Final Ch 6-8, 10 Bus 100 Intro To Business

Front 1

An entrepreneur _____

Back 1

Accepts the risk of starting a business

Front 2

One way an intrapreneur differs from an entrepreneur is that entrepreneurs ______

Back 2

Work within existing corporations while entrepreneurs assume the risks of starting their own business.

Front 3

When looking at the advantages and disadvantages of starting various types of businesses, it appears that _____

Back 3

Businesses that offer a chance for high profits tend to be difficult to start and hard to keep going

Front 4

Research about people who start their own business reveals that _____

Back 4

many small business owners got their entrepreneurial idea from a previous job they had.

Front 5

What advice would an experienced entrepreneur most likely give someone who is thinking of starting their own business?

Back 5

Even small businesses must keep accurate records

Front 6

Tim needs a new roof and called well known roofing companies as well as a smaller firm. Although all firms agreed to bid on the project, the smaller firm won the business. All were competitively priced but the smaller firm spent several hours with Tim to make sure he got what he wanted and promised to do the job in 2 days. One of the greatest advantages small businesses have is _____.

Back 6

The ability to know their customers better and adapt quickly to changing needs

Front 7

When seeking a loan from a bank, an entrepreneur hoping to start a new business should realize that bankers will ______

Back 7

expect the entrepreneur to have a well prepared business plan

Front 8

When Marco decided to start his own business to improve the availability of sports activities for young boys in his community, a friend told him of _______, a possible source of funds for lower-income communities. These organizations often assist their clients with marketing advice too.

Back 8

Community Development Financial Institutions

Front 9

One of the first sources of help that Eric sought when he began to plan for his import business was _____. This organization boasts over 10,000 volunteers that span industries, trade associations, and educational institutions. The Small Business Administration connected him with a member that fit well with the type of business he planned to start

Back 9

SCORE Service Corps of Retired Executives

Front 10

Luis is a partner in a firm that specializes in producing vitamins and health food products. Small by US standards, Luis is attempting to persuade his partner to expand internationally. He would list _____ as an advantage of going international.

Back 10

Exporting can absorb excess inventory

Front 11

Today's progressive managers _____

Back 11

Emphasize teamwork and cooperation rather than discipline and order-giving

Front 12

Finding the resources workers need to provide faster and better customer service is part of the _____ function of management

Back 12

Organizing

Front 13

When managers identify a market trend that suggests a new opportunity, and then devise a strategy to go after this new opportunity, they are _____,

Back 13

planning

Front 14

The _____analysis is a tool used in the planning process that helps companies assess changes in external environments as well as strengths and weaknesses

Back 14

SWOT

Front 15

Engineers at New Generations Computer Company provided three design approaches to a new keyboard they were planning to produce and sell. Designers got together and used a problem solving approach called _____, in which they analyzed each approach and the advantages, disadvantages, and implications to finalize their selection

Back 15

PMI

Front 16

Ed Flavorman believes that alternative plans are almost as important as preliminary plans because the market is so competitive. Ed endorses ____ planning

Back 16

Contigency

Front 17

As David progressed in his career from a territory sales manager, to a regional sales manager, to the director of sales, he found that he utilized more _____ skills, and less ____ skills

Back 17

Conceptual

Technical

Front 18

Which of the following statements about effective leadership is the most accurate?
a)Most effective leaders share certain traits
b) The most effective leadership depends on who is being led and the situation that presents itself

Back 18

B) The most effective leadership style depends on who is being led and the situation that presents itself

Front 19

At Livwell Pharmaceuticals, researchers know that the company's objective is to develop three new cancer fighting medicines, but they are able to work on their own to develop these new drugs. Managers at Livwell practice _____ leadership

Back 19

Free-rein

Front 20

Bing spent several hours reviewing sales and expense reports in order to determine if she had reached her profit goals for the previous month. Bing's efforts are part of the ____ function of management

Back 20

Controlling