Solved by Expert Tutors
Solved by Expert Tutors
Question

Unit 2 Study GuidePart A: Multiple ChoiceChoose the answer that best

completes the statement or answers the question.

1. Looking for chances to learn new skills is which way of thinking like an entrepreneur?

a. observing

b. listening

c. thinking

 

2. Noting what others say, and what problems they are facing, is which way of thinking like an entrepreneur?


a. thinking

b. observing

c. listening

 

3. Analyzing a problem to find solutions is which way of thinking like an entrepreneur?


a. observing

b. listening

c. thinking

 

4. Giving employees chances to try new ideas at work is


a. intrapreneurship.

b. internship.

c. apprenticeship.

d. a vision.

 

5. __________ allows someone to follow an experienced worker through a typical workday and see what is associated with the person's job.


a. A mentoring program

b. Job shadowing

c. Intrapreneurship

d. An apprenticeship

 

Part B: Matching

Match each pathway with the correct career cluster.

a. audio and video technology and film

b. family and community services

c. programming and software development

d. banking services

e. power, structural, and technical systems

6.

Career Cluster 1—Agriculture, Food, and Natural Resources

7.

Career Cluster 3—Arts, Audio / Video Technology and Communications

8.

Career Cluster 6—Finance

9.

Career Cluster 10—Human Services

10.

Career Cluster 11—Information Technology

 

Part C: Multiple Choice

Choose the answer that best completes the statement or answers the question.

11. What is an example of ethical sourcing?


a. buying from the least expensive suppliers

b. buying from suppliers who respect workers' rights

c. using only environmentally friendly products

d. donating money to a socially beneficial cause

 

12. Corporate social responsibility means


a. making as much money as possible to support the economy.

b. donating as much money as possible to charities.

c. running a non-profit business to do community projects.

d. balancing profit and growth with the good of society.

 

13. A __________ statement expresses the ultimate goal of a business.


a. mission

b. vision

 

14. What are the four qualities that mark responsible relationships with customers?


a. honesty, integrity, truthfulness, and justice

b. courtesy, integrity, honesty, and justice

c. honesty, respect, accessibility, and attention

d. justice, correctness, accuracy, and neatness

 

15. What is an example of a green company?


a. a company that follows environmental laws

b. a company that makes a profit

c. a company that uses solar lighting to save fuel

d. a company that hires fewer workers to save money

 

16. Solar, wind, and hydrogen power are


a. fossil fuels.

b. alternative energies.

c. organics.

d. greenwashing.

 

17. What is the goal of sustainable design?


a. preserving resources for future generations

b. expanding a business

c. maintaining a business

d. reducing expenses to save money

 

18. Which plan allows a business to "buy" amounts of carbon from traders who invest in resource-conservation projects?


a. greenwashing

b. carbon offset

c. organics

d. carbon dating

 

19. How do business ethics help a business succeed?


a. Customers are more confident in dealing with an ethical company.

b. An ethical workplace motivates employees.

c. Ethical behavior prevents legal problems.

d. All of the above are true.

 

20. What is an example of a conflict of interest?


a. A worker and a manager disagree about an office policy.

b. A worker is fired for violating a code of ethics.

c. Personal considerations and professional obligations interfere with each other.

d. A business owner reveals facts about a customer without the person's permission.

 

21. The three C's that any business plan must address are


a. concern, criticism, and concept.

b. critical thinking, classification, and categories.

c. corporations, consumerism, and capital.

d. concept, customer, and capital.

 

22. Which type of business plan is for possible investors?


a. investor's business plan

b. oral presentation

c. quick summary

d. operational business plan

 

23. A need or want that a new business can meet is


a. a pivot.

b. a trade show.

c. a business broker.

d. a business opportunity.

 

24. SWOT analysis is considering the __________ of a business idea.


a. strengths, weaknesses, opportunities, and threats

b. stress, wellness, organization, and timing

c. structure, window, organization, and timing

d. size, weight, organization, and timing

 

25. Suppose a business decides to expand its parking lot, but doing so means the business will not be able to hire a new worker. Not hiring the new worker is a(n)


a. window of opportunity.

b. intangible thing.

c. opportunity cost.

d. calculated risk.

