Lesson 1 Flashcards
can be for-profit or non-profit enterprises dedicated to
a charity goal or a social caus
Business
an organization or entrepreneurial entity engaging in commercial, industrial, or professional activity
Business
is a type of self-regulation of a business that aims to contribute to
societal goals in the best interests of the environment and society as a whole.
Social Responsibility
the study of proper company rules and procedures on potentially
contentious matters such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities
Business Ethics
is a system of moral principles that govern how people make decisions and lead their lives.
Ethics
one person; the simplest, and the most common form of
business organization own a form of business. It is not separate from the owner. The business and the owner are inseparable.
SOLE PROPRIETORSHIP
In SOLE PROPRIETORSHIP the owner is called a
proprietor/proprietress
Profits are divided among partners based on their agreed sharing.
PARTNERSHIP
In PARTNERSHIP the owner is called a
partner
a form of business owned by two or more persons. The details of
the arrangement between the partners are outlined in a written document called articles of partnership.
PARTNERSHIP
an enterprise chartered by law with most of the legal rights of a
person including to conduct a business, own and sell property, borrow money, sue,
and be sued.
Corporation
is a business organization that has a separate legal personality from its owners.
corporation
represent ownership in a stock
corporation.
Shares of stock
is a duly registered association of persons with a common bond
of, voluntarily joining to achieve their social, economic, and cultural needs.
COOPERATIVE
How many persons manage cooperative?
15 persons or more
