Intro to Business

An entrepreneurial team consists of

experienced professionals from different areas of business

Historically entrepreneurs in the U.S.

started many small firms that later became major corporations employing thousands of workers.

Which of the following explains why individuals accept the risks of business ownership?

the sense of self-satisfaction and independence

Management is more progressive today. There is more emphasis on:

working in teams

Entrepreneurship is

Accepting the risk of starting and running a business.

A creative person working within a corporation to launch new products and generate new profits is known as a(n)

Intrapreneur

Which of the following U.S. issues does entrepreneurship most directly affect?

The ability to create jobs for others

Any debts or damages incurred by a firm organized as a sole proprietorship are:

The responsibility of the owner.

Which of the following best describes entrepreneurial personality traits?

Tolerant of uncertainty and highly energetic.

Which of the following is a characteristic of successful entrepreneurs?

action oriented

One of the four primary functions of management is:

controlling

A(n) ____________ is a group of experienced professionals from different areas of business who join together to develop, make, and market a new product.

entrepreneurial team

______________ is the art of utilizing organizational resources to accomplish goals at work

management