Chapter 5 Overview
This chapter begins by focusing on small-business ownership, including the advantages and disadvantages of small-business ventures, and the contributions of small business to the economy. Franchising and global opportunities for small-business owners are also covered. An overview of the three forms of private business ownership—sole proprietorships, partnerships, and corporations is also discussed. Next, the structures and operations typical of larger companies are explored, followed by a review of mergers, acquisitions, and joint ventures.
Learning Objectives
- Distinguish between small and large businesses.
- Discuss the contributions of small businesses to the economy.
- Describe the features of an effective business plan.
- Explain how franchising can provide opportunities for both franchisors and franchisees.
- Outline the three main legal forms of business ownership.
- Identify types of corporations and the levels of corporate management.
- Describe mergers, acquisitions, and joint ventures.
This chapter begins by focusing on small-business ownership, including the advantages and disadvantages of small-business ventures, and the contributions of small business to the economy. Franchising and global opportunities for small-business owners are also covered. An overview of the three forms of private business ownership—sole proprietorships, partnerships, and corporations is also discussed. Next, the structures and operations typical of larger companies are explored, followed by a review of mergers, acquisitions, and joint ventures.
Learning Objectives
- Distinguish between small and large businesses.
- Discuss the contributions of small businesses to the economy.
- Describe the features of an effective business plan.
- Explain how franchising can provide opportunities for both franchisors and franchisees.
- Outline the three main legal forms of business ownership.
- Identify types of corporations and the levels of corporate management.
- Describe mergers, acquisitions, and joint ventures.
LECTURE SLIDES OF CHAPTER 5
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