Unit 7 - Entrepreneurship

What is the purpose of TQM?

• paying employees more money

• focusing on the customer and continuous improvement

• expanding the business to more countries

Edwin received a pay raise and an extra week of vacation for his hard work. This is an example of what type of motivational strategy?

• Empowerment

• Rewards

• Redesigning jobs

What is a target audience?

• anyone who sees your products online

• people who purchase products and services

• a specific group of consumers focused on through marketing

Which theory states that job satisfaction and job dissatisfaction are not opposites?

• Herzberg's Two Factor Theory

• Maslow's Hierarchy of Needs

Which theory states that all humans have five basic types of needs: physiological, safety, love/belonging, esteem, and self-actualization?

• Maslow's Hierarchy of Needs

• Herzberg's Two - Factor Theory

Which theory states that providing attention and making people feel valued are the most important factors in improving worker satisfaction?

• Bureaucratic Management

• Human Relations Theory

• Principles of Administrative Management

Cassia remained positive about selling more cars even when she had a disappointing month of sales. Which characteristic of a successful entrepreneur does this represent?

• Optimistic

• Creative

• Flexible

William is very organized and likes to work in an office during set hours. This is an example of which type of personality characteristic?

• Style

• Support System

• Structure

Austin loves to snowboard and snow ski. He often participates in other active outdoor sports such as hiking and mountain biking. Which of these may greatly impact his business idea?

• Goals

• Hobbies

• Experience

Successful entrepreneurs have a passion for their business. How do you find your passion?

• consider your own abilities, interests, and experiences

• discuss with other entrepreneurs

• watch television