Section: 3,5 and 6

Question 1

Social entrepreneurship

Answer 1

leverages resources to address social problems

Question 2

Franchise

Answer 2

an entrepreneurial alliance between a franchisor (an innovator who has created at least one successful store and wants to grow) and a franchisee (a partner who manages a new store of the same type in a new location).

Question 3

What Does it Take, Personally?
- Entreprenualship

Answer 3

• Commitment and determination = decisive, tenacious, disciplined, willing to sacrifice and immerse themselves
• Leadership= self-starters, team builders, superior learners and teachers
• Opportunity obsession= knowledge of customers’ needs, market drive, obsessed with value creation and enhancement
• Tolerance of risk, ambiguity, and uncertainty= calculated risk takers and managers, able to handle stress and solve problems
• Creativity, self-reliance, and ability to adapt= open-minded, not happy with status quo, learn quickly, adaptable, creative, can conceptualize and pay attention to details
• Motivation to excel= clear results orientation, set high goals, drive to achieve, know strengths and weaknesses, focus on getting things done

Question 4

Entrepreneurship
vs.
Intrapreneurship

Answer 4

• While an Entrepreneur establishes a new organization without the benefit of corporate sponsorship, Intrapreneurs create new ventures inside of larger companies.
• Examples of Intrapreneurship could be a “Skunkworks” project team designated to produce a new, innovative product (example of defense industry).
• “Bootlegging,” is the name given to more informal work on projects of employees’ own choosing and initiative.

Question 5

Human Resources Management

Answer 5

Formal systems for the management of people within an organization

Question 6

Human Capital

Answer 6

The Knowledge, skills, and abilities of employees that have economic value.

Question 7

Guidelines for Diversity Training

Answer 7

*Training
Teaching lower-level employees how
to perform their present jobs.

*Development
Helping managers and professionals
learn the broad skills needed for
their present and future jobs.

*Awareness Building
The idea of sensitizing others to the
importance of valuing diversity and
understanding assumptions and
stereotypes they may have of
others.

*Skill Building
Giving participants tools they will
need to deal effectively with
diversity issues on the job.

Question 8

Issues in the Modern Workplace

Answer 8

Gender
* Women in the workplace, sexual harassment, LGBT issues

Cross-cultural Communication
* barriers to effective communication can exist due to various cultural, language and value differences

Religion in the Workplace
* One cannot discriminate in the workplace based on religious values and beliefs

Multiple Generations
* Urganizations are finding ways to incorporate older employees into their talent pool, although issues of communication and ideals can arise

Question 9

Fair Labor Standards
Act (1938)

Answer 9

Creates exempt (salaried) and nonexempt (hourly) employee categories, governing overtime and
other russ. sets min mum wage. child-labor laws.

Question 10

Equal Pay Act (1963)

Answer 10

Prohibits gender-based pay discrimination between two jobs
Substantially similar in skills, effort, responsibility, and working conditions.

Question 11

Title Vii of civil Rights Act (1964)

Answer 11

Prohibits discrimination based on race, sex, color, religion, or national origin in employment decisions: hiring, pay, working conditions, promotion, discipline, or discharge