People Things
a distinguishing characteristic or quality that makes each person unique
What is a trait?
Process of setting goals and deciding how to accomplish them
What is planning?
Part of management pyramid that consists of a company's board of directors, president, and other high ranking managers.
What is Top Management?
Entrepreneurs have a _____. They are driven to be independent and successful. They set goals and work hard to achieve them.
What is purpose?
Gathering and analyzing information about a business
What is market research?
Management theory where managers believe employees like work and are motivated.
What is Theory Y?
Skills needed to perform a particular job or position
What are job-specific skills?
Continuous process of evaluating the progress in reaching goals and making corrections to plans, when necessary.
What is controlling?
The part of the management pyramid that consists of managers who coordinate and supervise activities and duties of the employees.
What is first line managers?
Entrepreneurs follow their ______, which is something they believe in or that they are enthusiastic about. Most successful entrepreneurs combine what they are good at with what they enjoy.
What is passion?
Movement of money into and out of a business
What is cash flow?
Management theory where managers believe employees dislike work.
What is Theory X?
Someone with experience who can provide advice, suggestions, and ideas
What is a mentor?
Leadership style in which the manager provides little or no direction and decisions are made by the team.
What is Laissez-Faire?
The part of the management pyramid that consists of a company's division managers and department heads.
What is middle management?
Entrepreneurs are ______ in achieving success. Determination to work through obstacles is key in becoming a successful entrepreneur.
What is persistence?
Written statement of goals and objectives for a business with a strategy to achieve them
What is a business plan?
Management theory where managers believe workers are highly motivated and capable of making sound decisions.
What is Theory Z?
Skills that can be used on most jobs
What are transferable skills?
A person who starts a new business or purchases an existing business
What is an entrepreneur?
Coordination of activities and resources needed to reach company goals.
What is organizing?
Entrepreneurs need a support system of ______. Professional connections and business associations can offer helpful resources and shared experiences.
What are people?
A sentence describing the purpose of the business
What is a mission statement?
Leadership style where managers must exercise close control over employees and make all decisions.
What is autocratic?
The ability to influence others to reach a goal
What is leadership?
A diagram that shows the structure of an organization.
What is an Organizational Chart?
What is staffing?
The central focus of all businesses is ______. Successful entrepreneurs must manage all the finances of a business.
What is profit?
Money necessary to start & open a business
What is start-up capital?
Leadership style that believes in asking employees for input before making decisions.
What is democratic?