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