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Global Business > Test #2 > Flashcards

Test #2 Flashcards

1
Q

Acquisition

A

One company is purchased by another

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2
Q

Articles of Partnership

A

Legal documents that set the basic agreement between partners

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3
Q

Board of Directors

A

A group of individuals, elected by shareholders, to oversee the general operation of a corporation

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4
Q

Common Share

A

Owners have voting rights in the corporation

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5
Q

Cooperative (Co-Op)

A

An organized composed of individuals or businesses that have banded together to reap the benefits of belonging to a larger organization

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6
Q

Crown Corporations

A

Owned and operated by federal, provincial, or local government

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7
Q

Dividends

A

Profits of a corporation

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8
Q

General Partnership

A

Partnership involves sharing in management and liability

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9
Q

Initial Public Offering (IPO)

A

Selling corporation’s shares on public markets for the first time

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10
Q

Joint Venture

A

A partnership made for a specific project or for a limited time

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11
Q

Leveraged Buyout (LBO)

A

Investors borrow money from banks to acquire a company and use the assets of the company to guarantee repayment of the loan

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12
Q

Limited Partnership

A

Has at least one general partner who assumes unlimited liability, and one limited partner whose liability is limited to their investment

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13
Q

Merger

A

Combination of two companies to form a new company

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14
Q

Nonprofit Corporation

A

Focus on providing a service rather than earning profit

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15
Q

Partnership

A

An association of two or more persons who are co-owners of a business

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16
Q

Partnership Agreement

A

Legal agreement that outlines a business relationship

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17
Q

Preferred Shares

A

Type of share where owners have a claim to profits before other shareholders do

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18
Q

Private Corporation

A

Owned by just one or a few people who are closely involved in management of business

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19
Q

Public Corporation

A

Anyone can buy, sell, or trade the shares

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20
Q

Sole Proprietorships

A

Businesses owned by one person (most common form of business in Canada)

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21
Q

Business Plan

A

Step-by-step plan of how business will achieve its goals

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22
Q

Corporation

A

Legal entity with authority to act and have liability separate from its owners

23
Q

Entreprenership

A

Creating and managing a business to achieve goals

24
Q

Franchise

A

License to sell another’s products or to use another’s name in business

25
Q

Franchisee

A

The purchaser of a franchise

26
Q

Franchiser

A

The company that sells a franchise

27
Q

Intrapeneurs

A

Individuals who are responsible for the creation of innovations within an organization

28
Q

Small Business

A

Any independently owned and operated business that does not employ more than 500 people

29
Q

Undercapitalization

A

Lack of funds to operate a business

30
Q

Administrative Managers

A

Manage an entire business and coordinate the activities of specialized managers

31
Q

Conceptual Skills

A

Ability to see how parts fit together to form a whole

32
Q

Controlling

A

Evaluating and correcting activities to keep the organization on course

33
Q

Directing

A

Motivating and leading employees to achieve objectives

34
Q

Downsizing

A

Elimination of a significant number of employees

35
Q

Financial Managers

A

Focus on obtaining the funds needed for the success of an organization

36
Q

First-Line Managers

A

Supervise workers and daily operations

37
Q

Human Relations Skills

A

Ability to deal with people both inside and outside of the organization

38
Q

Human Resources Managers

A

Handle the staffing and deal with employees in a formalized manner

39
Q

Information Technology (IT) Managers

A

Implement, maintain, and control technology applications

40
Q

Leadership

A

Ability to influence employees to work towards a goal

41
Q

Managers

A

Individuals who make decisions about the use of resources

42
Q

Marketing Managers

A

Responsible for planning, pricing, and promoting products

43
Q

Middle Managers

A

Responsible for the tactical planning

44
Q

Operational Plans

A

Very short-term plans that determine what needs to be completed in order to achieve tactical plan

45
Q

Organizing

A

Structuring of resources and activities to accomplish goals

46
Q

Planning

A

Determining the goals and deciding how to accomplish them

47
Q

Production and Operations Managers

A

Develop and administer the activities involved in transforming resources into goods

48
Q

Staffing

A

Hiring of people to work for an organization

49
Q

Strategic Plans

A

Establish long-term objectives

50
Q

Tactical Plans

A

Short-range plans designed to complete goals stated in the strategic plan

51
Q

Technical Expertise

A

Specialized knowledge and training needed to perform jobs

52
Q

Top Managers

A

President and other top executives (CEO, CFO, COO)

53
Q

Three Types of Partnerships

A
  • general
  • limited
  • limited liability (LLP)
54
Q

Three Types of Corporations

A
  • private
  • public
  • initial public offering (IPO)

Global Business (3 decks)

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