Business: Chapter 6 ; 7 exam – Flashcards

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question
process of starting, organizing, managing, and assuming responsibility is called business capitalism
answer
false
question
everyone who owns a business is an entrepreneur
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false
question
in US, nearly as many small businesses close as begin each year
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true
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US businesses w just single owner and no staff account for over $600 bill. in annual sales
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true
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all entrepreneurs opportunities emerge from inventions and innovations
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false
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easier for small business to meet precise needs of customers than large business
answer
true
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many small businesses fail simply because they're not located in right spot
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true
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most important step in starting a business is preparation
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true
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once business plan is written, should never be revised and should never be updated
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false
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most popular use of business plans is to persuade lenders and investors to finance venture
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true
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planning involves effort to direct and lead people to accomplish planned work of organization
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false
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every manager gives same amount of time and attention to each management functions
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false
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supervisors often have non-management duties in addition to management work
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true
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work groups an ineffective way for employees to gain experience w management activities
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false
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in strategic management, managers less directive and involve employees in decision-making
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true
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management is ability to motivate individuals and groups to accomplish goals
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false
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most effective leaders treat everyone alike
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false
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influence enable person to affect actions of others
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true
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almost everyone has same beliefs about what constitutes ethical behavior
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false
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much more important for employees to practice ethical behavior than its for managers to practice it
answer
false
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