Principles of Business, Unit 2: Chapter 5

This list focuses on business organization (Unit 2, Chapter 5).

Here are links to all the chapters of Unit 2, Business Organization and Management: Chapter 5, Chapter 6, Chapter 7, Chapter 8, Chapter 9

Here are links to all the units of the business textbook published by South-Western Cengage Learning: Unit 1, Unit 2, Unit 3, Unit 4
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Full list of words from this list:

words only definitions & notes
  1. executive
    a person responsible for the administration of a business
  2. contingent
    determined by conditions or circumstances that follow
  3. intermediary
    a negotiator who acts as a link between parties
  4. provider
    a person or business that supplies a service or commodity
  5. proprietor
    someone who owns a business
  6. partnership
    a contract between persons who agree to share profits
  7. agreement
    the statement (oral or written) of an exchange of promises
  8. corporation
    a business firm recognized by law as a single body
  9. incorporation
    the consolidation of two or more things
  10. article
    a separate section of a legal document
  11. franchise
    an authorization to sell a company's goods or services
  12. mission
    a special assignment that is given to a person or group
  13. goal
    the state of affairs that a plan is intended to achieve
  14. policy
    a plan of action adopted by an individual or social group
  15. procedure
    a particular course of action intended to achieve a result
  16. organization
    a planned structure for arranging or classifying
  17. chart
    a visual display of data or information
  18. delegate
    give an assignment to or assign a task to
  19. accountable
    responsible for one's actions
  20. flexibility
    the quality of being adaptable or variable
  21. generate
    produce, as energy
  22. personnel
    the department responsible for hiring and training employees
  23. entity
    that which is perceived to have its own distinct existence
  24. specialized
    developed or designed for a particular activity or function
  25. license
    a legal document giving official permission to do something
  26. permit
    a legal document giving official license to do something
  27. authority
    the power or right to give orders or make decisions
  28. cooperative
    a jointly owned commercial enterprise
  29. unity
    an undivided or unbroken completeness with nothing wanting
  30. dissolve
    stop functioning or cohering as a unit
Created on October 20, 2016 (updated October 27, 2016)

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