WorksheetsEntrepreneurship 2 Honors Unit 1 Test
Total questions: 20
Worksheet time: 13mins
Entrepreneurs who hold themselves to high moral standards from the very beginning
set their businesses up for sucess
are destined to go bankrupt
are unlikely to make a profit
set the bar low for other companies
Maximizing long-term profitability, promoting the health and well-being of the community, and preserving the environment are all goals of
business actualization
business sustainability
coporate sponsorship
coporate social responsibility
Bryce recently hired his good friend Tonya to work for his new startup company, even though she had fewer qualifications than some of the other candidates he interview. This is an example of
puffery
actualization
objectivitiy
nepotisim
Andrew exaggarated his company's anticipated year-one income to entince a potential business investor. In other words, Andrew committed
trademark infringement
nepotisim
coporate responsibility
puffery
Ethical entreprenuers can be confident that
They are doing what is best for short term profitability
their companies are making a positive impact in the world
the public will not spend extra money to support them
they are guaranteed to make a large profit in the long term
Depending on the circumstances, stealing someone else's idea and passing it off as your own may constitute
copyright infringement
business negligence
ethical accountability
trademark awareness
When an entreprenuer makes unethical product decisions, s/he is more likely to
harm customers through negligence
gain dedicated, life-long customers
attract potential business investors
enhance future earnings potiential
The part of the business plan that discusses where funding for specific projects will come from is called the
financial plan
strategy and implementation
management plan
market analysis
In which section of his business plan will Paulo discuss each department managers skills? hint you completed this after your Organizational Chart
company description
executive summary
market analysis
management plan
In which section of the business plan would you find an examination of competitors activities?
strategy and implementation
product(s) offered
market analysis
management plan
Which of the following parts of a business plan includes the history of the business:
market analysis
strategy and implementation
executive summary
Appendix
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business.
To help reduce the risk of business failure.
All of the above.
Complete the sentence: A business plan...
is useful once your business is operational but not much help during the startup phase
is not usually needed once the business is up and running
can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.
A business plan conveys the ___________________________ of your business, including titles of directors or officers and their individual duties.
Operational Milestones
Organizational Structure
Management Tool
Objectives and Goals
