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Unit 6 & 7: Entrepreneurship, Leadership & Management Flashcards | StudBud
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Unit 6 & 7: Entrepreneurship, Leadership & Management
Unit 6 & 7: Entrepreneurship, Leadership & Management
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Unit 6 & 7: Entrepreneurship, Leadership & Management
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1
The way people get along with each other is known as
communications
management style
human relations
influence
2
What type of leadership occurs when a leader is elected or chosen for a group
forced influence
formal influence
selected influence
informal influence
3
Using another business to complete a risky activity is known as __________ the risk.
avoiding
insuring
transferring
assuming
4
This legal structure of a business has more than one owner and does not protect personal assets
for profit corporation
partnership
sole proprietorship
limited liability partnership
5
This legal structure of a business make a profit for owners & allows the sale of stock shares
partnership
non-profit corporation
for profit corporation
limited liability partnership
6
Which is not a characteristic of a leader?
Confidence
Dependability
Laziness
Initiative
7
What type of leadership influence occurs naturally in a group
forced influence
natural influence
formal influence
informal influence
8
Which is a characteristic of a successful entrepreneur?
Sensitivity
Courage
Agressiveness
Patience
9
Which level of management spends most its time completing planning and controlling activities
team management
middle management
top management
supervisors
10
What is the most important resource a business has?
money
advertising
people
products
11
Which is not a part of a business plan?
Executive Summary
Customer Reviews
Your Marketing Mix
A Financial Summary
12
The first step in developing a business plan is to
write the introductory section.
develop the “game plan."
gather and review information.
identify alternative plans for production and marketing.
13
Which is not an example of a leader demonstrating good ethics?
rewarding ethical behavior
being honest
firing whistleblowers
admitting failure
14
Which is not a risk associated with becoming an entrepreneur?
Business failure
Independence
Unexpected obstacles
Financial insecurity
15
Which is not a characteristic of a leader?
Honesty
Humor
Intelligence
Cooperation
16
Which is not true about corporate/company culture?
it determines who gets fired
it determines the standards of the company
it is the shared value of the employees
it defines the atmosphere/vibe of the company
17
This legal structure of a business has one owner and protects the owner's personal assets
limited liability company
sole proprietorship
nonprofit corporation
partnership
18
Which best defines human relations
the way we work with each other
the way we get along with each other
the ways we are related to each other
the way we argue with each others
19
According to SBA, a small business is an independent business with fewer than ___ employees.
50
10
100
500
20
Which leadership style allows everyone to provide their opinion in making a decision?
Delegative
Participative
Selective
Authoritarian
21
Which is not a key benefit of being an entrepreneur?
Working longer hours
Creating greater wealth
Doing work you enjoy
Making your own rules
22
Money needed for the important resources of a business that will last for many years is called
credit
short-term financing.
start-up financing.
long-term financing.
23
The way a manager treats and involves employees is called
leadership
influence
entrepreneurship
management style
24
Which of the following technology advancements does not helps business success?
Search engine advertising
Video conferencing
Cell phone screen shots
Search engines
25
Which is a characteristic of a successful entrepreneur?
Enthusiasm
Deceptiveness
Relaxed
Creativity
26
Which is not one of the three main leadership styles?
Selective
Delegative
Participative
Authoritarian
27
Which key factors determine who has more decision making power the manager or employee?
good judgement & skill
confidence & knowledge
knowledge & skill
skill & confidence
28
This legal structure of a business has no protection for your personal assets & only one owner
for profit corporation
sole proprietorship
partnership
limited liability partnership
29
Which is a skill an entrepreneur must have?
Communication
Mechanical
Strength
Computer
30
A person who is not a manager but is still able to get a group focused and organized is using
tactical management
formal influence
strategic management
informal influence
31
The ability to motivate individuals and groups to accomplish important goals is
management
leadership
power
influence
32
Most of the money needed to start a new business comes from
personal and business loans.
the entrepreneur and his/her family and friends.
the sale of stock
credit given by businesses that sell products and services
33
Mission statements
are principles of conduct governing an individual or group
are the guidelines that direct employees’ behavior.
describe why businesses exists & what they will accomplish
are written explanations of how ideas will be carried out.
34
This legal structure of a business includes multiple owners and protects their personal assets
for profit corporation
limited liability company
limited liability partnership
non-profit corporation
35
Which answer best describes a business plan?
an outline/plan for the success of your company
a request for money
a outline/plan for the purpose of your company
an outline of your failures
36
Which of the following is not one of the five functions of management?
planning
controlling
producing
implementing
37
Which leadership style allows employees to mostly manage themselves?
Authoritarian
Delegative
Participative
Selective
38
Which of the following is not a type of economic risk?
liability risk
personal risk
property risk
39
What is the key difference between an employee and an entrepreneur?
an employee works for someone else
an entrepreneur works for themselves
an employee creates a business
an entrepreneur works for someone else
40
What is risk?
a positive reaction
the chance of losing something
a negative reaction
a dangerous board game
41
What is the definition of an entrepreneur?
someone who creates and runs a business
someone who works for a large company
someone who works for a small business
someone who manages a small business
42
Which management functions involves analyzing information, setting goals, and making decisions
implementing
organizing
planning
controlling
43
Which is a characteristic of a successful entrepreneur?
Humor
Talkative
Determination
Attractiveness
44
This legal structure of a business allows the company to not pay taxes in order to help others
limited liability company
for profit corporation
limited liability corporation
nonprofit corporation
45
Just one person is MOST likely responsible for all of the management functions in a
large corporation
partnership
new small business
multinational company
46
Which leadership style requires no input or opinions from anyone but the leader?
Delegative
Authoritarian
Selective
Dictatorship
47
Which best defines leadership?
the ability to motivate groups to accomplish goals
the ability to work the best in a group
telling a group of people what to do
the ability to get others to follow you
