Entrepreneurship Unit 5: What Goes into Developing a Business?

How can a business demonstrate ethical responsibility? Select all that apply.

It can treat all customers the same way, with respect. It can avoid companies that use child labor or sweatshop factories. It can pay employees fair wages.

Kit is the day manager of an electronics repair shop. He frequently asks his employees to weigh in on important decisions. He also asks for their opinions before implementing new policies. Marwa is the night manager of the same electronics repair shop. She enjoys giving frequent motivational speeches to her employees, who like and respect her very much. What comparison can be made between Kit and Marwa's leadership styles?

Kit uses a democratic leadership style, while Marwa uses a charismatic leadership style.

Kari is a manager. She makes sure to update her staff on all company financial issues. Which describe effective ways to focus on achieving company financial goals? Select all that apply.

She coaches employees on add-on sales techniques. She has meetings to share department goals. She updates employees on their daily sales goals.

Carlotta owns a coffee shop that has a lot of cash transactions, especially during the morning rush. She knows there is a financial risk to the business because of the number of cash transactions. What is a risk management strategy that Carlotta should use?

designating certain employees as the only ones who handle payments

At a large company, Priya is part of a team that maintains technological equipment and ensures the computer network and other systems work well. Her team also secures company data and programs through updates and checks. What department does Priya work in?

the information technology (IT) and equipment department

Which describes organizing as a management function? Select all that apply.

using materials according to budget utilizing the proper resources for a given task

Lesson 22

Business Departments and Cars Have Lots in Common

Match each term with the correct description of the type of discrimination.

national origin: discrimination based on ethnic background, citizenship, or immigration status sex: discrimination based on gender identity, sexual orientation, and pregnancy disability: discrimination due to any physical or mental condition, or previous medical condition retaliation: discrimination against people who previously made a complaint

Rose's Flower Shop is looking for a part-time sales associate. The candidate must be a team player who is comfortable using a cash register. Which are components clearly listed in the job description? Select all that apply.

0.5 of 1 job title job summary soft skills

As a mediator, what does the human resources professional do? Select all that apply.

keep sensitive information private resolve conflict between people remain neutral and professional

Trevor's restaurant has property insurance with a $20,000 deductible. During a storm—an event covered by the insurance—a tree falls on the roof of the restaurant and causes $22,000 worth of damage. How much will Trevor pay for repairs to the restaurant?

Trevor will have to pay $20,000, and the insurance will pay the remaining $2,000.

The Civil Rights Act of 1964 was the first law that protected workers from discrimination based on what? Select all that apply.

0.5 of 1 national origin sex

Which is a function of the human resources department? Select all that apply.

0.5 of 1 production recruiting benefits

Prateek has 10 employees at his printing business. Some employees are in their teens and some are in their sixties. Which is the best example of how Prateek can successfully address the needs of all employees?

Communicate with each staff member in the way that each prefers.

Tamika owns a company that sends babysitters to clients' homes to care for young children. What is the best way for Tamika to manage potential risk to her business?

Conduct background checks on employees.

Lesson 23

Hats, Shoulders, and Recipes ... in Business? Yep!

A juice business relies on a single vendor to provide all fruits and vegetables. Why should this business consider using multiple vendors instead of relying on a relationship with only one?

If there is a problem with one vendor, there will be backup vendors so the business can still operate.

Brigit owns and manages a French restaurant. While the waitstaff identifies mostly with American culture, many of the chefs identify more closely with French culture. Brigit decides to begin each shift by offering a tidbit of information about French culture to the waitstaff during the pre-shift meeting. What is the possible benefit of such training?

It can promote a respect for difference

Lesson 21

Risks in Business

Which best describes how a business should plan for external risks?

The business should prepare for external risks but realize they are often out of the business's control.

Which are possible outcomes for violating anti-discrimination laws? Select all that apply.

The company may be required to train employees. The company may need to pay a fine. The company may be required to change its policies.

Lesson 24

There's More to Business Than the Bottom Line

Every employee helps the business achieve its financial goals. How do support staff help the company achieve its financial goals? Select all that apply.

They keep equipment maintained. They conserve the use of office supplies.

Susan applied for a position as a school secretary. She has 30 years of experience working as a secretary in another school. Susan was not hired but learned that the school hired a candidate who just graduated from college. What type of discrimination might Susan feel she has experienced?

age

Jeannette has decided to leave her position. She must speak with an HR employee on her last day. Which is a role of the human resources department in this situation?

completing her exit interview

What outcome is most likely when a business ignores its ethical responsibilities? Select all that apply.

decrease in customers legal issues

Which are benefits a company is not required by law to provide its employees? Select all that apply.

dental insurance vision insurance

Which are categories of social responsibility? Select all that apply.

individuals environment community

Jaime is 20 years old and works at a restaurant. Based on his age, which type of management style is he likely to prefer? Select all that apply.

one in which he receives frequent feedback one in which the management style differs based on the employee

Lesson 25

A Leader's Day: Making Changes, Building Relationships

Ian is eager to make a name for himself at his real estate firm. He accepts a call while at the office and gets his first clients, a young couple who are first time home buyers.[...] He then calls them twice a week to see if they are ready to buy. Which selling techniques are ineffective? Select all that apply.

