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100
Sales forecast
Which of the following is a tool that an entrepreneur develops to project sales for a new business venture: A. Marketing objectives B. Sales forecast C. Promotional budget D. Inventory report
100
Accepting responsibility for his decision
Jack, a manager, said to his staff, "I know that many of you think that this is a risky course of action. But, I've decided that we should proceed. If this is successful, it could greatly benefit the company. If it fails, I'll accept the consequences and work to find a solution." What is Jack doing
100
Market Demand
. The first factor that a business should consider when it is deciding if it should sell a product is the: A. promotional strategy. B. taxation rate. C. storage space. D. market demand.
100
mentally flexible.
People who are naturally creative often are
100
Financial Plan
is a comprehensive evaluation of someone's current and future financial state
200
planning
entrepreneur considers venture location and financial needs during the _____________ process.
200
You gain others' respect
What is often a positive result of accepting responsibility for a poor decision?
200
Likes to seek out new challenges
Which of the following is usually a characteristic of a creative person: A. Likes to seek out new challenges B. Depends on others C. Is patient with other people D. Prefers working under supervision
200
Acting independently
Which of the following personality traits is often associated with creative people: A. Shunning recognition and praise B. Exhibiting low energy levels C. Preferring routine activities D. Acting independently
200
Contracts
Binding legal agreement between two or more persons or parties
300
Production process
Which of the following is an operational issue that entrepreneurs must consider when planning their businesses: A. Source of financing B. Target market C. Production process D. Direct competitors
300
Target Market
A business might take an existing product and alter it to fulfill a specific need for a different
300
Solve Problems
When generating new ideas for new businesses, entrepreneurs often look for ways to
300
Venture Location and Financial Needs
What should entrepreneurs consider during the planning process?
300
Strategic, Tactical, Operational
Three types of planning.
400
promotional budget
When planning for her new business, Janine allocates two percent of the company's estimated annual sales to web and newspaper advertising. Janine is developing a...
400
Ask the customers
Which of the following is a way that a business can determine if a product will fulfill its target market's needs: A. Observe workers B. Distribute promotional materials. C. Ask the customers D. Develop a prospect list
400
Creative Thinking
Which of the following processes helps aspiring entrepreneurs generate venture ideas: A. Financial planning B. Decision making C. Goal setting D. Creative thinking
400
Clear time frame, Realistic, Specific
What are the requirements to have a good goal
400
Planning, Organizing, Directing, Controlling
Some things Managers do
500
an employee's decisions and actions can negatively impact others
After Porter realized that he processed an order incorrectly, he waited too long to correct the problem. As a result, an incorrect item was shipped to the customer. Now, the customer will need to ship the item back to the warehouse, and Porter's company will need to pay extra charges to have the product returned. This situation illustrates that
500
Product Mix
. A business that identifies products to sell that fill customer needs is making which decision: A. line extension B. product mix C. customer service D. quality control
500
keep the group on task
The primary responsibility of the facilitator of a product idea brainstorming session are to compile all of the ideas and
500
A business plan
a document that decribes a new business and a strategy to launch that business
500
Executive Summary, Management Team Plan, Company Description, Product and Service Plan, Vision and Mission Statements, Industry Overview, Market Analysis
Parts of a business plan
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