HMGT 101 Chapter 6 – Flashcards
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Market
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Consists of people with unsatisfied wants and needs who have both the resources and willingness to buy
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Enterprise Zones
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Governments try to attract private business investment to specific geographic areas known as _________ by offering lower taxes and other government support
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Entrepreneurial Team
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A group of experience people from different areas of business who join together as a_______form a managerial team with skills needed to develop make and market a new product
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Small business
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Is independently owned and operated not dominated and it's field of operation and meet certain standards of size in times of employees in and annual receipts
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Venture capitalist
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Individuals or companies known as______ invest in new businesses in exchange for partial ownership of those businesses
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Incubators
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Centers called____of a new businesses low cost offices with basic business services
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Small business administration
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The SBA office is known as the_____ as volunteers from industry trade organizations and education Council services for small business and no cost except for expenses
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Entrepreneurship
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Accepting the risk of starting and running a business
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Intrapreneurs
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Creative ppl, work as entrepreneurs within corporations
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Small business investment company
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Program through which private investment companies are licensed by the small business administration to lend money to small businesses
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Business plan
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Detailed written statement
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Micropreneurs
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Entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work they want to do, and offers then a balanced lifestyle
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Service Corps of Retired Executive
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U.S. Government called _____advises and assists small businesses by providing management training and financial advise and loans.
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Affiliate marketing
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Internet-based marketing strategy and was businesses reward individuals other businesses for each adviser or customer since its website
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Entrepreneurs take the risk of starting a business for all of the following reasons:
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They want independence they like the challenge and the risk and they want to make money for themselves
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Steve has three businesses in now and involved in his third with plans of starting yet another one which of the traits of successful entrepreneurs does Steve have?
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Action oriented
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And entrepreneurial team is
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A group of experience people who join together to develop and market a new product
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Incubator is
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A center that offers new businesses low-cost offices with basic business services
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Which of the following is among the challenges faced by those whom home-based businesses?
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Managing time
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Affiliate marketing is
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An Internet-based marketing strategy in which a business rewards individuals are other businesses for sending visitors to their website
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What is a true statement about small businesses?
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Small businesses account for more than 50% of the GDP
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A small business is
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Is considered small relative to other businesses in its industry
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Jaylin wants to start a small business and putting some products from her native Kenya before C start some good advice to Jaylin would be:
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Talk to others who have been or are in the import business
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The primary concerns when starting your business
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Financing and planning
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A business plan for a new business does not need to include
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Name of lending bank
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What are the primary sources of funding for entrepreneurs?
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Personal savings in and individual investors
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For market to exist there must be potential buyers....
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Who have a willingness and the resources to buy
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According to the text one of the drawbacks of using venture capital is that...
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Venture-capital firm's May as for a stake in your business
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Small business owners often say that the most important assistance they need is in
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Accounting
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The US government agency that advises and it says small businesses by providing management training and financing
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A SBA Service with 13,000 volunteers who provide counseling services for small businesses free except for expenses
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Small businesses have an advantage over large businesses in international trade in all of these ways
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They can begin shipping fasting and oversee buyers like dealing with individuals rather than large businesses and they can provide a variety of services
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Horizontal merger
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Joins two farms in the same industry
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Partnership
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A legal form of business with two or more owners
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Kai is a business owner who works from home as a freelance worker. I really enjoy my work but need to add to it. I just want to make s good living. What am I?
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Micropreneur