He tells them what he thinks are important features for them to consider. He calls them twice a week to see if they are ready to buy. Once they're done, Ian recaps the features of each of the homes and cuts off conversation.

Sherry's company sells millions of bottles of shampoo each year. Recyclable packaging is more expensive than the packaging she currently uses. To sell these products at the lowest prices, Sherry uses her existing packaging but claims the packaging is made from recycled materials. In which areas should Sherry improve her ethical responsibility? Select all that apply.

She should use honest advertising practices. She should use recyclable materials for packaging.

Danny was just hired as an employee in the state's education department. He reviews his compensation plan to see what benefits are offered. He receives health and dental insurance as well as an employee retirement savings plan. He will get time off for jury duty and voting. All national holidays are observed. Which company benefits are required by law?

The company is required to offer time off for voting and jury duty.

Match each department with the correct function.

legal: This department helps keep the company in compliance with laws and regulations. executive or administrative: This department oversees and supports the general function of the business, creating policies and procedures shared throughout the company. human resources: This department handles matters concerning current or future employees. finance and accounting: This department reports required company data to the Internal Revenue Service. information technology and equipment: This department preserves company data through security updates and checks. operations, manufacturing, and production: This department handles company shipping or distribution channels, workflow maintenance, and inventory.

George runs a car wash. Once a month, he invites student groups to hold fundraisers at his car wash to benefit their school or club. Which statement is the most likely reason George does this?

George believes helping his community is his duty.

Retta, who works at a marketing firm, is concerned that the firm's owner hires younger employees who don't know anything. The firm's owner wants to help Retta understand that people of all ages contribute to the workplace. Which is the best point for the owner to make to Retta?

Young people help the firm understand the beliefs and preferences of a different generation.

Read the sentence. One challenge of having people of different generations in a single workplace is that they will each prefer _[blank]_. Which best completes the sentence?

different management styles

Which are descriptions of controlling as a management function? Select all that apply.

making sure daily tasks are leading the team to the project's goals making small changes along the way to avoid future problems

Which are effective ways to influence a customer's buying decision?

0.5 of 1 being very enthusiastic building a relationship offering add-ons

Which helps a company reach its financial goals? Select all that apply.

0.5 of 1 training employees conducting meetings creating a budget

Which are reasons why a small business would incorporate social responsibility into its company? Select all that apply.

0.75 of 1 decrease employee turnover improve its reputation in the community increase investor funding

Which group is most likely to be motivated in the workplace by a management style that promotes good work/life balance

Generation X

A company makes clear that all jobs are secure, and no one will be let go of if they have a contract. Which generation of workers would this company appeal to in particular?

Generation Z

Madeline owns a business that provides online tutoring for high school students who live in Asia. How might cultural and ethnic diversity training benefit her staff?

It can help the staff understand communication preferences of different cultures.

Jessica has just been hired as a salesperson for a computer company. She has an upbeat personality that naturally draws people to her, but she can get aggressive at times. With customers, she focuses on showing how the product's features and benefits will help solve their problem. When a customer comes in for a product seen in one of the company's ads, she talks about it, then switches to the more expensive model of the product. She is very focused on meeting her sales quota. Which of Jessica's selling techniques will aid a customer's buying decision?

She focuses on showing how the product's features and benefits will help solve their problem.

Which describes a key part of the relationship between vendors and business owners?

The quality of a vendor's product can impact the business owner's reputation.

A sporting goods store has property insurance that covers damage to the building. A hurricane rips the roof off the building one night while the store is closed. What are the most likely limitations of the property insurance? Select all that apply.

The store will still have to pay an insurance deductible. The store will still lose profits during closure for repairs.

Read the sentence. A business that lacks unity and focus might benefit more from a/an _[blank]_ leadership style than a democratic one. Which word best completes the sentence?

autocratic

Match each definition with the correct management function.

designing a strategy toward a specific company goal: planning gathering the resources needed to meet the company goal: organizing ensuring that the right people are in a position to achieve the company goal: staffing monitoring the progress toward the company goal: controlling

Margaret, a floor supervisor, is upset with her department manager, Sydney, who rarely comes on the floor to check on employees. Margaret goes to speak to the human resources department. Which is a role of a human resources professional in this situation? Select all that apply.

discusses code of conduct serves as a mediator

Smoothie Town posted this ad on a job site: Looking for a full- or part-time cashier to join the team. Must be at least 16 years old to apply. Which are components of this job description? Select all that apply.

qualifications job title

Valeria manages a flower shop. Each morning, she asks herself: "What can I do to help my team today?" Which leadership style does Valeria use?

servant leadership

Brian has an associate degree in computers. He is a team player and great communicator. He is proficient in web design and coding. Which of those is a hard skill?

web design

What is one way that ethnic or cultural differences may affect the workplace?

They may cause misunderstandings among individuals.