BEM1O - Unit 1 Test Review (Intro & A1)

A craze that comes into the market quickly, but leaves just as fast. ​

This form of business has the owner assume all the risk:

Maslow's Hierarchy, This is obtaining the basics for survival.​

When parents/guardians purchase products for children to use, the children are considered:

By monitoring KPIs, organizations can find areas of strength and weakness, and make data-driven decisions.

A hands-off or passive approach to leadership.

A study undertaken by an organization to identify its strengths and weaknesses, as well as its opportunities and threats

Done by motivating team members to go beyond their comfort zone and achieve much more than their perceived capabilities

The practice of making one's living or making money by producing or buying and selling products or services

Maslow's Hierarchy, the feeling of being respected by others and yourself​

This form of business has the owner assume half of the risk:

Things you must have in order to stay alive.

An organization's set of standard processes that address all processes to develop, maintain, or deliver the product

The biggest factor affecting supply and demand is the price

A corporation that is organized and controlled by its members. A good example would be the farming community.

When parents/guardians purchase products for children to use, the company who made the product are considered:

Is more short-term and can best be described as a “give and take” kind of transaction

Adding coloured lights to the bottom of kids running shoes would be considered an:

The consumer's desire to purchase a particular good or service

The leader is bound to processes and regulations that are followed according to policy with no room for flexibility. 

The number of products that a producer or seller is willing and capable to provide to buyers

The leader makes all decisions on behalf of the team without taking any input or suggestions from them

TV, cell phone, computer, name brand clothes, etc.​

a collaborative leadership style where each team member has an opportunity to help the direction by deciding together

When parents/guardians purchase products for children to use, the parents are considered:

The second phase of project management is expected to take almost half of the entire project’s timespan

Maslow's Hierarchy, the feeling of accomplishing big change or affecting society for the better...rarely obtained.

Where supply meets demand, this is the price point at which you should sell your product

Is calculated by dividing the company's sales over a certain period by the industry's total sales during the same period

A study undertaken by an organization to identify its strengths and weaknesses, as well as its opportunities and threats

These 2 areas of a SWOT analysis are external of the organization.

The leader strives to serve the needs of their team above their own. It is also a form of leading by example.

Without concrete goals, you are essentially shooting in the dark trying to improve

Easiest and most common way to start a business:

Which of the following is NOT a service?

Key Indicators could be based on financials, success rates, customer approvals, efficiency, environmental, etc.

A legal entity that separates the business from its owner/operator:

A general direction in society which may last for a long time​

A brand-new product or service that no one has ever thought about before