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Important_Things_to_Remember - Stockholders • Remember...

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Important Things to Remember Chapter 4 The definition of ethics and how it is different from legality (pg 90). Ethics begins with each of us (pg 91). Know the questions you should ask yourself when faced with an ethical dilemma (pg 92). Know the two major categories (codes) of establishing corporate ethical standards (pg 96). Review and study items 1, 2, 3, and 4 in the Summary on pages 110 and 111. Chapter 5 List and describe the basic forms of business ownership (pg 118). Know the advantages and disadvantages of a sole proprietorship, a partnership, and a corporation (pg 199-128). Know the difference between a general partner and a limited partner (pg 121). Know that the owners of a corporation are called
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Unformatted text preview: Stockholders! • Remember that it is important to seek out the help of a lawyer in drawing up a Partnership Agreement when forming a partnership. Chapter 6 • Know why people take the entrepreneurial challenge (pg 151). • Know what it takes to be an entrepreneur (pg 151). • Understand the importance of small businesses to our economy (pg 161). • Know the reasons small businesses fail (162). • What do you do if you do not have sufficient knowledge to start a business (pg 163)? • Know the important steps in managing a small business (pg 165). • Understand what a Business Plan is and how to write one (pg 165-166). • Where can you go to get help in starting a business (pg 168)?...
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