DC Entrepreneurship Review Part 1

Ms. Studebaker changed some product suppliers to select fair trade options whenever possible. Which factor of the PESTLE Analysis model does this choice refer to?

• Social

• Technological

• Ethical/Environmental

• Economic

• Political

Ms. Studebaker hired additional baking staff, and she does not want them to tell others about her secret recipe. She should have them sign a:

• Wage/Benefit Statement

• Proprietary Agreement

• Non-Compete Clause

• Third Party Contract

• Non-Disclosure Agreement

The Solve it Method encourages you to examine your surroundings and question everything around you.

• true

• false

Which of the following is defined as a person or group that invests money in a business, in exchange for an equity position in the business?

• Government Grant Program

• Chamber of Commerce

• Local Taxing Board

• Small Business Administration

• Venture Capitalist

XYZ Widget pays their sales staff bonuses for meeting a sales quota each quarter. What type of compensation is the sales staff receiving?

• Quota/Benefit System

• Worker's Compensation

• Employee Benefit Salary

• Sales+ Pay System

• Incentive Pay System

Jamison is working with a venture capitalist who funded his company. When they sell the company, Jamison is entitled to 55% of the sale price. His company sold for $500,000; how much does Jamison receive?

• $22,500

• $909,090

• $225,000

• $27,500

• $275,000

A business culture is the cumulation of norms, beliefs, behaviors, and preferences that are displayed by employees, managers, and owners within a business.

• true

• false

Mr. Shark has decided to rent space in an environment with other businesses that will also utilize that space. What is this arrangement called?

• Shared Space Agreement

• Dense Working Environment

• Cooperative Working

• Co-Working

• Leasing Work Spaces

Knowledge-based jobs started to become prevalent in the mid- to late-20th century.

• true

• false

Your business mission statement would likely be contained within which of the following sections of a formal business plan?

• Executive Summary

• Market Analysis

• Table of Contents

• Company Description