| A | B |
|---|
| A written legal document that identifies ownership and operating procedures and conditions for the business. | articles of incorporation |
| One who has no explicit or implicit contract for long-term employment. | contingent worker |
| A separate legal entity, formed by documents filed with the state, which is owned by one or more shareholders and managed by a board of directors. | corporation |
| A written contract granting permission to operate a business to sell products and services in a prescribed way. | franchise |
| specific statement of results the business expects to achieve. | goal |
| Businesses involved in selling the goods and services of producers to consumers and other businesses. | intermediaries |
| A short, specific written statement of the reason a business exists and what it wants to accomplish. | mission statement |
| A diagram that shows the structure of an organization, classifications of jobs, and the relationships among those classifications. | organization chart |
| A business owned and controlled by two or more people who have entered into a written agreement. | partnership |
| A written agreement among all owners that specifies the rules and procedures that guide ownership and operations. | partnership agreement |
| A business owned and controlled by just one person. | proprietorship |
| Guidelines used in making consistent decisions. | policies |
| Descriptions of the way work is to be done. | procedures |
| Businesses that complete activities that are consumed by customers rather than offering products for sale. | service business |
| A declaration of a company's goals for the midterm or long-term future; ranges from one line to several paragraphs, identifies what the company would like to achieve or accomplish. | vision statement |
