Specific, Measurable, Attainable, Relevant, Time-bound

An example of social goals are:

Ecological sustainability and social justice, Community service and provision of employment

Corporate Social Responsibility involves the managers or owners of a business taking steps...

to ensure the broader social welfare of all people & nature.

In an initial feasibility study, an analysis of commercial feasibility involves...

considering strengths, weaknesses, opportunities & threats

system to determine what/how to produce who will receive it.

Which of the following is NOT a way that business' directly contribute to the economy?

Contributions to superannuation.

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BM Unit 1: The Business Idea

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Questions 16

Answers

1
The process of creating a new or significantly improved good, service or process.
Entrepreneurship
Market Conditions
Innovation
Goal
2
Which of the following is NOT a step in the market research process?
Devising marketing strategies.
Analysing market conditions.
Identify the information needed.
Gathering the relevant information.
3
Alissa has invented a new lightweight material to replace the leather in boxing gloves...
Patent
Design Rights
Copyright
Trademark
4
SMART Goals are:
Specific, Market aligned, Assertive, Ridiculous, Guaranteed
Specific, Measurable, Attainable, Relevant, Guaranteed
Spot-on, Meet needs, Answerable, Relevant, To be timed
Specific, Measurable, Attainable, Relevant, Time-bound
5
Which of the following is NOT a common way governments foster a culture of innovation.
Regional business start-up hubs
promotional billboards
School-based education programs
R&D tax incentives
6
An example of social goals are:
Increase market share and expansion of business
Ecological sustainability and social justice
Community service and provision of employment
Increase personal income and financial security
7
The ability & willingness to start & assume the risk of business in the hope of making profit.
Goal
Innovation
Market Conditions
Entrepreneurship
8
Corporate Social Responsibility involves the managers or owners of a business taking steps...
to gain a competitive advantage.
to ensure all employees are paid on time.
to protect the business' intellectual property.
to ensure the broader social welfare of all people & nature.
9
An example of financial goals are:
Community Service and provision of employment
Expanding the business
Both B and C
Making a profit, and Increasing Market Share
10
Vi has designed a custom logo for a local cafe. What sort of IP can she apply for?
Patent
Copyright
Domain name
Trademark
11
In an initial feasibility study, an analysis of commercial feasibility involves...
appraising the potential owners management ability
describing the product/service that will be sold.
Considering business operations
considering strengths, weaknesses, opportunities & threats
12
An economy is a
system to determine what/how to produce who will receive it.
system where employees responsible for workplace operations
summary of potential for a business idea’s to be successful
situation where a business grows and expands
13
Yusuf has written an original song on the guitar. What sort of IP is he immediately afforded?
Copyright
Trademark
Domain name
Patent
14
Which of the following is NOT a way that business' directly contribute to the economy?
Contributions to superannuation.
Contributions to export earnings.
Contributions to employment.
Contributions to economic growth
15
Personal goals are:
Aligned with business goals
A, B and C
Increase personal income and financial security
Generally not made public
16
Rony has invented a self-inflating basketball. What sort of protection can he apply for?
Patent
Domain name
Trademark
Copyright

BM Unit 1: The Business Idea Flashcards | StudBud