A business’s mission statement that states its philosophy.

An elected member on the board of directors. They are responsible for policy but do not have to be a share holder or employee. The decisions made are based on meetings and

The law that a company runs itself by. It is the standards and how they reach their goals.

A firm without shares whose members take on the responsibility when the company fails.

The legal name of a firm. It is on all the documents and payment that are made to the company. AKA corporate name.

The employees first experience in the new job. They are taught history, values, and goals for their new place of employment. They are also educated about the market and products offered. Rules

A description of the firms history, resources, structure, performance, and reputation.

The risk that occurs due to the operation process due to both internal and external factors. The risks must be covered by the investors.

A stamp or embossed emblem that represents the company and its legal name. It shows authorization and can be made of rubber or metal.

An officer that the directors appoint to handle legal issues and legislation. They must set up meetings, record minutes, keep records, make payments, and draft contracts. This is the officer that does

The legal power that stock holders have in relation to the amount of shares they own. You must have 15% or more to have legal rights. 50% or more allows you to

A union that is fake. The employer can prevent the organization of a real union. AKA house union.

Placing value of one item based on how another performs.

Taking two or more products and placing them side by side. If they are common enough they will be considered comparable.

The idea that jobs that need an employee to have the same skill set should be paid the same.

The idea that a country should make products that can be made cheaply and efficiently. Each country has its own special assets and resources that can benefit their trade partners.

Comparing item by item with the alternates. Reefr to comparability analysis.

Estimating cost based on how much the previous job cost to complete.

The formatting for a balance sheet that shows each item for the current and last period. They are dollar amounts or percentages. Refer to common size financial statement.

Taking two or more risks and placing them on a scale with quantitative analysis and qualitiative analysis to see which is greater.