Bud Belz midterm 2/2 – Flashcards
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The form of business ownership that is least subject to legal red tape is ___. (CH5)
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Sole Proprietorship
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A ___ joins firms in the same industry that wish to diversify, increase their customer base, cut costs, or offer expanded product lines. (CH5)
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Horizontal Merger
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The form of business ownership that establishes the firm as a separate legal entity is the ___. (CH5)
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Corporation
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A ___ combines firms operating at different levels in the production and marketing process. (CH5)
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Vertical Merger
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A ___ business consists of owners who join forces to collectively operate all or part of the functions in their industry. (CH5)
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Cooperative
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During a ___, two or more firms combine to form one company. (CH5)
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Merger
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A ___ occurs when one firm purchases the property and assumes the obligations of another firm. (CH5)
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Acquisition
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A merger of firms in unrelated industries is called a ___. (CH5)
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Conglomerate Merger
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A ___ is independently owned and operated, and is responsible for more than half of the nation's gross domestic product. (CH5)
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Small Business
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A ___ is a type of business ownership formed in one country but that operates in another country. (CH5)
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Alien Corporation
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___ is a contractual agreement that specifies the methods by which a dealer can produce and market a supplier's good or services. (CH5)
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Franchising
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Having a ___ improves the chances of success for a new business by providing an orderly statement of a company's goals. (CH5)
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Business Plan
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Owners of ___ have limited voting rights, but are entitled to the earliest dividends. (CH5)
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Preferred Stock
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Small start-up ventures looking for low-cost shared facilities can utilize ___, offered by local community agencies. (CH5)
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Business incubators
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The significant increase of international marketing and sales by entrepreneurs is a result of ___. (CH6)
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Globalization
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___ is the initial funding needed to launch a new venture. (CH6)
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Seed Capital
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A person who identifies a business opportunity and allocates available resources to tap that market is a ___. (CH6)
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Classic Entrepreneur
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A ___ is an individual who lends money to new ventures in exchange for an equity stake. (CH6)
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Angel Investor
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A ___ recognizes a societal problem and uses business principles to develop innovative solutions. (CH6)
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Social Entrepreneur
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A ___ starts a business to gain flexibility in work hours and control over his or her life. (CH6)
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Lifestyle Entrepreneur
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To secure ___, entrepreneurs borrow money from banks, finance companies, credit card companies, and family and friends. (CH6)
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Debt Financing
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___ refers to the characteristics of entrepreneurs believing that they control their own destiny. (CH6)
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Internal locus of Control
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___ are business firms or groups of individuals who invest in new and growing firms. (CH6)
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Venture Capitalist
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A ___ is a rural area or an area that has experienced an unemployment rate of at least 150 percent of the national average. (CH6)
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Targeted Employment Area
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___ helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales, and project professional images. (CH6)
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Information Technology
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A ___ program consists of company-initiated projects that focus on a few products and technologies in which the firm sees potential for rapid marketplace winners. (CH6)
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Pacing
