Ch 5 Pp 2

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Ch 5 Pp 2

  1. 1. By: Heath Barnacascel Principles of Business Period 3
  2. 2. Corporation <ul><li>A corporation is a legal entity separate from the persons that form it </li></ul><ul><li>It is a legal entity owned by individual stockholders </li></ul><ul><li>An example of a Corporation is DELL </li></ul>
  3. 3. Franchise <ul><li>an authorization to sell a company's goods or services in a particular place </li></ul><ul><li>Subway is the #1 franchise </li></ul><ul><li>McDonalds is the #2 franchise </li></ul><ul><li>An advantage of a franchise is that it can be a restaurant or some other popular business </li></ul>
  4. 4. Mission Statement <ul><li>The mission statement of a company states what they plan to do to change the place they are located or the economy </li></ul><ul><li>Google's mission is to organize the world's information and make it universally accessible and useful </li></ul>
  5. 5. Goals <ul><li>It is important to set short term goals so that you can achieve the things that you plan to do in the next couple of months </li></ul><ul><li>Some people use Short term goals to achieve long term goals </li></ul><ul><li>Long term goals are important to set so that you can push to accomplish something in the next couple of years </li></ul>
  6. 6. Company Procedures <ul><li>A common Company Procedure is a procedure that a company would do commonly or most every day </li></ul><ul><li>A fire drill at school </li></ul><ul><li>A tornado drill at school </li></ul><ul><li>The way you walk to lunch </li></ul>
  7. 7. Organization Chart <ul><li>An organizational chart is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs </li></ul><ul><li>An example of an Organization chart at my house is a Calendar </li></ul>

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