned by shareholders where the shares can be traded openly on the stock market
20 of 30
Sales Maximisation
an attempt to sell as much as possible over a given period of time (or an attempt to generate as much sales revenue as possible in a given period of time)
21 of 30
Secondary Sector
production involving the conversion of raw materials into finished and semifinished goods
22 of 30
Sleeping Partner
a partner that contributes capital and enjoys a share of the profit but takes no active role in running the business
23 of 30
Social Enterprise
a business that trades with the object of improving human or environmental well-being
24 of 30
Sole Trader or Sole Proprietor
a business organisation which has a single owner
25 of 30
Stock Market
a market for second-hand shares
26 of 30
Stock Market floatation or initial public offering (IPO)
the process of a company "going public"- making shares available to the public for the first time
27 of 30
Tertiary Sector
the production of services in the economy
28 of 30
Trade-Offs
in business, where a decision-maker faces a compromise between two different alternatives: for example, between paying dividends to shareholders and re-investinf profits in a business
29 of 30
Unlimited Liability
a legal status which means that the owner of a business is personally liable for all business debts.
30 of 30

Other cards in this set

Card 2

Front

a document that provides details of the internal running of a limited company

Back

Articles of Association

Card 3

Front

a document that declares a business is allowed to trade as a limited company

Back

Preview of the back of card 3

Card 4

Front

in business, deciding between alternative uses of resources

Back

Preview of the back of card 4

Card 5

Front

`a business organisation owned by its members, who have equal voting rights

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business resources:

See all Business resources »See all Theme 1: Marketing and People resources »