GBUS 160 chapter 5 outline

GBUS 160 chapter 5 outline - Chapter 5 (Pg. 146)Small...

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Chapter 5 (Pg. 146)Small business- a firm that is independently owned and operated and is not dominant in its field. (Pg. 158)Business plan- written document that provides an orderly statement of a company’s goals, the methods by which it intends to achieve these goals, and the standards by which it will measure achievement. (Pg. 158)Small business administration (SBA)- federal agency that considers annual sales and number of employees to identify small businesses for specific industries. Concerned with helping small U.S. firms, and it is the advocate for small businesses within the federal government. (Pg. 160)Business incubator- provides low-cost shared business facilities to small start-up ventures. (Pg.163) Franchising- contractual business arrangement between a manufacturer or another supplier and a dealer. Specifies the methods by which the dealer markets the good or service of the supplier. Franchisee-individual or business firm purchasing the franchise. Franchisor-the small-business owner who contracts to sell the good or service of the supplier. (Pg. 166)Sole proprietorship- most common form of business ownership. The oldest and
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This note was uploaded on 04/07/2008 for the course GBUS 160 taught by Professor Quinn during the Spring '07 term at James Madison University.

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GBUS 160 chapter 5 outline - Chapter 5 (Pg. 146)Small...

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