NEW
Font size
WorksheetsEntrepreneurship Unit 1- Layne
Total questions: 45
Worksheet time: 23mins
Globalization
the process by which businesses or other organizations develop international influence or start operating on an international scale.
a manager within a company who promotes innovative product development and marketing.
The creation of new, unique products
An individual responsible for the coordination of resources in order to accomplish an organization’s goals
Intrapreneur
a manager within a company who promotes innovative product development and marketing.
anything that threatens an organization's ability to generate profits at its target levels
An individual who identifies an opportunity to create new value, develops and offers a unique product, assumes the risks of starting and building a business, focuses on the improvement and growth of that business, and receives personal and financial rewards for her/his efforts
An individual responsible for the coordination of resources in order to accomplish an organization’s goals
Risk
anything that threatens an organization's ability to generate profits at its target levels
The creation of new, unique products
An individual who is her/his own boss
A business that employs 500 or fewer people
Entrepreneur
An individual who identifies an opportunity to create new value, develops and offers a unique product, assumes the risks of starting and building a business, focuses on the improvement and growth of that business, and receives personal and financial rewards for her/his efforts
An individual responsible for the coordination of resources in order to accomplish an organization’s goals
a manager within a company who promotes innovative product development and marketing.
An individual who owns a business venture to generate income without intentions of growing or expanding the business
Innovation
The creation of new, unique products
A strong feeling of enthusiasm, determination, and devotion
A business that employs 500 or fewer people
A strong feeling of enthusiasm, determination, and devotion
Manager
An individual responsible for the coordination of resources in order to accomplish an organization’s goals
The creation of new, unique products
An individual who is her/his own boss
An individual who owns a business venture to generate income without intentions of growing or expanding the business
Passion
A strong feeling of enthusiasm, determination, and devotion
An individual who is her/his own boss
a manager within a company who promotes innovative product development and marketing
the customary code of polite behavior in society or among members of a particular profession or group
Self-employed
An individual who is her/his own boss
A business that employs 500 or fewer people
An individual who owns a business venture to generate income without intentions of growing or expanding the business
The creation of new, unique products
Small business
A business that employs 500 or fewer people
An individual who owns a business venture to generate income without intentions of growing or expanding the business
To evaluate, analyze, or review
The creation of new, unique products
Small-business owner
An individual who owns a business venture to generate income without intentions of growing or expanding the business
An individual responsible for the coordination of resources in order to accomplish an organization’s goals
An individual who identifies an opportunity to create new value, develops and offers a unique product, assumes the risks of starting and building a business, focuses on the improvement and growth of that business, and receives personal and financial rewards for her/his efforts
a manager within a company who promotes innovative product development and marketing
Assess
To evaluate, analyze, or review
Evaluative information given to you about the things you say and do
Assessment tool designed to help determine strengths and weaknesses
Steps that an individual takes to enhance or improve skills or traits that are needed to excel in her/his career/profession
Feedback:
Evaluative information given to you about the things you say and do
Assessment tool designed to help determine strengths and weaknesses
A person whose behavior is imitated by others
How you feel about yourself at any given time
Personal skills inventory
Assessment tool designed to help determine strengths and weaknesses
Steps that an individual takes to enhance or improve skills or traits that are needed to excel in her/his career/profession
Positive habits and qualities
Negative habits and qualities
Professional development
Steps that an individual takes to enhance or improve skills or traits that are needed to excel in her/his career/profession
How you feel about yourself at any given time
Positive habits and qualities
Negative habits and qualities
Role model
A person whose behavior is imitated by others
How you feel about yourself at any given time
To evaluate, analyze, or review
Evaluative information given to you about the things you say and do
Self-esteem
How you feel about yourself at any given time
Positive habits and qualities
Negative habits and qualities
Evaluative information given to you about the things you say and do
Strengths
Positive habits and qualities
Negative habits and qualities
the management of complex systems according to a set of rules and trends
1. A set of rules for governing behavior
Weaknesses
Negative habits and qualities
Positive habits and qualities
A set of rules for governing behavior
The basic principles that govern your behavior
Regulations
the management of complex systems according to a set of rules and trends
The basic principles that govern a business’s actions
A set of rules for governing behavior
The ability to rely on the character, integrity, or truthfulness of something or someone
Ethics
The basic principles that govern your behavior
The ability to rely on the character, integrity, or truthfulness of something or someone
Lacking morals; wrong
The basic principles that govern your behavior
Trust
The ability to rely on the character, integrity, or truthfulness of something or someone
The basic principles that govern a business’s actions
the management of complex systems according to a set of rules and trends
Lacking morals; wrong
Unethical
Lacking morals; wrong
A set of rules for governing behavior
The basic principles that govern a business’s actions
The management of complex systems according to a set of rules and trends
Entrepreneurship is
the process of starting and operating one's own business
managing a business for someone else
working at McDonald's
an individual who undertakes the risks associated with owning a business
An entrepreneur is
an individual who undertakes the risk associated with creating, organizing, and owning a business
the process of starting and operating one's own business
working at Burger King
managing a Burger King
An intrapreneur
innovates within a business
builds their own business
more responsibility
process of starting one's own business
Which of the following is a way that entrepreneurship helps our society:
Creates new jobs
Reduces taxes
Eliminates financial concerns
Decreases economic growth
One difference between entrepreneurs and small-business owners is that
small-business owners generally are not interested in expanding their businesses.