 

26. What is an INTERNAL source of opportunity?


a. improving an existing product or service

b. a new invention

c. solving a problem

d. a hobby

 

27. What is an EXTERNAL source of opportunity?


a. adapting to change

b. skills

c. talents

d. interests

 

28. Which activity is part of CREATIVE thinking?


a. determining how feasible an idea is

b. determining what a new idea would involve

c. brainstorming

d. analyzing an idea logically

 

29. A DISADVANTAGE to owning a franchise is


a. less customer awareness.

b. less entrepreneurial freedom.

c. fewer benefits.

d. more difficult financing.

 

30. What is an ADVANTAGE of starting a new business?


a. the amount of risk involved

b. the freedom to build the business as you choose

c. the number of tasks that must be completed

d. the amount of information available to help you make decisions

 

Part D: True or False

Decide whether each statement is true or false.

31. Remembering what you need is an important part of negotiation.


a. true

b. false

 

32. Successful negotiation often includes making concessions.


a. true

b. false

 

33. A business letter would be used to tell a group of workers that their office is closing early on a holiday.


a. true

b. false

 

34. Active listening means you must agree with everything some says.


a. true

b. false

 

35. Faxing and video conferencing are the same thing.


a. true

b. false

 

36. A compromise is an agreement made when both sides make some concessions.


a. true

b. false

 

37. Patents, trademarks, and copyrights protect intellectual property.


a. true

b. false

 

38. All investors who provide money to start a business are guaranteed financial returns.


a. true

b. false

 

39. Investors and creditors who provide money to start a business deserve regular updates about the business.


a. true

b. false

 

40. Environmentally friendly practices can help a business succeed.

a. true

b. false

 

41. A code of ethics should contain specific plans of action for every situation.


a. true

b. false

 

42. The guidelines in a code of ethics should be realistic.


a. true

b. false

 

43. An operational business plan is used within a business and is the most detailed kind of business plan.


a. true

b. false

 

44. An executive summary is part of a quick summary business plan.


a. true

b. false

 

45. A prototype is a legal document in which people agree not to reveal new ideas.


a. true

b. false

 

46. Four common ways to turn ideas into opportunities are starting a new business, buying an independent business, buying a franchise, and becoming an inventor.


a. true

b. false

 

47. If the costs of an opportunity outweigh the benefits, the opportunity is worthwhile.


a. true

b. false

 

48. Window of opportunity refers to the amount of time you have to act on an opportunity before it disappears.


a. true

b. false

 

49. Typically, an investor's business plan has three parts.


a. true

b. false

 

50. Trade shows, the World Wide Web, business and government agencies, newspapers, and magazines are all good places to look for business opportunities.


a. true

b. false

Step-by-step answer

The student who asked this found it Helpful

  1. ce dui lectu
  2. congue vel
  3. trices ac m
  4. , consectetur adipi
  5. nec facilisis. Pell
  6. ac, dictum vitae odio. Donec aliquet. Lore
  7. ac, dictum vitae odio. Donec aliquet.
  8. ia pulvinar tortor
  9. ongue vel laoreet ac, dictum vit
  10. ec facilisis. Pellentesque dapibus effi
  11. iscing elit. Nam lacinia pulvinar tortor nec facilis
  12. lestie consequat, ultrices ac magna. Fusce dui lectus,
  13. ac, dictu
  14. gue vel laoreet ac, dictum vitae odio. Donec aliq
  15. sum dolor sit amet, consectetur adipiscing
  16. ipsum dolor sit amet, c
  17. ac, dictum vitae odio. Donec aliquet. Lorem ip
  18. , dictum vitae
  19. , consectetur adipiscing elit
  20. rem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor
  21. icitur laoreet. Nam risus ante, d
  22. ac, dictum vitae odio. Donec
  23. facilisis. Pellentesque d
  24. s ante, dapibus a molestie consequat, ultrices ac mag
  25. ur laoreet. Nam risu
  26. ctum vitae odio. Donec aliquet. Lorem ipsum
  27. onec aliquet. Lorem ip
  28. molestie consequa
  29. s ante, dapibus a molestie conse
  30. ec aliquet. Lorem ipsum dolor
  31. consect
  32. , dictum
  33. , dictum
  34. ia pulvin
  35. ia pulvin
  36. , dictum
  37. , dictum
  38. ia pulvin
  39. , dictum
  40. , dictum
  41. consect
  42. , dictum
  43. , dictum
  44. , dictum
  45. ia pulvin
  46. ia pulvin
  47. , dictum
  48. , dictum
  49. , dictum
  50. , dictum

Subscribe to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Let our 24/7 Entrepreneurship tutors help you get unstuck! Ask your first question.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes