BUS 210 Week 4 Individual Assignment Knowledge Check


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BUS 210 Week 4 Individual Assignment Knowledge Check

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Complete the Week Four Knowledge Check.
 
1.
Which of the following best defines the entrepreneurship process?
A. Providing both direct and indirect services to customers
B. Using IT to assemble materials into the final product
C. Acquiring and combining resources to create goods or
services for customers to buy.
D. Exchanging or selling services to other companies
2.
How do managers help the company’s stakeholders?
A. Assisting customers with their purchases
B. Assembling materials into finished products
C. Providing financing to grow the business
D. Creating profitable goods and services
3.
What is a difference between an employee and a manager?
A. Employees are responsible for providing vision and
leadership
B. Employees hold each other accountable for success of the
business
C. Employees have decision making authority over the
organization’s resources
D. Employees perform the many jobs to make, facilitate,
and sell a product
4.
Which of the
following is one of the stages?
A. Assembling raw materials into finished products
B. Calling customers to sell products
C. Answering questions about products from customers
D. Selecting goals and targets for team members
Concept: Three Forms of Opportunity
Mastery 67% Questions 5 6 7
5.
When an entrepreneur uses advancing technology to find a new way to make or supply a
product, the entrepreneur utilizes which of the following opportunities?
A. Capitalistic
B. Occupational
C. Organizational
D. Commercial
6.
Which answer contains the three types of entrepreneurial activities?
A. Evaluating, monitoring, and selling
B. Commercial, occupational, and organizational
C. Business, sales, and training
D. Financing, selling, and purchasing
7.
Which example best describes an organizational opportunity?
A. Business identifies and creates a new product.
B. A business launches and markets a 36-hour sale.
C. A business creates new, more effective ways to increase
profitability.
D. A business sells their products to new customers.
8.
What is the primary role of a non-managerial employee?
A. To assign resources and timelines to tasks
B. To evaluate the performance of other employees
C. To hire, coach, discipline, and fire employees as
appropriate
D. To perform the day–to-day tasks assigned to them as
directed
9.
Which of the following best describes the employee “role”?
A. The experience and minimum skills required for a
specific job
B. The nature of employment conditions, pay, and benefits
C. The set of tasks a person is expected to perform
D. The set of guidelines that govern organizational behavior
10.
Which of the following best describes how an employee can increase his or her chances
of being promoted inside an organization?
A. By doing what he or she is asked to do and by meeting
job requirements
B. By being routinely confrontational with other employees
and questioning the status quo
C. By ensuring performance remains within the boundaries
of the job expectations
D. By being proactive and looking for new ways to improve
his or her skills
11.
Which managerial function describes the process managers use to determine the best
business model for the company?
A. Organizing
B. Leading
C. Controlling
D. Planning
12.
Planning is typically performed by
A. veteran employees
B. key stakeholders
C. top level managers
D. stockholders and investors
13.
Which is one of the three stages in planning?
A. Calling customers and selling products
B. Indentifying markets and stakeholders
C. Selecting goals and targets
D. Coordinating and assembling materials
14.
What process do managers use to develop formal lines of authority that include task
allocation?
A. Controlling
B. Organizing
C. Planning
Leading
D.
15.
Which of the following best describes organizational culture?
A. Policies and procedures of the organization
B. The recruiting and hiring guidelines of the business
C. The process used to determine the future plans of the
business
D. The set of values, norms, and beliefs that guide the
organization
16.
Which of the following best describes organizational structure?
A. The recruiting and hiring guidelines of the business
B. The process used to determine the future plans of the
business
C. The arrangement and coordination of task and reporting
relationships
D. The set of values, norms, and beliefs that guide the
organization
17.
Which of the following leadership terms refers to groups of managers pooling their human
resources to leverage different perspectives and talent?
A. Benchmarking
B. Gap analysis
C. Cross functional
D. Root cause analysis
18.
Leading involves being able to enlist others in the company vision and motivate them to
accomplish organizational goals. Which of the following is required to effectively lead?
A. Organizational culture
B. Communication skills
C. Benchmarking
D. Profitability
19.
According to Jones (2007), how is leading defined relative to the four functions of
management?
A. Monitoring whether or not a company is achieving its
goals and taking action if it is not
B. Articulating a clear vision for a company’s employees
and motivating them to work towards it
C. Developing the company’s organizational structure that
defines tasks and reporting relationships
D. Determining the appropriate business model and goals
for the company
20.
How is controlling defined relative to the four functions of management?
A. Monitoring whether or not a company is achieving its
goals and taking action if it is not
B. Enlisting others in the company vision and motivating
them to accomplish organizational goals
C. Developing the company’s organizational structure that
defines tasks and reporting relationships
D. Determining the appropriate business model and goals
for the company
21.
Which of the following types of action would be appropriate when a manager determines
that a competitor’s process is more efficient?
A. Organizing
B. Benchmarking
C. Planning
Delegating
D.
29.
Higher level managers typically devote more time to which of the following efforts?
A. Planning
B. Leading
C. Controlling
D. Organizing
22.
What is the definition of a business plan?
A. A highly-detailed, written statement that explains the
purpose of creating a new venture
B. A general overview explaining the purpose of creating a
new venture
C. An outline of the way a company will use its resources to
create products that give it a competitive advantage
D. A summary of a company’s profit and loss for a specified
period of time and its plan for future growth
23.
When is a business plan developed?
A. Annually
B. When proposing a new business venture
C. When reporting profit and loss
D. Shareholder meetings discussing past performance
24.
What type of information is within a business plan?
A. Past performance and stock price
B. Revenue, profit, and loss
C. New products, how the organization will compete, and
how the organization will organize resources
D. Tax penalties, number of personnel, and location of
organization
25.
What are the four elements of a SWOT analysis?
A. Systems, weaknesses, obstacles, and threats
B. Strengths, weaknesses, obstacles, and targets
C. Systems, weaknesses, opportunities, and targets
D. Strengths, weaknesses, opportunities, and threats
26.
A detailed SWOT analysis would classify a well developed and informed business model
as a
A. strength
B. weakness
C. opportunity
D. threat
27.
A detailed SWOT analysis would classify a poorly designed marketing plan as a
A. strength
B. weakness
C. opportunity
D. threat
28.
A detailed SWOT analysis would classify competition in the industry or market as a
A. strength
B. weakness
C. opportunity
D. threat

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