5.2 Business Organizations By: Dylan Dow 3 rd Period 3/6/09

Corporation A corporation is a legal entity separate from the persons that form it., it is also owned by stockholders. In British tradition it is the term designating a body corporate, where it can be either a corporation sole (an office held by an individual natural person, which is a legal entity separate from that person) or a corporation aggregate (involving more persons). One example of a corporation would be Harvard College, the oldest corporation in the western hemisphere. Closely held corporations do have some advantages over publicly traded corporations If they are not closely held, then they can be at a disadvantage.

A corporation is a legal entity separate from the persons that form it., it is also owned by stockholders. In British tradition it is the term designating a body corporate, where it can be either a corporation sole (an office held by an individual natural person, which is a legal entity separate from that person) or a corporation aggregate (involving more persons).

One example of a corporation would be Harvard College, the oldest corporation in the western hemisphere.

Closely held corporations do have some advantages over publicly traded corporations

If they are not closely held, then they can be at a disadvantage.

Franchises Two different Franchises are Dunkin Donuts and McDonalds. One advantage is that the company can gain a lot more money if they expand A disadvantage could be that the company could lose a lot of money investing in the franchises.

Two different Franchises are Dunkin Donuts and McDonalds.

One advantage is that the company can gain a lot more money if they expand

A disadvantage could be that the company could lose a lot of money investing in the franchises.

Mission Statement A mission statement declaration of the general objectives and principles of operation of an organization Google's mission is to organize the world's information and make it universally accessible and useful.

A mission statement declaration of the general objectives and principles of operation of an organization

Google's mission is to organize the world's information and make it universally accessible and useful.

Short Term & Long Term Goals Setting short term and long term goals will give your employees a deadline on when they need to have their work done. It will also give them the opportunity to feel better when they succeed in those goals.

Setting short term and long term goals will give your employees a deadline on when they need to have their work done. It will also give them the opportunity to feel better when they succeed in those goals.

Common Company Procedures Procedures are descriptions of the way work is to be done. Responsibility, Authority, and Accountability are three that are common in schools.

Procedures are descriptions of the way work is to be done.

Responsibility, Authority, and Accountability are three that are common in schools.

Organization Chart An organization chart is a diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications.

An organization chart is a diagram that shows the structure of an organization, classifications of work and jobs, and the relationships among those classifications.

Organizational Charts #2 In a Functional Organizational Structure work is arranged within main business functions such as production, operations, marketing, and human resources. In a matrix organizational structure work is structured around specific projects, products, or customer groups.

In a Functional Organizational Structure work is arranged within main business functions such as production, operations, marketing, and human resources.

In a matrix organizational structure work is structured around specific projects, products, or customer groups.