Technology
Chapter 32 Organizing a Technological Enterprise
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Initiating the work related to an
action plan.
actuating
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An application for a corporate
charter.
articles of incorporation
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The right to direct actions.
authority
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board of directors
A group of people elected
to represent the interests of
stockholders.
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Debt securities sold by corporations
in large denominations.
bonds
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General rules under which an
incorporated company will operate.
bylaws
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The top manager in a company.
chief executive officer (CEO)
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controlling
The function of comparing system
outputs to the goals.
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An operating permit.
corporate charter
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A legal entity people form to own
an operation. It is a business in
which investors have purchased
partial ownership in the form of
shares of stock.
corporation
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Raising money by borrowing
money from a financial institution
or private investors.
debt financing
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dividend
A periodic payment to stockholders
from a company’s profits.
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People with very special talents who
look beyond present practices and
products and create businesses.
entrepreneurs
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Searching for opportunities for
change and responding to them.
entrepreneurship
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Raising money by selling a portion
of ownership in a company.
equity financing
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inside directors
Top managers of a company who
serve on the company’s board of
directors.
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The application of entrepreneurial
spirit and action within an existing
company structure.
intrapreneurship
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The feature of a corporation
that limits an owner’s loss, if the
company fails, to the amount of
money he or she had invested.
limited liability
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The act of planning, directing, and
evaluating any activity.
management
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middle management
The level of management below
the president and vice presidents
of a company, but above operating
management.
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The managers closest to the people
producing a company’s products
and services.
operating management
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A function that involves dividing
tasks into major segments and
structuring a work force so goals
can be met and resources can be
assigned to complete each task.
organizing
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People outside of the managerial
structure who are selected to serve
on a company’s board of directors.
They provide a different view of the
company’s operation.
outside directors
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owners
Individuals who have final authority
over company activities.
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A form of private ownership in
which businesses are owned and
operated by two or more people.
partnership
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The process of setting goals and
developing courses of action for a
company or parts of the company
to reach the goals.
planning
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The top manager in a company.
president
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prime interest rate
The low interest rate banks and
insurance companies charge their
safest customers.
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Enterprises owned by individuals or
groups of people.
private enterprises
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A type of business ownership in
which the business has a single
owner.
proprietorship
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Enterprises controlled by the
government or a special form
of corporation.
public enterprises
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Accountability for actions.
responsibility
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Something received for some
service or attainment.
rewards
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Possibilities of loss.
risks
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A portion of the ownership of a
company.
share of stock
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supervisors
The managers closest to the people
producing a company’s products
and services.
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Presidents and vice presidents.
top management
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A disadvantage in which a
proprietor cannot separate
business income and liabilities
from his personal finances.
unlimited liability
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Managers who report to the
president or CEO of a company.
vice presidents
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