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Entrepreneurship- Chap. 5, 6 & 24- Opportunity, Plans, Market research & Business Ethics Flashcards | StudBud
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Entrepreneurship- Chap. 5, 6 & 24- Opportunity, Plans, Market research & Business Ethics
Entrepreneurship- Chap. 5, 6 & 24- Opportunity, Plans, Market research & Business Ethics
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business textbook
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Questions
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Answers
1
"The study of behavior and morals in business situations".
Social Media
Business Ethics
Business Trends
Business Failures
2
"-----------are guidelines for human behavior and form the basis for a person’s character" (right vs. wrong)
Likes
Passions
Ethics
Complaints
3
"A collection of businesses with a common line of products or services" is a or an...?
company
business
industry
target market
4
Chapter 5- What is a Business Plan?
A document that describes all of your raw ideas and aspirations
A document that describes your prototypes
A document that describes and explains a new business
A document that describes all of your investors and capital
5
Not all people share the exact same ethics.
True
False
6
Review- what are demographics?
Geographical aspects of customers
Ethnicity, Age & Gender of customers
Psychological aspects of customers
Brand loyalty of customers
7
What are some common mistakes in preparing a Business Plan?
underestimating the need for capital & trying to be an expert in everything
includes at least 7 sections & includes your Business Name on each page
making the plan look too detailed & professional & incl. financial info.
claiming exaggerated growth or performance
8
"The act of making charitable donations to improve the welfare of society" is called?
hand outs
being too greedy
philanthropy
hurting your profits
9
A customer profile is a complete picture of prospective customers- incl. geographic, demographic & psychographic data.
True
False
10
Chapter 5- A Business Plan has at least 7 main parts or sections
True
False
11
"Companies should contribute to the welfare of society and not be solely devoted to maximizing profits"
social responsibility
social poverty
social ethics
social business
12
"Ethical behavior guidelines that govern the day-to-day activities of a profession or organization"
Secret code
Honor code
Lucky code
Code of ethics
13
"Established to coordinate programs & enforce regulations aimed at reducing pollution & protecting the environment"
CIA
FDA
EPA
FBI
14
Market research- what is the difference between 1. primary and 2. secondary data?
they are both old and already collected data
they are both new and current information
1. current/new vs. 2. old/collected already
1. old/collected already vs. 2. current/new
15
"A business must make safe products, treat customers well & employees fairly"
"A controversial business theory"
A way to lose money
Sometimes true
"Contract with society"
16
What is a "niche" market?
a large general part of the market
a small specialized part of the market
technology products only
a type of rock
17
"Ethics help people decide how to act in situations where moral issues are involved".
False
True
18
Chapter 5- What is a prototype?
a working model of a product
people most likely to buy a product
a feasibility analysis
a type of industry
19
Review- What are psychographics?
ethnicity, gender, age
how psycho some people are
psychological aspects of market research
geographical aspects of market research
20
Conflicts of interest and bribes are not an ethical problem in business situations.
True
False
