Entrepreneurship
What is the first step in entrepreneurial discovery?
A. Analyzing the feasibility of an idea
B. Screening the product ideas
C. Determining the risks and rewards
D. Identifying an unmet want or need
D.
Identifying an unmet want or need
When people get along well together, they are practicing __________ human relations skills.
A. ineffective
B. questionable
C. effective
D. unrewarding
C.
effective
When it comes to customer service in the hospitality and tourism industry, which of the following statements is true:
A. Customers are not needed for the industry to thrive.
B. Customers often avoid sharing bad experiences with others.
C. Customers typically share good experiences with others.
D. Customers don't choose businesses based on customer service.
C.
Customers typically share good experiences with others.
Sometimes, the ability to follow directions is a skill that is necessary for survival. This is known as a(n) __________ skill.
A. academic
B. social
C. life
D. cultural
C.
Life
Which of the following is the most effective way to avoid excessive credit card debt:
A. Pay off your balance each month.
B. Use credit card cash advances to pay debt.
C. Choose a credit card with a high limit.
D. Pay off low-interest credit cards first.
A.
Pay off your balance each month.
When bottlenecks in business processes develop that cause a company to miss deadlines and waste resources, an effective manager would most likely choose to
A. implement an employee incentive program.
B. redesign the business processes.
C. invest in quality control.
D. speed up production.
B.
redesign the business processes.
Which of the following messages should be communicated to an employee in person:
A. The business believes the employee is stealing goods.
B. The business will offer flextime in the summer.
C. The employee's department will soon be enlarged.
D. The assistant manager is taking vacation next week.
A.
The business believes the employee is stealing goods.
The freedom to own private property allows people in a private enterprise economy to earn the income they need to
A. function in a group.
B. work together.
C. live independently.
D. share experiences
C.
live independently.
Which of the following are types of careers in business:
A. Surveyor and administrative assistant
B. Auditor and conservationist
C. Electrician and public relations specialist
D. Accountant and sales manager
D.
Accountant and sales manager
What are the basic components of a business budget? A. Inventory, variable costs, and profits
B. Fixed costs, variable costs, and semi-variable costs
C. Fixed assets, inventory, and investments
D. Total revenues, total costs, and profit
D.
Total revenues, total costs, and profit
What is a benefit of corporate governance?
A. Increased distance from investors
B. Freedom from stakeholder interference
C. Improved access to capital
D. Ability to bypass sustainability efforts
C.
Improved access to capital
Which data collection method usually takes place online?
A. Observation
B. Personal interviews
C. Tracking
D. Experiments
C.
Tracking
Which of the following situations negatively impacts a hotel's ability to hire local community members as entrylevel employees:
A. A low federal minimum wage
B. Lack of higher education opportunities
C. Increased lodging sales tax
D. A high cost of living
D.
A high cost of living
If an individual wants to purchase a good or service using money directly from their bank account, they should pay using
A. a bond.
B. cash.
C. a credit card.
D. a debit card.
D.
a debit card.
The way you follow up with a customer when showing a customer service mindset will vary according to
A. the customer's level of frustration.
B. the type of service you have provided the customer.
C. how far away the customer is located.
D. how much attention your supervisor paid to the customer.
B.
the type of service you have provided the customer.
What is one disadvantage of word-of-mouth advertising?
A. Low risk
B. High costs
C. Limited control
D. Extensive input
C.
Limited control
The reason for using certain communications channels, such as coupons, in sales promotion is to
A. persuade customers to remain loyal.
B. generate an immediate response.
C. create long-term demand.
D. advertise a new product.
B.
generate an immediate response.
Which of the following best exemplifies an individual's career progression:
A. Sales representative, sales director, operations manager
B. Advertising coordinator, promotions manager, vice president of marketing
C. Lead buyer, assistant buyer, finance manager
D. Accounts receivable clerk, production manager, human resources assistant
B.
Advertising coordinator, promotions manager, vice president of marketing
Businesses often use presentation software to develop computerized training materials that contain interactive buttons, which allow employees to
A. test themselves.
B. conduct research.
C. study together.
D. access databases.
A.
test themselves.
To reduce the risk of unauthorized access to confidential data, businesses use security software to protect their
A. corporate policies.
B. intranet systems.
C. intercom systems.
D. spam email.
B.
intranet systems.
All of a firm's activities and how they function in relation to one another are known as
A. desired outputs.
B. efficiency standards.
C. communication goals.
D. business operations.
D. business operations.
Nonverbal communication includes body language, which often indicates the level of a person's
A. intelligence.
B. enthusiasm.
C. ability.
D. education.
B.
enthusiasm.
Ryan is working with his marketing team to set goals and create a budget for the upcoming year. Which marketing function is Ryan performing?
A. Market planning
B. Product/Service management
C. Selling
D. Pricing
A.
Market planning
The preparation of income statements and balance sheets is usually the responsibility of the business's __________ department.
A. marketing
B. accounting
C. purchasing
D. human resources
B.
accounting
Like food service is just one segment of the hospitality and tourism industry, __________ is one component of __________.
A. risk control; risk management
B. risk management; risk control
C. internal risk; external risk
D. external risk; internal risk
A.
risk control; risk management