Unit 1 Assessment

When a business encourages employees to be creative within the company, the practice is called?

Intrapreneurship

Cause- related marketing

Is a mutually beneficial collaboration between a corporation and a nonprofit designed to promote the former's sales and the latter's cause.

An entrepreneur

Is responsible for the success or failure of his or her business.

Self- Assessment

Is the process of looking at oneself in order to assess aspects that are important to one's identity.

Greenwashing is unethical because it?

Misleads customers.

As an entrepreneur, the amount of time you spend working is typically?

More than an employee, particularly during initial setup.

Greenwashing

When a company, government or other group promotes green-based environmental initiatives or images but actually operates in a way that is damaging to the environment or in an opposite manner to the goal of the announced initiatives. This can also include misleading customers about the environmental benefits of a product through misleading advertising and unsubstantiated claims.

How does the SBA define small business?

A business with less than 100 employees.

Business Plan

A document setting out a business's future objectives and strategies for achieving them.

Mission Statement

A formal summary of the aims and values of a company, organization, or individual.

Patent

A government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.

Mentor

A relationship in which a more experienced or more knowledgeable person helps to guide a less experienced or less knowledgeable person

Trademark

A symbol, word, or words legally registered or established by use as representing a company or product.

Product

An article or substance that is manufactured or refined for sale.

The owner of a children's clothing store uses popular cartoon characters in her adds, this might be an example of?

Copyright infringement.

Is a risk for an entrepreneur

Potential business failure and long hours and hard work

Professionalism

The competence or skill expected of a professional.

Philanthropy

The desire to promote the welfare of others, expressed especially by the generous donation of money to good causes.

The company description part of a business plan should include...

The markets the business will serve.

Internship

The position of a student or trainee who works in an organization, sometimes without pay, in order to gain work experience or satisfy requirements for a qualification.