legal aspects of business the ‘plan’ vocabulary characteristics marketing 20 points 30 points 40...
TRANSCRIPT
Legal Aspects
of BusinessThe ‘Plan’ Vocabulary Characteristics Marketing
20 Points
30 Points
40 Points
50 Points
20 Points 20 Points 20 Points 20 Points20 Points
30 Points
40 Points
50 Points
30 Points 30 Points 30 Points 30 Points
40 Points 40 Points 40 Points 40 Points
50 Points 50 Points 50 Points 50 Points
What is an economy
He appointed judges to
settle disputes
10 PointKnowing why Fred and Bill came home
late
10 PointKing Hussein
of Jordan stayed home10 Point
Stock purchase 24
ATT stocks 10 Point
An Accountant after 4/15
10 PointHuman
bait10 Point
A business owned by a single individual
Sole Proprietorship
The biggest benefit is a shield
from personal liability
Corporation
The corporation lives on even if the
president dies
Perpetual existence
LLC or limited liability companyLike a corporation
except fewer reporting requirements and
formalities
The sole rights consist of sharing in
the profits
Limited Partnership
It describes the purpose of the
company
Mission statement
Ownership and legal structure are
found in this section
Introduction
This section includes the mission statement
and is rewritten in the end
Executive Summary
A clear description of the industry appears here
Marketing section
The type of business would be
found here
Introduction or Company
Description
Limited resources describe this
scarcity
In this economy, government determines
what and how to sell goods
Command economy
In this economy, people decide what goods and services are produced
Market economy
The level of output from each worker
productivity
1d
These forces control the market
Supply and demand
They produce 13 times more patents per
employee than large patenting firms
Entrepreneurs
2d
A business owned by two or more people
Partnership
4d
Owners of a corporation
stockholders
A company that does not offer its shares of stock for public sale
Close corporation
A type of business based on reselling a product
Wholesaling
1e
Of the five characteristics of
entrepreneurs-the most important attribute
is…
drive
3e
This characteristic includes creativity and
analytical abilities
Thinking ability
3e
The aptitude toward human relations translates into…
Ability to motivate others
Entrepreneurs must be able to evaluate
competition and make decisions. This skill is…
Management
4e
Biggest disadvantage of
being an entrepreneur
Could lose all your money-risk
You basically are delivering the product
selling
Of the 4 P’s of Marketing, with this one, you are
advertising
Promotion
With this “P” Rte. 11-15 might
be crucial
Place (location)
I want everyone to recognize my business
logo
Packaging is what part of the Marketing mix?
Promotion
HOW to sell your product, such as through brochures or in community groups, is
called …
Marketing Strategy
Make your wager
Final Answer