The Nature of Entrepreneurship & Small Biz
What is the process of creating and managing a business to achieve personal desired objectives?
Entrepreneurship
What is a precise statement of the rationale for the business and a step-by-step explanation of how it will achieve its goals?
Business Plan
What is the elimination of significant numbers of employees from an organization?
Downsizing
Who supervises workers and the daily operations of the organization?
Front-line Managers
Which leaders consider the needs of their employees and form strong relationships with stakeholders?
Servant
What are entrepreneurs with five or fewer employees are considered?
Microentrepreneurs
What is, they take responsibility for the development of innovations within the larger organization?
Intrapreneurs
What is a declaration of an organization’s fundamental purpose and basic philosophy?
Mission or Mission Statement
Who handles the staffing function and deals with employees?
Human Resources Manager
Which leader involve their employees in decisions?
Democratic
Who are individuals who use entrepreneurship to address social problems?
Social Entrepreneurs
What are persons or organizations that agree to provide some funds for a new business in exchange for an ownership interest or stock?
Venture Capitalists
What are the specific and quantitative metrics that are measured, tracked, and analyzed to measure progress toward objectives?
Key Performance Indicators (KPIs)
Who is responsible for tactical and operational planning?
Middle Managers
Which leaders make all the decisions and then tell employees what must be done and how to do it?
Autocratic
What is, an economic model involving the sharing of underutilized resources?
Sharing Economy
What is the independent agency that offers managerial and financial assistance to small businesses?
Small Business Administration (S B A)
What are the long-range objectives and overall course of action by which the firm fulfills its mission?
Strategic Plans
Who is responsible for planning, pricing, and promoting products and making them available to customers through distribution?
Marketing Manager
Which leaders let their employees work without much interference?
Free-rein
What is an economic model involving independent contractors selling their services on-demand?
Gig Economy
What is the lack of funds to operate a business normally?
Undercapitalization
What is in place to deal with potential disasters or negative publicity?
Crisis Management or Contingency Planning
Who is responsible for implementing, maintaining, and controlling technology applications in business?
IT Manager
Which leaders are passionate about the goals and mission of the company, display corporate values in the workplace, and form long-term relationships with stakeholders?
Authentic