entrepreneurs usually purchase existing businesses or franchise rights.
entrepreneurs rarely manage the day-to-day aspects of their businesses.
small-business owners usually employ between 500 and 1,000 workers.
What is a disadvantage of entrepreneurship?
Uncertain income
Personal satisfaction
Lower taxes
Fewer resources
Entrepreneurs who are aware of their personal strengths and weaknesses increase their chances of
success.
empathy.
productivity.
outsourcing.
Which of the following quotes encourages you to evaluate yourself as a person:
“Know thyself.”
“Never give up.”
“Life is like a box of chocolates.”
“Give me liberty or give me death.”
Why is it important to assess personal strengths and weaknesses before interviewing for a job?
Interviewers often ask you to discuss your strengths and weaknesses.
You must improve all weaknesses before you are hired.
If you know your strengths and weaknesses, you will get the job.
Employers require you to have at least 10 strengths.
Assessing personal strengths and weaknesses is a(n) __________ process.
ongoing
competitive
easy
one-time
A person you ask for input to help you assess personal strengths and weaknesses should be
tactful.
older than you.
someone who will focus on your strengths.
brutally honest.
How can observing a role model help you assess your strengths and weaknesses?
You can identify strengths you wish to possess.
You can ask him/her to identify your strengths.
You can ask him/her to identify your weaknesses.
You can identify weaknesses you wish to avoid.
A business’s ethics determine whether or not an action is acceptable for that business, especially if the action
has a negative impact on others.
affects the environment.
is illegal.
contributes to the business’s profitability.
One difference between business ethics and the law is that business ethics
are often unwritten.
are enforced by government.
must be published.
are easy to determine.
Why should a business practice good ethics?
An ethical business contributes toward its own success.
An ethical business makes more money than all its competitors.
The government will fine an unethical business.
An unethical business will go bankrupt.
Which of the following is a true statement about ethical business practices:
They do not guarantee positive outcomes.
They are more difficult to undertake than unethical practices.
They are all under government regulation.
They ensure that a business will succeed.
Corporation
A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)
A contractual agreement between a parent company and a franchisee to distribute goods or services
A form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
Franchise
A contractual agreement between a parent company and a franchisee to distribute goods or services
Two individual businesses that combine to form one organization
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A business owned by one person who receives all the profits from the business and takes all the risks
Limited liability company (LLC)
A form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A franchise arrangement based on an independent sales relationship between a franchisor and franchisee to stock and sell a specific line of goods; also known as dealership or exclusive distributorship
A business owned by one person who receives all the profits from the business and takes all the risks
Merger
Two individual businesses that combine to form one organization
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A form of business ownership in which the business is owned by two or more persons
A business owned by one person who receives all the profits from the business and takes all the risks
Non Profit Corporation
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
A form of business ownership in which the business is owned by two or more persons
A form of business growth in which a company extends its operations or facilities using new capital or reinvested funds
A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)
Partnership
A form of business ownership in which the business is owned by two or more persons
A contractual agreement between a parent company and a franchisee to distribute goods or services
A form of business growth in which a corporation acquires many smaller companies
A business owned by one person who receives all the profits from the business and takes all the risks
Sole proprietorship
A business owned by one person who receives all the profits from the business and takes all the risks
A form of business ownership in which the business is owned by two or more persons
A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)
A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
