Small Business Details
Small businesses usually have these, which are another word for invention.
Innovation
A written description of the business idea and how it will be carried out, including all major business activities.
Business Plan
Give an example of an unethical practice for a manager.
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A Business that ensures that the highest standards of conduct are observed in a company’s relationships with everyone who is a part of the business or affected by the business’ activities has what type of business practices?
Ethical Business Practices
Money needed for the important resources of a business that will last for many years.
Long-Term Financing
Money provided by investors to finance new products and new businesses that have a good chance to be very profitable.
Venture Capital
The way people get along with each other.
Human Relations
Which of the following is NOT a key factor in starting your own business? Desire to be your own boss, wanting to fire people, innovative ideas, or having special skills.
Wanting to fire people.
Which of the following could be considered a characteristic of an entrepreneur? Impatient, safe, energetic, unconfident.
Energetic.
Another name for top level management.
Executive.
To be considered a small business you must have less than this number of employees.
100!
The effort to inspire and motivate individuals and groups to accomplish important goals.
Leadership
Which of the following is NOT a responsibility listed for managers to follow? Make decisions, act on instinct, solve problems. develop new strategies.
Act on instinct.
Which of the following is NOT one questions to ask of an action(s) to help determine if it is ethical.
Is it lawful? Is it consistent with company values and policies? Does it benefiting some, while harming others? If the actions became public, would it embarrass the company? Do the action(s) make money for the company?
Do the actions make the company money?
This is considered another name for a venture capitalist.
Investor.
Location and this are considered the two most important aspects when starting a business.
Timing.
The process of accomplishing the goals of an organization through the effective use of people and other resources.
Management
Arranging work to achieve goals is part of the ____________ process for management functions.
Planning, Organizing, Staffing, or Controlling
Organizing
What are two ways (that we learned about) to improve leadership abilities?
Study Leadership, Participate in organizations and activities, Practice leadership at work, Observe leaders, Work with a mentor, Do a self-analysis and ask for feedback
The money needed to open the business.
Start up financing.
Besides costs for renting a building, this is the most expensive cost for a business.
Labor, Employees, or People
A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
Small Business Association (SBA)
This type of manager is extremely strict and usually wants thing done in a specific manner.
Tactical Manager
What type of management strategy is typically utilized with experienced staff, where the manager is less directive and involve employees in decision making?
Strategic
Specialists with responsibilities for specific parts of a company’s operations are known as this.
Mid-Managers