SBM Final

True

A job description defines and discusses all the essential knowledge, skills, and abilities that are needed to fill a position.

True

A marketing plan includes a table of contents, executive summary, and appendixes similar to a fully developed business plan. ..

The Americans with Disabilities Act

A small company selling handmade items online and having only five total employees, including the owner, would not be subject to which of the following laws?

job description

A(n) ___ defines and discusses all the essential knowledge, skills, and abilities that are needed to fill a position.

augmented product

A(n) ________ typically means the core product plus features that tend to differentiate the product from competition.

True

Accounting is important for small businesses because investors will not even consider funding your concept unless you provide specific accounting information in an accepted format.

True

Adding employees in a firm increases both the amount of work that can be done and the demands on the owner.

False

An established company can come up with sales forecasts by looking at their sales for the past week, month, or quarter-called organic traffic and project forward.

board of advisers.

As a business owner, if you have a group of people you assemble because you trust their judgment and goodwill toward you and your firm who may meet with you as a group, or individually for impromptu meetings are considered your

False

Considering the personal selling formula for generating interest in your product or service, cognitive dissonance occurs during the close of the sale.

True

During the start-up phase of a small business the emphasis is on conserving what little cash the new business has.

Rewards employees for recommending potential candidates that would be a great fit.

Employee referral

Truthfulness

Entrepreneurial leadership has three key components over and above task and person. Which of the following answer options is not one of those three key components?

formal summaries of the content of an accounting system's records of transactions.

Financial statements are defined as

Teamwork

Fostering a sense of ___ allows people to interact with one another on a professional level.

False

Guerilla marketing is a form of communication that encourages the customer to act immediately, such as coupons, sales, or contests.

True

If you have started a business, or are doing a business where you do not expect to prepare a full business plan, a stand-alone marketing plan might be useful.

True

If your company holds a patent on a product, you will initially set the price so high that only a few can afford it. ..

should design interview questions such that "yes" or "no" answers are not applicable.

In evaluating potential employees, a small business owner

liabilities plus owner's equity.

In the accounting equation, assets equal

virtual employees.

Independent contractors who provide specialized business services or support from a distance, through different methods of communication are known as

True

Leasing, rather than building or buying, is an option with a considerably lower initial cash outlay and is often the only feasible choice for new businesses.

True

Liquidity is a measure of the ability of a business to meet both short-term and long-term obligations.

True

Money borrowed for the purpose of investment in a business is called debt capital.

owners' equity investments

Of the following answer options, which is the most available funding source for new businesses?

sales leads

People who receive a promotional impression and who give some thought to buying the product are considered

False

Perks is a great way to provide long-term boosts in motivation.

True

Sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase are known as prospects.

secondary research.

Scenario: Kitchen Helpers Tony is a whiz in the kitchen. Not only does he make great food but he has invented about a dozen time-saving kitchen gadgets along the way. These are all home-made inventions made either by using new materials or by modifying existing gadgets to work in new, better ways. He has made duplicate gadgets for friends and some say they use the gadget every day. Tony quit his construction job to concentrate on his kitchen gadgets-he started his own company, Kitchen Helpers. An approach to researching based on the use of existing information, often from government, commercial or academic databases and research efforts is...

collateral.

Something of value given or pledged as security for payment of a loan is called

False

Statement of cash flows is also referred to as the statement of financial position.

conserving what little money the business has

Tammy has just opened a donut shop called The Rabbit Hole. Given that The Rabbit Hole is in its start-up phase, which of these would be Tammy's immediate financial management need?

True

The concept of total product includes how customers think about your product.

owner's equity.

The difference between assets and liabilities of a business is called its

on-the-job training.

The job rotation technique is an example of

False

The more debt that is included in the capital mix, the higher is the weighted average cost.

job metrics

The term ___ is associated with objectively evaluating how well someone is doing their job

KPls

The term for measures or metrics that identify the outcomes that are most important to the success of a business are known as

True

The two key factors in traditional leadership theories are task and person.

True

The usefulness of the income statement for managing a small business is related to the amount of detail available in the statement.

False

When conducting employee performance reviews, an appraisal form should be filled out by the employee and returned to you after the scheduled performance review.

increase at a decreasing rate.

When debt increases as a percentage of total investment, returns on equity

Psychographic

When segmenting your market, ___ segmentation looks at what drives the person, for example hobbies, cultural interests, or health concerns.

Shipping

Which among the following is an example of a variable cost?

a trial close

Which credit card would you like to use to pay for that?" is an example of

wealthy individuals who invest in companies in relatively early stages of development

Which of the following describes angel investors?

Fair Labor Standards Act

Which of the following federal employment laws requires the payment of the same wages to males and females for work requiring equal skill, effort, and responsibility in similar working conditions?

Payment is expected even if you have no money to make the payment.

Which of the following is a drawback to financing with debt?

supply chain costs

Which of the following is not one of the four key factors considered when determining an optimum price?

provide a job title

Which of the following is the first step in crafting a job description?

Idea screening is the process of selecting the most promising ideas to be further evaluated.

Which of the following statements best describes the process of idea screening in new product development?

Sales promotion is one of the major forms for marketing.

Which of the following statements is always true of sales promotions?

Micromanagement is important as they are remote staff.

Which of the following statements is not true of managing and fostering productivity among virtual employees?

Advertising

___ is often used to support the corporate identity and value propositions that are established through public relations efforts

Skimming

___ is setting a price at the highest level the market will bear, usually because there is no competition at the time

Operating income

_____ is the most used item on the income statement.

Probationary period

________ refers to the trial period in which an employee has temporary status before a formal offer to work full time is presented.

True

investing in multiple businesses increases the chances of offsetting possible losses incurred from one business.

letting employees make on-the-spot decisions for the companies' best interest

which of the following would implicate employee empowerment?