Exam_2_Study_Sheet_Mgmt_120_Fall_2006 - Exam 2 Study Sheet:...

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Exam 2 Study Sheet: Chapters 5,6,7,8,11 Mgmt 120 / Fall 2006 / Lynn __________________________________________________________________________ Everything from book and class is game for the test. The following will point you toward some but probably not all of the high points. The PowerPoint slides are available on Blackboard. Bring a scantron for the multiple-choice; I will provide paper for the short-answer and essay. The test is roughly divided as: 75% is multiple-choice from the textbook (52 questions) and lecture (6 questions) 25% is short-answer from lecture Multiple-Choice : (75 points) Book: Employees/Revenues in small firms- SBA STANDARDS: $500,000-$25 mil, 100-1,500 workers Manufacturing businesses – fewer than 500 workers Wholesalers – fewer than 100 workers Most retailers/other services – up to 5 mil in annual sales Agricultural business – up to 500,000 a yr Locus of control -entrepreneurs who believe they control their own fate – they take personal responsibility for the success or failure of their actions rather than believing in luck or fate (no excuses or blaming others!)11 Small firm advantages/failures- adv:Innovation, Superior customer service, Lower costs, Filling isolated niches flr: management shortcomings, inadequate financing, government regulations Internet—history - *a key to business success* Internet-worldwide network of resources on the interconnected computers that lets anyone with access to a personal computer send and receive images and data anywhere World Wide Web-collection of resources on the internet that offers easy access to text, graphics, sound, and other multimedia resources *most popular internet source* Web Site-integrated document composed of electronic pages that integrate text, graphics, audio, and video elements, as well as hypertext links to other documents HISTORY: Begain in ’69 as a Department of Defense experiment that involved networking 4 computers to facilitate communications in the event of a nuclear war, in the early ‘90’s it remained an obscure computer network with few commercial applications, today it is used as an all-purpose global network that allows computer users anywhere to send and receive data,sound,and video content. PHENOMINAL GROWTH-host computers more than double annually 500 million users – 50% of US online – expected to grow to 70% 100 websites only in ’93 – 30 mil registered domain names today (domain name=website address) Small firm financing -credit cards(an important source for financing) Need creativity bc of less money Trade credit – purchasing goods or equipment from a supplier who finances the purchase by delaying the date of Payment for those goods Line of Credit – an agreement between a bank and a borrower, indicating the max amount of credit the bank will Extend to the borrower *Busniesses typically use more than one source of financing* Trade Credit 61% Personal Credit Card 39% Bus. Credit Card 28% Line of Credit 26% Motor Vehicle Loan, Equiptment Loan, Financial Loan, Mortgage Loan
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This note was uploaded on 04/29/2008 for the course MGMT 120 taught by Professor Lynn during the Fall '08 term at Abilene Christian University.

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Exam_2_Study_Sheet_Mgmt_120_Fall_2006 - Exam 2 Study Sheet:...

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