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WorksheetsBusiness Start-up Quiz
Total questions: 44
Worksheet time: 28mins
How many steps are there for starting a small business?
6
8
12
9
___ and ___ are the categories in the startup of a business.
Entrepreneurial and Administrative
Personal & Business
Entrepreneurial
None of the above
Differentiated means
(a)
What is a pro forma?
one-page financial projection
market plan
cost of goods bought
none of the above
List the nine steps for starting your small business.
Marketing is how you intend to communicate to large numbers of customers, motivating them to learn more about your business.
true
false
Selling refers to vendors and shipping.
true
false
How will you get secure funding for your small business?
Get money from my parents
Use an elevator speech
Develop a launch plan
An elevator speech should be at least 60 seconds.
true
false
What is the standard organization for a business memo?
Which of the following is not a rule for effective writing?
Outline key points you intend to make
Write a topic sentence
Place topic sentences in logical order
I'm not sure
How does solving difficult-customer situations benefit your company?
It will generate repeat business.
The difficult customers won’t bother you again.
You will get a promotion.
All the employees will get promotions.
Good Customer Service helps to:
Build Your Brand
Create Trust With Your Customers
Reduce Customer Complaints & Minimise Problems
All of the Options
What makes your organisation different from similar ones?
Products & Service are the difference
We pay less so our costs are lower
We work our teams harder
Our social media & marketing is funnier
A launch plan is a complete package that supports a "GO" decision by an entrepreneur to launch a new business.
true
false
This should be used for individuals and companies that often promise to keep information they learn a secret
confidentiality
conflict of interest
marketing
none of the above
(a) means to treat stakeholders as the entrepreneur would hope others would treat him/her.
Non-physical assets created by individuals or companies that hold the exclusive legal right to commercialize. (could be described as copyright or patent)
transparency
Intellectual property
NDA
none of the above
Business ethics refers to when an entrepreneur's actions and decisions are guided by a set of beliefs about how he/she wants the business to succeed.
True
False
You have opened a unisex salon that focuses on offering the latest styles. Rank the differentiating factor.
"Your salon promises to be the lowest cost salon anywhere in the city."
Highly effective
Effective
Not effective
Which of the following is not a rule for effective writing?
Outline key points you intend to make
Write a topic sentence
Place topic sentences in logical order
I'm not sure
How does solving difficult-customer situations benefit your company?
It will generate repeat business.
The difficult customers won’t bother you again.
You will get a promotion.
All the employees will get promotions.
This should be used for individuals and companies that often promise to keep information they learn a secret
confidentiality
conflict of interest
marketing
none of the above
Business ethics refers to when an entrepreneur's actions and decisions are guided by a set of beliefs about how he/she wants the business to succeed.
True
False
You have opened a unisex salon that focuses on offering the latest styles. Rank the differentiating factor.
"Your salon promises to be the lowest cost salon anywhere in the city."
Highly effective
Effective
Not effective
An employee serve on the board of a local charity that helps children with learning disabilities. he knows that he is going to be asked to solicit funds from Company employees for this charity. Is that a problem?
No .
The company encourage employees to serve and support non-profit organizations in their personal time
Yes .
Requests for funding or donations should be reviewed for potential conflicts of interest on a case-by case business
The Company is recruiting and Karl is a member of the selection team. Karl's cousin James, applies for the job.
Karl realizes that James is one of the most deserving candidates for the position. Karl is unable to decide whether to suggest that the Company interview James .
What should Karl do ?
Karl should select James as he believe he is the most deserving
Karl should not select James at all
Karl should not participate in the selection process and should disclose his relationship with James to his manager
Corporate Social Responsibility is...
managing a business in such a way that the broader community including owners, and the environment are taken into account when making business decisions.
managing a business in such a way that the broader community including the employees, competitors, customers and suppliers are taken into account when making business decisions
managing a business in such a way that the broader community including the owners and employees are taken into consideration when making business decisions
managing a business in such a way that the broader community, including employees, customers, suppliers and the environment, is taken into consideration when making business decisions
Donating to nonprofit organizations and recycling are examples of corporate social responsibility.
True
False
Which of the following is an example of intellectual property?
A work of art
A computer program
A trade secret of an organization
All answers are correct
Major forms of intellectual property
Patents
Trademarks
Copyrights
All answers are correct
About how long should an elevator pitch last?
30 seconds
2 minutes
30 minutes
5 minutes
A successful elevator pitch should explain to the recipient how __________ you are.
Ordinary
Unique
Carbon Copy
Dull
How is an elevator pitch different to a normal sales pitch?
It's longer
It's shorter
There is no difference
Which of these are important?
Posture
Body Language
Eye Contact
All of them
An employee serve on the board of a local charity that helps children with learning disabilities. he knows that he is going to be asked to solicit funds from Company employees for this charity. Is that a problem?
No .
The company encourage employees to serve and support non-profit organizations in their personal time
Yes .
Requests for funding or donations should be reviewed for potential conflicts of interest on a case-by case business
Behaving ethically means doing
what your friends do.
only what’s legal.
the right thing.
what benefits you the most.
When DeShawn’s teacher compliments his work on his group project, he’s sure to give credit to the other group members who helped. DeShawn is showing
transparency.
rule of law.
viability.
trust.
Stakeholders include...
employees
customers
lobby groups
government
Small business owners can expect all of the following expect
Long hours
Financial responsibility
Immediate success
Risk
Entrepreneurs are all of the following expect
Hard working
Take charge personality
Lazy
Risk takers
