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Entrepreneurship Exam Flashcards | StudBud
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Entrepreneurship Exam
Entrepreneurship Exam
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Questions
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1
Why is it important for entrepreneurs to talk with industry experts when developing new business concepts?
The industry experts typically provide useful information
The industry experts usually improve your management skills
The industry experts frequently offer financial support
The industry experts commonly enhance your confidence
2
Postcards, catalogs, and sales letters are forms of
direct mail
mass communication
publicity
public relations
3
A local pizza place gives you a magnet that includes its logo, website, and phone number. This is an example of
specialty media
a spectacular
product placement
directory advertising
4
One of the ways marketing research is used by businesses is to
obtain information in a timely fashion
solve businesses' problems quickly
implement the marketing concept
create an exclusive image
5
Before a business and a customer enter into a valid contract, the offer to do something in return for payment must
implied
accepted
expressed
in writing
6
Which of the following employees would most likely be described as “innovative” by his/her supervisor
Madison, because she prefers to stick to traditional ideas and processes
Jake, because he is always willing to adapt to changes during a project
Elizabeth, because she gets frustrated when she needs to learn new skills
Anthony, because he is usually quiet during brainstorming sessions
7
Internal & external controls, policies, & guidelines for reaching goals & meeting stakeholders' needs are elements of
corporate governance structures
public relations strategies
legal regulations for businesses
nondisclosure agreements
8
Because __________ measures of risk can be too general, it is also useful to perform __________ assessments of risk
responsive; preventative
quantitative; qualitative
qualitative; quantitative
preventative; responsive
9
When tracking the performance of your company's business plan, you should share your results with
customers
the management team only
no one—results are confidential
everyone in the company
10
What is an example of out-of-home media?
Magazines
Blogs
Television
Billboards
11
Which of the following is an interactive public relations activity:
Newsletter
Search engine optimization
Podcast
Social media
12
Which of the following is a true statement regarding quality management
It requires a short-term commitment
It is an ongoing process
It is used mostly in the manufacturing industry.
It involves only upper-level managers
13
Can a lack of customer service cost a business money?
Yes, because people who want good customer service become loyal customers
No, because customer service is obsolete and unnecessary
No, because customer service has little effect on patronage.
Yes, because costly sales personnel can replaced by good customer service
14
Which of the following describes an ethical manager who makes decisions about employees by considering only performance:
Prejudiced
Fair
Inferior
Cooperative
15
A business's brand promise is what the business intends to
provide
provide the customer
16
If a retailer is trying to clear its inventory of a particular product, which would be the most effective type of sale
A buy-one-get-one-free coupon
A contest that rewards the 100th customer
A sweepstakes for a new car
A booth at a trade show
17
Which of the following are communication channels that businesses use when engaging in the push promotion strategy
Mass advertising and trade shows
Trade advertising and trade shows
Trade advertising and pricing
Mass advertising and coupons